The NoOnes CEO told Cointelegraph that corporations are increasingly adding Ethereum to their treasuries, drawn by its utility, staking yield and dominance in tokenized assets protocols.
Corporations are increasingly viewing Ethereum as a critical infrastructure component, fueling a surge in ETH allocations within corporate treasuries, according to Ray Youssef, CEO of finance app NoOnes.
“Ethereum starts to look like a hybrid between tech equity and digital currency. This appeals to treasury strategists looking beyond passive storage,” Youssef told Cointelegraph.
Top corporate Ethereum treasuries have purchased at least $1.6 billion worth of Ether (ETH) in the past month. On Monday, BitMine, chaired by Fundstrat’s Tom Lee, revealed that it holds 163,142 ETH, valued at around $480 million.