8-8-2025 – Ethereum co-founder Vitalik Buterin has endorsed public companies holding Ether (ETH) as treasury assets, citing their role in expanding investor access to the cryptocurrency. In a Bankless podcast interview released Thursday. Buterin praised these firms for offering “valuable services” by enabling broader exposure to ETH without direct token ownership, particularly for investors with diverse financial needs.
However, Buterin cautioned that excessive leverage could destabilize these treasury firms, potentially harming Ethereum’s ecosystem. He warned that a sharp decline in ETH’s price might trigger forced liquidations, leading to a cascade of sell-offs and a loss of market credibility. The market for such firms has grown significantly, reaching $11.77 billion, with BitMine Immersion Technologies and SharpLink Gaming leading holdings at $3.2 billion and $2 billion in ETH, respectively.
Buterin expressed confidence in the discipline of ETH investors, distinguishing them from riskier ventures like the 2022 Terra collapse. The trend of treasury firms has fueled ETH’s 163% price surge in 2025, narrowing the gap with Bitcoin and Solana. Still, responsible management remains critical to sustaining this momentum.
