Corporate Strategy for Ethereum: Buying and Staking Explained

Although the tendency to adopt crypto treasury methods with Bitcoin was a pioneer solution, that’s no longer the case. The trend has been evolving so far, reaching a vast number of digital assets. With a market cap of over $511 billion, Ethereum, the second-largest cryptocurrency globally, isn’t an exception in this race. In this guide, let’s analyze the phenomenon’s strengths and risks from an expert standpoint.

Why Companies Are Turning to Ethereum

Let’s roll straight into the topic and introduce you to the reasons behind the ever-increasing popularity of Ethereum as an investment instrument for corporate crypto holders:

Dual role asset — one of the key factors to favor Ethereum lies in its multifaceted functionality. If you employ staking mechanisms, it will work as a yield-generating tool. At the same time, don’t overlook its store of value.
On-chain productivity — while Bitcoin reserves are rather passive, Ethereum can generate income streams for its holders, for instance, via DeFi deployment.
Market narrative — another reason is how the increased exposure of this asset is linked with the evolution of Web3 technologies, which can’t help but attract the attention of several investors.
Future-proofing — it is backed up by smart contracts and benefits from the growth of the tokenization movement, elevating its status across markets.
Liquidity and infrastructure — in addition, it’s become easier to integrate ETH into treasure operations, due to modern staking services and deep exchange markets.

Notable Companies Accumulating Ethereum

The list of companies that have publicly disclosed Ethereum purchases keeps increasing. Here are the frontrunners who accelerate the speed and scale of their Ethereum accumulation. Check the following:

BitMine Immersion (BMNR) — 1,150,263 ETH in holdings with an approximate value of over $6 billion; Tom Lee’s prediction is $60K ETh, raising to $24.5 billion.
SharpLink Gaming — 728,804 ETH in holdings (around $3.2 billion). The goal is 1M ETH, with Joe Lubin (Ethereum co-founder) as the company’s chairman.
The Ether Machine — 345,362 ETH in holdings (around $1.5 billion), with a focus staking & DeFi. The company was founded via its merger with Dynamic Corp.
Coinbase — 136,782 ETH in holdings (around $602 million). It’s also a famous BTC holder, i.e., over 11K BTC. In turn, this is the top US crypto exchange platform.
Bit Digital (BTBT) — 121,076 ETH in holdings ($530 million). Its notable move is the abandonment of BTC mining for the sake of full ETH-based operations.
ETHZilla (ex-180 Life Sciences) — 82,186 ETH in holdings ($362 million). It raised $425 million with PIPE and rebranded for ETH focus.
BTCS Inc. — 70,140 ETH in holdings ($309 million, approximately). It uses DeFi and TradFi strategies, having added Pudgy Penguins NFTs to its arsenal.

Motivations Behind Corporate ETH Purchases

The development and implementation of new regulatory frameworks for stablecoins and cryptocurrencies, e.g., the U.S. GENIUS Act 2025, contribute to the accelerating rise of ETH purchases. It’s not just about tech firms anymore — players from other markets, including the iGaming industry, can also proceed with corporate ETH adoption and yield money with this asset as a core powerhouse. Although the primary focus was on Bitcoin, the wave of interest in Ethereum in the corporate world shouldn’t be taken lightly:

Yield & cashflow — the strategic value lies in turning treasury reserves into income via staking, whereas Bitcoin lacks native yield tools.
Diversification — this reduces single-asset dependence and adds exposure to a broader blockchain economy.
Infrastructure access — it enables ETH use in DeFi and smart contracts, while BTC is mostly a passive store of value.
Future-proofing — ETH aligns with Web3 and tokenized assets, while BTC is seen as digital gold and less as a utility.
Market signaling — this asset enhances the brand’s reputation, making it innovation-forward.
Inflation hedge & productivity — this combines scarcity with active returns, whereas BTC is suitable for hedging only, with no yield.
Liquidity & accessibility — it supports flexible balance sheet moves, which is similar to BTC liquidity. However, the difference lies in ETH’s role as a utility.

