Ethereum (ETH) sees another major institutional move as an investment firm buys 15,000 ETH, surpassing Ethereum Foundation’s holdings to become the third-largest corporate holder.
Institutional demand for Ethereum remains strong, with a crypto-focused investment firm recently announcing the purchase of 15,000 ETH at an average price of $3,809, totaling approximately $56.9 million. This latest acquisition pushes their total Ethereum reserves to 334,757 ETH, surpassing the Ethereum Foundation's approximate 234,000 ETH holdings, and positioning the firm as the third-largest institutional player behind Bitmine and SharpLink Gaming.
Additionally, the firm still has $407 million allocated for future Ethereum purchases, aligning with its strategy to go public on Nasdaq under the symbol ETHM. The company, expecting to raise around $1.6 billion from the IPO planned for Q4 2025 or later, emphasized its long-term commitment to the Ethereum ecosystem. Andrew Keys, co-founder of the firm, stated: "There's no better way to celebrate Ethereum's 10th anniversary than by expanding our ETH holdings," underscoring the asset’s role in shaping the future of the internet economy.
