Ethereum-Backed Stocks Surge Amid Institutional Shift to Ethereum
On July 4, 2025, Ethereum-backed stocks experienced a significant rally, driven by a notable shift in institutional interest from Bitcoin to Ethereum. Publicly listed companies such as BitMine and Bit Digital are actively exchanging their Bitcoin reserves for Ethereum, reflecting a broader trend in the crypto market.
On July 2, stocks related to Ethereum treasuries surged by over 25%. This rally was fueled by several corporations announcing their plans to convert their reserve holdings into Ether. BitMine Immersion Technologies, previously a Bitcoin mining company, declared Ethereum as its primary reserve, leading to a 27.17% increase in its share price, BMNR. Similarly, SharpLink Gaming, which began its treasury strategy in May, holds 198,167 ETH and has received 222 ETH in staking rewards since June 2. Its Ethereum-linked stock, SBET, rose by 28% on Wednesday, further supporting the bullish trend in Ethereum holdings.
Bit Digital, another company transitioning from Bitcoin mining to a focus on Ethereum staking and treasury, utilized capital from a $162.9 million share sale to purchase Ethereum. On July 2, its share, BTBT, closed at 13.85%.
Devin Ryan, Head of Financial Technology Research at Citizens, highlighted that the growing institutional demand for Ethereum is reshaping the market landscape.
Bitmine’s Surge to Four-Year Peak Spurs ETH Interest
Bitmine Immersion Technologies Inc. reached a four-year price peak, doubling its value in just two days. The company’s announcement of a $250 million facility to build an Ethereum treasury triggered a 3,000% rally. Following the closure of a $250 million private placement on July 3, Bitmine’s stock surged by over 100%, reaching $135 for the first time since April 2021.
Starting from all-time lows, Bitmine rose from a $1 mining stock to over $135 within a week, leading the pack of Ethereum treasury stocks. This growth trend also positively impacted Sharplink Gaming, with its shares climbing from $9.50 to over $12.60. Although SBET shares are still below their peak, the recent recovery indicates sustained enthusiasm for Ethereum treasuries.
BitDigital, Inc. also reached a one-month high of $2.94, further illustrating the momentum behind Ethereum treasuries.
Sportbet.one Token Overview
As of July 2, 2025, the Sportbet.one Token, a cryptocurrency, closed at a price of 0.00388207. The token’s 52-week high was 0.00568785 on April 26, 2025, and its 52-week low was 0.00328845 on June 12, 2025. The market capitalization of Sportbet.one Token stands at 491,411.62.