Corporate Ethereum Staking Strategies

Discover the latest standards for crypto treasure management. Learn more about the modern and classic tactics to shape your strategy and stay on top of regulatory and market developments:
Direct Validator operations — In-house running validators (32 ETH per minute), which benefit from full control of the process with higher margins and maximum trust. However, this strategy requires tailored preparations — targeted performance with a secure infrastructure, well-trained staff, and security measures for effective operations.
Custodial staking — delegate staking to regulated custodians. This is a compliance-friendly practice with professional security at its core, but it suffers from less control of the results, fees to handle, and dependence on the target custodian.
Staking pools — join shared validator pools for easy access with low entry requirements. On the other hand, this method is known for less transparency, with diluted rewards in mind.
Liquid staking derivatives — stake via LSD protocols (e.g., stETH) for tradable, yield-bearing tokens with balance sheet flexibility. However, you will be exposed to smart contract risks that come hand in hand with depeg risks (when a stablecoin’s price is below its fixed value unit).
Hybrid mix — with multiple models combined, you benefit from flexible treasury use with diversified risks. Still, you may face the risk of tax issues and increased complexity in reporting the company’s ETH operations.
Treasury-linked use — allocate staking yields to operations, which converts idle ETH into recurring inflows. On the contrary, this approach requires careful planning of volatility to stay on the safe side of the deal.

Key Risks for Corporate ETH Buyers

While public companies that invest in this asset take its overall accessibility for other investors to another level, you should be cautious of potential challenges that come to the playground if you don’t handle the deal smartly and responsibly:

Market volatility — ETH’s price swings can erode treasure value quickly. As of April 9, 2025, the asset’s price dropped and reached $1,472.6 per coin, while it was closer to its prime as of August 14, 2025, — $4,756 per coin. For your reference, the all-time high was on November 16, 2021, and reached $4,891. Given the severe impact of macroeconomic factors on the market sentiment, shifting from bearish to bullish momentum and vice versa, the next switch may be around the corner.
Overleverage — it may be caused by heavy borrowing by companies or stock-based raises tied to the risk of cascading liquidations.
Operational risks — this is especially valid for corporate ETH buyers who aren’t seasoned with how the cryptocurrency market works. Any issues related to treasury, custody, or coin staking strategies may have a negative impact on potential returns on investment.
Concentration risk — if the company’s investment portfolio becomes less diversified, it may be less adaptable to future fluctuations in the market, as well as the price swings of the ETH asset itself.
Regulatory uncertainty — the way cryptocurrencies, securities, and the related taxes are regulated isn’t stable, so any changes may potentially restrict your company’s holdings.
Liquidity pressure — last but not least, the digital asset’s price can be depressed by the whales’ behavior, including forced exits or sales by large corporations.

Comparing ETH Purchases to MicroStrategy’s Bitcoin Play

The two giants that stand behind the evolution of Bitcoin and Ethereum investment are MicroStrategy and Sharplink, respectively:

Strategy (former MicroStrategy) — this brand has built its reputation as both an analytical enterprise and the world’s largest Bitcoin corporate holder. Its BTC strategy purely targets this asset and is clear and long-term, financed by debt and equity raises.
SharpLink — this company’s ETH play is ecosystem-driven and based on the activities of a small-cap organization, backed up by fellow holders like Pantera, ParaFi, and Consensys for skyrocketed ETH accumulation under the same roof.

Here is how you can compare the performance of these two corporate cryptocurrency holders in the market — Strategy vs. SharpLink (Ethereum’s MicroStrategy):

Core businesses — enterprise analytics & BI software vs. the evolutionary path from sports marketing to a pivoting power in the ETH reserve market.
Asset focus — Bitcoin (BTC) vs. Ethereum (ETH).
Holdings — over 528,000 BTC (as of 2025) vs. a target point at around 120,000 ETH via a $425 million raise.
Funding model — debt & equity raises (convertible bonds, ATM offerings) vs. share insurance and ETH ecosystem-backed financing.
Narrative — BTC as an inflation hedge & digital gold vs. ETH as a financial reserve and staking yield.
Strategy — no asset sales (for buying and holding only) vs. buy and stake deals with the use of flywheel financing for growth.
Backers — led by Michael Saylor, conviction-led vs. ETH ecosystem investors (Consensys, Pantera, Galaxy, and so on).
Market role — pioneer corporate BTC adoption vs. the first “ETH reserve listed company.”
Broader impact — made BTC a corporate treasury asset vs. positioning ETH as a Wall Street-friendly reserve asset.

