Nasdaq-listed Bit Digital is the latest company to adopt the Ethereum standard, offloading all its Bitcoin holdings for the largest altcoin. The move has sent Bit Digital’s stock rallying by nearly 20% in a day as the company eyes becoming the largest Ethereum Treasury player Bit Digital Abandons Bitcoin For Ethereum Treasury According to a
Public companies are taking a more aggressive stance on Bitcoin (BTC) than even the much-celebrated exchange-traded funds (ETFs). For the third consecutive quarter, they acquired more BTC than ETFs in Q2 2025.
The trend signals a broader strategic shift among corporate treasuries to adopt Bitcoin as a balance sheet asset.
Corporate Treasuries Take the Lead in Bitcoin Accumulation
Based on the latest findings, public companies continue to uphold the MicroStrategy playbook, progressively mainstreaming the strategy in a crypto-friendly US regulatory environment.
According to data on Bitcoin Treasuries, public companies increased their BTC holdings by roughly 18% in Q2, adding approximately 131,000 BTC.
Exchange-traded funds, by comparison, despite their popularity since the US Bitcoin ETF approval wave in January 2024, only expanded their holdings by 8%, or around 111,000 BTC, during the same period.
The trend marks a clear divergence in buyer behavior. While ETFs typically serve investors seeking price exposure to Bitcoin through regulated financial products, public companies acquire BTC with a longer-term strategic mindset.
They aim to increase shareholder value by holding BTC as a reserve asset or to gain exposure to what many view as digital gold.
The last time ETFs outpaced companies in BTC acquisition was in Q3 2024, before Trump’s return to office.
New Corporate Entrants Signal Broader Adoption of Bitcoin Treasury Strategy
This Q2 surge included some high-profile moves, including GameStop. The electronics company, once at the center of retail trading frenzies, began accumulating BTC after approving it as a treasury reserve asset in March.
Similarly, Healthcare firm KindlyMD merged with Nakamoto, a Bitcoin investment company founded by crypto advocate David Bailey.
Nevertheless, Strategy (formerly MicroStrategy) remains the undisputed leader in the corporate Bitcoin race with 597,325 BTC under management. Mara Holdings follows, holding 49,940 coins.
While the long-term sustainability of the corporate Bitcoin rush is up for debate, the short-term momentum is unmistakable.
As Bitcoin becomes more normalized, traditional institutional investors may bypass proxies such as ETFs and treasuries, eventually gaining direct exposure through regulated channels. Still, corporate treasuries are acting as a powerful new mechanism for pushing Bitcoin forward.
With the regulatory climate aligned and equity markets offering new ways to access capital, companies are leveraging their balance sheets not just to hedge, but to outperform.
Veteran trader Peter Brandt has identified a chart pattern in Ethereum price that he believes may lead to a major price move. Known for his critical views on Ethereum, Brandt stated that the current congestion pattern on the ETH monthly chart could support what he called a “moon shot.”
Brandt shared the analysis on his social media, noting that ETH has been trading within a long-term symmetrical triangle pattern since 2021. This formation often appears during market consolidation and can lead to a strong price breakout if confirmed.
Ethereum Price Structure Suggests Breakout to $6000
According to Peter Brandt’s chart, Ethereum price has formed a large symmetrical triangle pattern on the monthly timeframe. This pattern is made of lower highs and higher lows, compressing ETH’s price into a narrowing range. The upper boundary connects the highs from 2021 and 2024, while the lower boundary has formed from the 2022 bottom and recent 2025 lows.
Brandt pointed out that this pattern could be the base for a large upward move. “This congestion pattern could support a moon shot,” he stated. He also mentioned that he generally avoids commenting positively on Ethereum price but sees technical strength in the current chart structure.
The ETH price bounced from the lower support of the triangle around $1,728 and $2,150 and closed the May 2025 bar at $2,314.46, with a monthly gain of $520.49. Brandt added that if Ethereum price breaks above the triangle resistance around $2,850–$2,900, the price could reach between $5,600 and $6,000.
ETH Price Pattern Matches 2020 Breakout Structure
Some analysts, such as Trader Tardigrade, have pointed out a repeating pattern from 2020. ETH formed a similar ascending triangle in 2020, followed by a strong rally from below $150 to above $400 in a few months. The current 2025 chart mirrors that setup, with a horizontal resistance level and rising support trendline.
The breakout in 2025 has been marked by a strong bullish candle and an implied rise in buying volume, adding credibility to the move. Ethereum price is currently forming a parabolic support curve under its price, similar to the 2020 structure that led to a multi-month rally.
According to the projection path from the triangle’s height, ETH could move toward $3,800 and beyond if the current breakout holds. Moreover, Institutional developments are also contributing to growing interest in Ethereum. This week, BlackRock filed for an Ethereum ETF with staking capabilities after the ETH upgrade, fuelling hopes of hitting a new ATH.
Whale Activity Add to Interest
While ETH continues its upward movement, on-chain data shows that accumulation wallets are receiving record inflows. A large blue bar on the chart signals the highest single-period inflow into accumulation wallets in ETH’s history since 2017. Despite this, the current Ethereum price is still 47% below its all-time high of $4,891 set in November 2021.
Recent whale activity has also attracted attention. A wallet linked to the Ethereum ICO has sold thousands of ETH in recent weeks. The ICO participant originally bought 76,000 ETH at $0.31 each and has been steadily liquidating holdings, including 1,900 ETH sold on Kraken for $4.44 million.
In addition, Brazil’s B3 exchange has announced that it will list ETH and SOL futures in mid-June, expanding crypto derivatives trading in Latin America. This move comes as the market sees higher stablecoin supplies and improved investor sentiment due to expectations of U.S. interest rate cuts.
CME Group has announced plans to launch XRP futures on May 19, pending regulatory approval. The new offering will include both a micro-sized contract (2,500 XRP) and a larger-sized contract (50,000 XRP), giving market participants flexible trading options. XRP futures will expand CME’s crypto product lineup, which already includes Bitcoin, Ether, and recently launched SOL futures. This move signals continued growth in the cryptocurrency market, catering to institutional investors’ needs.
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CME Group has announced plans to launch XRP futures on May 19, pending regulatory approval. The new offering will include both a micro-sized contract (2,500 XRP) and a larger-sized contract (50,000 XRP), giving market participants flexible trading options. XRP futures will expand CME’s crypto product lineup, which already includes Bitcoin, Ether, and recently launched SOL …