Ethereum co-founder highlights value and risks of public firms holding Ether
Ethereum co-founder Vitalik Buterin has voiced his support for the growing presence of public companies investing in Ethereum (ETH), calling it a healthy trend for widening investor access. However, he also issued a clear warning about the dangers of excessive leverage within the rapidly growing crypto treasury sector.
Speaking in a recent interview, Buterin acknowledged the value of ETH treasury companies—firms that raise capital to buy and hold Ether—saying they offer “more options” for investors who may not want to hold tokens directly.
“There’s definitely valuable services that are being provided there,” Buterin noted, praising the expanded exposure to ETH through traditional financial routes.
Crypto treasury firms have emerged as a major force in digital asset accumulation, with $11.77 billion worth of Ether currently held by publicly listed firms. Notable players include:
BitMine Immersion Technologies with 833,100 ETH ($3.2B)
SharpLink Gaming with $2B in holdings
The Ether Machine holding $1.34B
These firms are now shaping the ETH market and even impacting price movements during bullish cycles.
“These are not Do Kwon followers that we’re talking about,” Buterin emphasized, distancing current firms from past collapses like Terra.
Are ETH Treasuries good for Ethereum?@VitalikButerin thinks they can be:
“ETH just being an asset that companies can have as part of their treasury is good and valuable… giving people more options is good.”
Despite his support, Buterin expressed concerns that excessive leveraging of ETH holdings could trigger a market-wide crisis. He outlined a potential scenario where falling ETH prices could lead to forced liquidations, creating a cascading collapse.
“If treasuries led to the downfall of ETH, it would likely be because they turned it into an overleveraged game,” he warned.
ETH’s Comeback and Outlook
ETH has staged a dramatic rebound in 2025, rising from a low of $1,470 in April to nearly $3,870, a 163% gain. Analysts believe the rise of ETH treasury firms has played a key role in this recovery, helping Ethereum regain ground in the ongoing crypto bull market.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.
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