The influence of such holders on how the market works shouldn’t be underestimated. One of the key changes is the indirect exposure of assets to potential investors — interested parties can now gain the desired stocks via tradable shares rather than holding crypto coins directly. It also makes the experience simpler to handle, as such corporations act as a regulatory shield, reducing compliance and legal hurdles for engaged members of buy-and-sell crypto deals.

Case Study: Corporate Moves into TON

The revolutionizing power of crypto assets is typical not just for Bitcoin and Ethereum — such ecosystems as Toncoin (TON) are also worth paying attention to. Verb Technology is among the first companies to undergo a major rebranding strategy, integrating TON in its company’s infrastructure and acting as a TON-focused treasury. Here are the key motivations behind this transition — check the following.

Treasury Allocation

With Verb Technology’s strategies as a leading example, here is how the transition can work:

Strategic implementation — convert a significant portion of the company’s net income to TON.
Advantages — diversification and digital reserve growth.
Considerations & risks — exposure to crypto market fluctuations.

Staking Integration

The key guidelines are as follows:

Strategic implementation — stake TON tokens to generate yield.
Advantages — passive income (up to 8% with smart management), with self-funded operations in mind.
Considerations & risks — this requires secure wallet management and operational monitoring.

Liquidity Management

Let’s walk you through the nuances that matter:

Strategic implementation — utilize exchanges and the TON ecosystem for extra conversions.
Advantages — quick asset conversion while supporting the brand’s operational cash flow.
Considerations & risks — market liquidity may vary in stress periods.

Regulatory Compliance

It is one of the most crucial perks for companies who consider functioning as a crypto treasury with TON at its core:

Strategic implementation — leverage TON’s programmable protocols.
Advantages — this simplifies reporting and governance.
Considerations & risks — your performance must remain updated on jurisdiction-specific rules.

Institutional Partnership

Here are more details about another aspect of the transition, which might be underestimated by startups:

Strategic implementation — engage investors (in the case of Verb Technology, partners like Pantera Capital, Kraken, BitGo, etc.)
Advantages — this boosts credibility while stabilizing market demand for this asset.
Considerations & risks — dependence on investor confidence and market perception.

Market Context and Timing: Why Now?

While Bitcoin has proven its efficiency and has become a credible tool for corporate crypto adoption, modern companies require more tools at their disposal. That’s when Ethereum comes in handy. In comparison with BTC, ETH allows for more flexible and adaptable operations while its staking generates passive yield. The global regulatory environment also favors such changes, streamlining the integration of this digital asset for transparent treasury performance. Don’t forget about network upgrades like PoS and scalability improvements — a great move for ETH’s long-term sustainability. With high daily trading volumes, it also allows for an efficient entry and exit strategy.

Long-Term Outlook for Corporate ETH Adoption

One of the projected changes is the institutionalization of the ETH treasures. More companies can capitalize on the advantages of Strategy’s ETH model. In the long run, safer and more transparent integrations of ETH and traditional financial markets are to be expected. This interest in the corporate use of crypto assets of any caliber contributes to the overall stability of the network, which may lead to an enhanced value of the chosen token, in turn.

At the end of the day, the corporate ETH adoption has already become a trend. However, without smart and tailored management techniques, potential risks may surpass their value and turn into an overleveraged event for an organization.

FAQs

Why would a company choose Ethereum over Bitcoin for its treasury?

One of the primary reasons is the multifaceted efficiency of ETH assets — for staking yield, DeFi deployment support, and so on. In comparison, BTC is a 100% store-of-value model at its core.

Is the TON example a sign of diversification beyond Ethereum and Bitcoin?

Yes, it is. It showcases the ever-growing interest of audiences in alternative digital assets that stand out in terms of lower relative volatility, liquidity, and staking income benefits.

How do accounting standards currently treat Ethereum holdings?

Fair value reporting depends on the local regulatory framework in your region. Typically, Ethereum holdings belong to intangible assets at cost.

How Companies Buy and Stake Ethereum: Expert Analysis