The 7 Largest Publicly Traded Ethereum Treasury Firms

The trend that began with Bitcoin for public companies employing Crypto Treasury Strategies has since expanded to a variety of digital assets, including the second largest cryptocurrency in market capitalization, Ethereum.

It is now led by key figures like Tom Lee of EthStrat and Joe Lubin, co-founder of Ethereum.

Around StrategeThreserve.xyzEthereum Treasury Department’s Utilities have maintained ETH of more than $20.9 billion at the time of this writing, and more than 5.25 million ETH at over 4.3% of total supply. These are the largest owners at the time of this writing.

1. Bitmine Immersion Technology

Bitmine Immersion Technologies, led by Crypto Bull and Fundstrat Cio Tom Lee, exploded into the company at the end of July. Ethereum Treasury Detailed Plans.

Bitmine (BMNR), which previously focused on Bitcoin mining, first secured a $250 million public equity (PIPE) funding round to begin purchasing ETH.

Since then, he has won 2,416,054 ETH, worth around $9.6 billion at the time of writing, and has not looked back.

The aggressive purchases are consistent with Lee’s seemingly immeasurable ETH price forecast. Calling $60,000 ETH. That’s a significant multiple of the current price.

After planning to raise $4.5 billion to accumulate assets, Lee and the company cheered them up $20 billion in August This is because Bitmine aims to expand its already-industrial leading Ethereum Treasury Department.

2. Sharplink Games

Gambling Marketer has become Ethereum Finance Company Sharplink Games It holds the second largest publicly traded ETH Ministry of Finance.

company 838,728 Maintain ETH Or 83% of the 83% method of the first stated target of accumulating $3.333 billion, 1 million ETH.

Sharplink’s existing business had no immediate connection with Crypto, but it brought a direct connection with Ethereum when it shaped the board. Company’s Chairman Joe Rubin He is the co-founder of Ethereum itself, founder and CEO of Ethereum Software Company, Consensys, and the maker of the popular Crypto Wallet. Meta Mask.

(Disclaimer: Consensey is one of the 22 investors of the editor. Decryption)

Lubin and the company are chasing Bitmine in the relentless pursuit of Ethereum and raising funds in a variety of ways, including Recent $400 million direct productsplans to collect more $6 billion from stock sales.

July, company Added BlackRock’s previous head of digital asset strategy Joseph Charom is the newly appointed CEO. Later, that Approved $1.5 billion in stock buyback In the example, if the company’s market capitalization is traded at net asset value and discount. By mid-September, it was bought back Approximately $32 SBET for 1 million.

3. Ether Machine

There is no doubt about the business of ether machines. Companies to be published due to mergers Ether Reserve, LLC and Blank-Check Company Dynamix.

The third largest Treasury Department on the list, the Ether Machine currently holds $1.95 billion at 495,362 ETH, or today’s ETH price.

Ether Machines said it had a duty to fund approximately 170,000 ETHs from Startup Capital and co-founder and chairman Andrew Kies, and to work on the ETH on-chain or create a “machine” to grow the stash and distinguish it from a more passive accumulation vehicle.

On August 27th, Dynamix moved from ITS ETHM’s original Dynx ticker In the open market. The Ether Machine said on September 16 that it submitted an S-4 to the SEC for approval to complete the merger.

4. Coinbase

Leading American Crypto Exchange Coinbase maintains an investment of approximately $540 million or 136,782 ETH. It’s over 20,000 ETH than it ended in 2024 When holding 115,700 ETH Based on the end of the 10-K filing.

The company also holds over 11,000 Bitcoin investments; Top public holders The biggest crypto assets.

beginning He participated in the open market in 2021Coinbase stocks It’s become the best newest ever In July 2025, crypto companies continued their successful streak alongside traditional stocks.

5. Bit Digital

Bitcoin Minor BitDigital formed the Ethereum Financial Strategy in the second quarter of 2025. In just a few months, it jumps from 30,663 ETH at the end of June and will be added in a hidden place soon. 121,252 ETH as of August 31 – is currently worth around $479 million.

As part of the transition, the company has finished its Bitcoin mining operations and is relocating funds to accumulate ETH. The open market did not respond strongly to the strategic shift as BTBT shares fell 0.68% since the start of the year.

6. Ethira

Biotech Firm 180 Life Sciences has reinvented the company to Ethzilla as it shifted its focus to the Ministry of Digital Assets Treasury, centered around Ethereum.

company We raised $425 million in late July It launched the Ministry of Finance, and as of September 26th it has won 102,246 ETH, earning around $404 million at today’s ETH price.

Share in a few weeks Ethzilla quickly tripled After it was revealed that billionaire tech investor Peter Thiel and related entities have purchased a 7.5% stake in the company. Ethz has largely given up on these profits in recent weeks, but has dropped significantly after the company filed it to provide 74.8 million shares. The company has also announced plans to buy back shares worth up to $250 million.

The company is working on holdings, About $100 million management Ethereum Defi Protocol, Ministry of Finance of Etherfi. In late September, they raised an additional $350 million via Convertible Note to buy more Ethereum.

What is that unique name? Board Chairman McAndrew Rudisil said Decryption In July, it “focuses on becoming one of the world’s largest ETH owners.”

7. BTCSInc.

Blockchain Technology Consensus Solutions (BTCS) owns 70,140 ETH, worth approximately $277 million as of September 26th.

The company boasts a proactive strategy to win more Ethereum, and uses what is called a “strong debt/traffic financial model” to create value for shareholders, making its ETH run in the chain.

In addition to acquiring ETH, the company strengthened its Treasury Ministry on three Ethereum bases A stubborn penguin August NFT.

BTCS differentiates itself from other finance companies, pays shareholders “Vivid” to shareholders and shareholders $0.05 per share in Ethereum. An additional bonus of $0.35 per share is available to those who transfer the shares to the company’s transfer agent and hold them there until January 26, 2026.

BTCS recorded record revenue in the second quarter of $2.77 million, up 394% year-on-year. Stocks have grown 78% since the start of the year.

Editor’s Note: This story was originally published on August 17th, 2025, and new details were updated on September 26th.