By Key Points
- Ethereum Public Companies Bet $1.5B as Bitcoin Falls Behind
- BTC Digital Ltd and BitMine pivot from Bitcoin to ETH
- BitMine aims to control 5% of the total Ethereum supply
- Institutional demand pushes Ethereum market cap to $420B
In a bold shift that’s catching eyes across the crypto market, firms like BTC Digital Ltd (BTCT), BitMine Immersion (BMNR), and Bit Digital (BTBT) are unloading Bitcoin reserves and stacking ETH.
This strategic treasury migration has injected over $1.5 billion into Ethereum, lifting its market cap above $420 billion levels not seen since January.
According to TradingView data, Ethereum’s price surge is now backed not just by retail hype but by institutional conviction.
Trump’s inauguration speech:
“Today we are announcing the strategic crypto reserve of America, with many great crypto currencies, the best currencies, we will have Bitcoin and Ethereum, oh yes, we like Ethereum very much, don’t we Eric?” pic.twitter.com/akOdPFl04A
— Alucard (@Alucard_eth) January 20, 2025
BTC Digital Ltd, a Nasdaq-listed company, dropped a game-changing update on July 17. The firm officially pivoted its entire treasury strategy to Ethereum, ditching Bitcoin completely.
Backed by a fresh $6 million financing round, BTCT immediately deployed $1 million into Ethereum. The decision wasn’t just symbolic—it marked a complete restructuring of its asset strategy around Ethereum’s growing role in decentralized finance (DeFi).
Meanwhile, BitMine Immersion has gone even further. The firm reported Ethereum holdings worth over $1 billion, a massive jump from its original $250 million private placement. With 300,657 ETH on the books at an average price of $3,461.89, BitMine now holds one of the largest Ethereum treasuries among public companies.
Even more striking, BitMine’s chairman, Tom Lee of Fundstrat, revealed ambitions to control 5% of Ethereum’s total supply. This kind of aggressive accumulation sends a clear signal: Ethereum is no longer just a tech experiment—it’s institutional-grade.
Bitmine increased ETH holdings to $1 billion, >300,000 ETH tokens
😍😍😍😍😍Tom Lee @Fundstrat, Chairman of $BMNR:
“we surpassed $1 billion in Ethereum holdings, just seven days after closing on the initial $250 million private placement”“We are well on our way to… pic.twitter.com/FfS32pSymR
— Bitmine Immersion Technologies, Inc. (@BitMNR) July 17, 2025
Institutions Are Driving Ethereum’s Market Narrative
The Ethereum rally is not happening in a vacuum.
Bit Digital, another public crypto mining firm, recently sold off its entire Bitcoin portfolio, buying 100,603 ETH instead, worth $254.8 million. The shift echoes a growing belief that Ethereum offers more utility, better staking yields, and stronger long-term potential than Bitcoin.
This coordinated move by three major public companies represents more than just bullish sentiment—it’s a restructuring of digital finance strategies.
Ethereum (ETH) Market Cap. Source: TradingView – Techtoken
Matt Hougan, CIO at Bitwise, had already predicted this surge. In a recent article on Ethereum ETF inflows, Bitwise revealed that July alone brought in over $890 million in Ethereum ETF investments, underscoring institutional momentum.
The switch from Bitcoin to Ethereum aligns with Ethereum’s expanding influence in DeFi, on-chain finance, and its upcoming Layer 2 scalability upgrades. These factors are making Ethereum more attractive as a yield-bearing and programmable asset, especially for companies with long-term views.
Adding to the mix, Bit Origin is now eyeing Dogecoin as a treasury asset, securing $500 million in facilities to begin its DOGE holdings. While speculative, this shows how traditional firms are now exploring altcoin treasury strategies beyond just Bitcoin.
Crypto equities market open race: Google Finance – Techtoken
Ethereum’s rising dominance also has some traders betting big: exchange reserves are at their lowest since the last major bull run, suggesting further upside as supply dries up and demand explodes.
With Ethereum breaking past $3,400, investors now face a key decision: take profits or hold for more upside. Either way, Ethereum is no longer playing second fiddle to Bitcoin—it’s emerging as the lead instrument in the symphony of decentralized finance.
Check out the 8 altcoins gaining momentum from Ethereum’s rise—some may soon follow ETH’s explosive growth pattern.
What This Means for Ethereum’s Future in Corporate Finance
The message is clear—Ethereum is gaining legitimacy in corporate treasuries. And the implications are massive.
Public companies are no longer treating crypto as a speculative side bet. Instead, Ethereum is becoming a core treasury asset, valued for its real-world utility, staking rewards, and key role in powering decentralized applications.
This isn’t about chasing the next pump—it’s about building long-term digital financial infrastructure.
The entry of companies like BTCT, BMNR, and BTBT could act as a signal to larger institutions, including hedge funds, asset managers, and even governments, that Ethereum is worth holding.
It mirrors larger macro shifts, like BlackRock’s iBit ETF crossing $100B in assets, which show the institutional world is rapidly warming up to digital assets.
At the same time, these decisions highlight the risks and volatility companies face when adopting crypto. MicroStrategy’s exposure to Bitcoin continues to be a talking point in corporate finance, making Ethereum’s growing stability an appealing option.
Beyond corporate America, public initiatives are also adopting blockchain. In California, a new breakthrough project is leveraging Ripple and Coinbase for infrastructure, demonstrating that cryptocurrency is infiltrating state-level innovation.
Even meme coins are having a moment. Froggie meme coin is gaining attention as Ethereum’s ecosystem grows, proving that capital rotation in crypto extends to every layer, from stable protocols to experimental tokens.
As Ethereum ETFs grow and public companies add ETH to their balance sheets, the road ahead looks stronger than ever.
Ethereum is no longer just a tool for developers—it’s now a weapon in corporate financial strategy.
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