Ethereum Treasury

Sep 4, 2025 | Updated Dec 15, 2025

An Ethereum treasury is a corporate strategy of holding Ether (ETH) on the balance sheet as a productive asset to generate yield.

What Is an Ethereum Treasury?

An Ethereum treasury strategy involves a company, often publicly traded, allocating a portion of its capital to acquiring and holding Ethereum. Unlike a Bitcoin treasury, where Bitcoin is typically held as a passive store of value similar to digital gold, an Ethereum treasury treats ETH as a productive, yield-bearing asset.

This strategy has gained traction as companies look beyond simple price appreciation and seek to generate active returns from their digital asset holdings. The core appeal lies in Ethereum’s Proof-of-Stake (PoS) consensus mechanism, which allows holders to participate in staking—locking up ETH to help secure the network in exchange for rewards.

Companies like SharpLink Gaming (SBET), BitMine Immersion Technologies (BMNR), and Bit Digital (BTBT) have pioneered this approach, viewing Ethereum not only as a hedge against inflation but as an active component of their corporate finance strategy that can generate income and unlock new opportunities in decentralized finance (DeFi).

How Does an Ethereum Treasury Work?

Companies typically fund their Ethereum treasuries by raising capital through equity sales, such as private investments in public equity (PIPEs) or at-the-market (ATM) offerings. Some, like Bit Digital, have even sold existing Bitcoin holdings to pivot to an Ethereum-focused strategy.

Once acquired, the ETH is not left idle. The primary methods for generating returns include:

Staking: The company locks up its ETH in staking contracts to earn a consistent yield, paid in ETH. This provides a source of passive income and contributes to the security of the Ethereum network.
DeFi Participation: More advanced strategies may involve deploying ETH into DeFi protocols to earn higher yields through lending, providing liquidity, or other mechanisms. For example, GameSquare (GAME) partnered with a crypto-native firm to pursue enhanced returns.

To manage the technical and security complexities, these companies often partner with institutional custodians for secure storage and staking services. This approach allows them to leverage Ethereum’s potential while mitigating risks like smart contract vulnerabilities and private key management.

Learn how Ledger Enterprise helps institutions secure their digital assets: