A Nasdaq-listed investment firm has filed with the SEC to issue up to $5 billion in securities, with a large portion of the proceeds earmarked for Ethereum investments.
Based in Charlotte, the company’s S-3 filing under a shelf registration will allow it to issue securities over time and in multiple tranches. According to the prospectus, potential offerings include common and preferred stock, bonds, and options. An at-the-market program via ThinkEquity could also facilitate up to $4 billion in stock sales. The majority of the raised capital will fund its Ethereum treasury strategy, with the remainder allocated to working capital and operational expenses.
In July, the company announced a $200 million private funding round for ETH purchases, staking activities, and participation in DeFi projects. This latest filing signals plans to scale that strategy significantly.
If the full $5 billion is deployed into Ethereum, the move could surpass existing publicly traded Ethereum treasury companies. The model mirrors MicroStrategy’s Bitcoin strategy, offering investors direct ETH exposure via shares while targeting additional returns from staking and DeFi.
