- Bit Digital sells off Bitcoin and invests $172 million to acquire over 100,000 ETH.
- Industry experts predict a major increase in companies holding Ethereum and Solana on their balance sheets.
Bit Digital, a Nasdaq-listed company, has made a bold move by completely changing its treasury strategy. They’ve decided to move away from Bitcoin and put all their focus on Ethereum. This decision comes as analysts expect a big rise in companies adopting Ethereum for their financial holdings.
Why the Shift to Ethereum?
Bit Digital recently announced it used $172 million from a public offering and the sale of 280 Bitcoin (BTC) to buy 100,603 Ethereum (ETH). This makes them one of the largest public companies to hold such a large amount of ETH.
This is a huge jump from the 24,434 ETH they held at the end of the first quarter of 2025, showing more than a 300% increase.
The company’s CEO, Sam Tabar, explained that Bit Digital plans to invest even more in Ethereum. He believes in Ethereum’s long-term potential and aims for Bit Digital to become the leading Ethereum holding company worldwide.
This move follows an earlier announcement by the company last month about shifting from Bitcoin mining to an Ethereum-focused treasury.
Other companies are also showing increased interest in holding Ethereum. SharpLink Gaming is another major ETH treasury allocator, and BitMine recently announced plans to buy $250 million worth of ETH.
This growing trend aligns with the rising popularity of stablecoins, which are digital currencies designed to maintain a stable value. Ethereum currently holds a 50% market share in the stablecoin sector.
Experts from CF Benchmarks believe that as banking and fintech companies launch more stablecoins (especially with the expected approval of the GENIUS Act in the House), these firms will need to hold ETH or Solana (SOL) to cover transaction fees. They also anticipate that payment companies and e-commerce platforms will accumulate ETH and SOL for their operations.
According to CF Benchmarks, the number of institutions holding ETH and SOL could increase ten times in the next year. This is further supported by recent data showing that Ethereum investment products have seen eleven consecutive weeks of strong inflows, indicating a notable shift in investor sentiment towards Ethereum.
In the past 24 hours, Ethereum saw $65.54 million in futures liquidations, with $26.16 million in long liquidations and $39.38 million in short liquidations, according to Coinglass data. Despite these liquidations, ETH remained stable over the weekend. It’s currently trading at $2,550, down 1% in the last 24 hours. It tested the upper boundary of a symmetrical triangle that has been in place since June 11 but was rejected.Â
This weekend’s activity has pushed ETH towards the apex of the triangle, suggesting a potential breakout. If ETH breaks out of this triangle, and then a larger symmetrical triangle from April 9, it could either rise to test the $2,850 resistance level or fall towards the $2,110 support level. The Relative Strength Index (RSI) and Stochastic Oscillator (Stoch) are trending downwards toward their neutral levels, indicating a decline in bullish momentum.
