Ethereum Emerges as a Strategic Treasury Asset for Corporations
SharpLink Gaming has solidified its status as the largest public holder of Ethereum, boasting a staggering 360,807 ETH worth $1.33 billion as of July 2025. Over 95% of these holdings are staked or deployed through liquid staking platforms, turning ethereum into a yield-generating reserve. This strategic move highlights Ethereum's growing importance as a treasury asset for corporations, with BitMine Immersion following closely behind, holding 300,657 ETH valued at $1.11 billion. The trend underscores the increasing institutional adoption of Ethereum, not just as a speculative asset but as a cornerstone of corporate financial strategy. As more companies recognize the potential of staking Ethereum for passive income, the cryptocurrency's role in the financial ecosystem continues to evolve, promising a bullish future for its value and utility.
SharpLink Gaming Leads Public Firms with $1.33B Ethereum Stash
SharpLink Gaming has cemented its position as the largest public holder of Ethereum, with 360,807 ETH worth $1.33 billion. Over 95% of these holdings are staked or deployed through liquid staking platforms, transforming the asset into a yield-generating reserve. The MOVE underscores Ethereum's growing role as a strategic treasury asset for corporations.
BitMine Immersion trails closely with 300,657 ETH valued at $1.11 billion. The mining firm, chaired by Fundstrat's Tom Lee, aims to control 5% of Ethereum's circulating supply—a bold bet on ETH as digital infrastructure. BitMine's NYSE listing under ticker BMNR signals mainstream acceptance of crypto-native businesses.
Coinbase Global now ranks third among public ETH holders with $507 million worth, having been overtaken by newer entrants. The reshuffling reflects how institutional crypto strategies are evolving beyond custody solutions into active capital deployment.
GameSquare Acquires Rare CryptoPunk NFT in $5.15M Preferred Shares Deal
GameSquare Holdings Inc. (GAME), a Nasdaq-listed company, has acquired CryptoPunk #5577—a rare APE Punk variant known as Cowboy Ape—from Compound founder Robert Leshner in a $5.15 million preferred shares transaction. The deal underscores growing institutional interest in NFTs as treasury assets.
The NFT, originally claimed in 2017, had previously attracted a $122.82 million bid during the 2021 bull market. Leshner retained ownership through multiple offers, including during the crypto winter, when NFT valuations plummeted. GameSquare has already adopted the Punk as its X profile image.
Concurrently, GameSquare added $10 million worth of ETH to its treasury, bringing total Ethereum holdings to over $52 million. The move signals confidence in crypto-native assets despite lingering skepticism about NFTs' long-term viability.
GameSquare Makes $5.15M Strategic Investment in CryptoPunk NFT, Adds $10M ETH to Treasury
GameSquare Holdings, Inc. has entered the digital collectibles market with a high-profile acquisition of the Cowboy Ape #5577 CryptoPunk from DeFi pioneer Robert Leshner. The $5.15 million deal, paid in preferred stock convertible to shares, marks the firm's first direct NFT investment.
The purchase aligns with GameSquare's blockchain-native strategy, with CEO Justin Kenna calling the Punk a "grail" investment. Concurrently, the company bolstered its Ethereum holdings by $10 million, bringing total ETH treasury reserves to over $52 million.
Leshner, founder of Compound and CEO of Superstate, joins GameSquare as a shareholder following the transaction. CryptoPunks remain among the most valuable NFT collections, with this deal underscoring institutional interest in on-chain digital assets.
Ethereum Network Gas Usage Hits Record High Amid Bull Market Activity
Ethereum's network demand has surged to unprecedented levels, with daily gas usage reaching an all-time high. The spike reflects robust on-chain activity, driven by a combination of whale transactions, retail participation, and broader enthusiasm for ETH's market rally. Despite the record metrics, transaction costs remain relatively low, with standard transfers under $0.15 and NFT transactions averaging $2.48.
Network data shows 1.6 million daily transactions originating from over 500,000 active wallets, predominantly involving stablecoins like USDT and USDC alongside native ETH transfers. Unlike the 2021 bull run, current activity stems from sustained DeFi adoption rather than speculative hype, signaling maturation in utility.
The scalability question resurfaces as organic growth—not isolated events—pushes gas usage into new territory. Ethereum's infrastructure now handles 2021-level demand without the congestion or exorbitant fees that previously characterized peak periods.
Ethereum Open Interest Surges to Record High Amid Bullish Sentiment
Ethereum's derivatives market has reached a historic milestone, with open interest soaring to an all-time high of $30 billion. The surge reflects mounting institutional confidence and retail participation in ETH futures and options markets.
Market analysts note this metric often precedes volatility—while rising open interest typically signals bullish momentum, historical patterns show such peaks can precede short-term corrections. The ETH derivatives frenzy coincides with growing anticipation around upcoming network upgrades and ETF approvals.
Ethereum Supply Shock Alert: Is Bitmine $2B Move Draining ETH?
Fears of an Ethereum supply shock are intensifying as BitMine's ETH holdings surpass $2 billion. Institutional players and crypto whales are increasingly locking up ETH for staking, raising concerns about a potential liquidity crunch in the market.
The growing demand for staking rewards coincides with Ethereum's transition to proof-of-stake, creating structural scarcity. Market analysts note this trend mirrors Bitcoin's supply dynamics during institutional accumulation phases.
