A smart institution has realized $30M in ETH profits while still holding 100,000 ETH, reflecting strong long-term confidence.
GameSquare, Bit Digital, and BTCS are accelerating Ethereum treasury strategies, signaling a major Nasdaq pivot toward ETH.
Nasdaq-listed firms are shifting from Bitcoin to Ethereum, with over $700M in planned ETH purchases fueling rising institutional demand.
A smart institution that bought $333.78 million in Ethereum (ETH) in mid-June has begun offloading its holdings. According to Spot On Chain, the entity sold 33,585 ETH for $85.38 million in USDC over the past seven hours. With an average selling price of $2,542, the institution secured $806,000 in profit from the recent dump. Despite the sale, it still holds 100,000 ETH, worth approximately $261.4 million, in staked assets. This action adds to growing institutional interest in Ethereum as a core treasury asset.
GameSquare and SharpLink Make Bold Ethereum Moves
GameSquare Holdings, a Nasdaq-listed gaming and media company, has joined the ETH treasury movement. On July 8, it revealed board approval for a $100 million Ethereum treasury strategy. The plan includes phased investments and begins with an $8 million raise through a public offering. GameSquare is offering over 8.4 million shares at $0.95 each to kickstart this allocation.
Meanwhile, SharpLink, another player in the gaming AdTech, has already committed nearly $500 million to Ethereum. Backed by Consensys, it has pivoted fully toward crypto. Unlike SharpLink, GameSquare is testing market appetite before making larger moves. Its initial raise is smaller but reflects a shift toward ETH-focused treasury management.
More Nasdaq Firms Follow the Ethereum Path
Besides GameSquare and SharpLink, Bit Digital also shifted its focus. The firm raised $172 million and sold 280 BTC to buy ETH. It plans to end Bitcoin mining operations and hold Ethereum exclusively in its treasury. Hence, it becomes the first Nasdaq-listed firm with a pure ETH treasury strategy.
Additionally, Blockchain Technology Consensus Solutions (BTCS) joined the trend. The company announced intentions to raise $100 million to accumulate Ethereum as well. Consequently, institutional Ethereum accumulation is gaining momentum across public firms.
Ethereum Price Climbs as Demand Grows
Ethereum is trading at $2,723.99, up 4.17% over the last 24 hours. Its daily trading volume reached $20.35 billion, and market cap rose to $328.83 billion. Moreover, this growing interest from Nasdaq-listed firms highlights Ethereum's emerging role as a treasury reserve. These moves mirror Bitcoin's adoption wave from years ago—but with a clear Ethereum twist.
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