The Japanese company Quantum Solutions has quickly become the largest corporate investor in Ethereum outside the United States. The company, which is backed by Cathie Wood’s American investment fund ARK Invest, bought $9 million worth of Ether in one week.
Quantum Solutions cooks al 3,866 Ethereum
Founder Francis Zhou announced on Thursday that the company now owns 3,866 Ethereum. “We are now officially the largest Ethereum treasury outside the US,” said Zhou, indicating that purchases will further ramp up in the coming weeks.
According to figures from CoinGecko, Quantum Solutions is now the largest Ethereum Digital Asset Treasury (DAT) in Japan and the eleventh largest worldwide. The company also owns a small Bitcoin stash of 11.6 BTC, worth approximately $1.3 million.
Ambitious plan: 100,000 Ethereum
Quantum Solutions raised $180 million in late September to build a treasury of 100,000 Ether. It received support from investment funds such as ARK Invest and Susquehanna International Group (SIG).
Japan remains one of the few countries where listed companies are allowed to hold digital treasuries. In other markets in the region, such as Hong Kong, India and Australia, these structures are much more strictly regulated.
Cathie Wood, founder and CEO of ARK Invest, expressed her support for the Japanese approach. “Three months into the DAT revolution, we are proud to support Japan’s first institutional Ethereum treasury,” she said Thursday.
Reduced hype around digital treasuries
Still, the excitement around digital treasuries seems to be waning somewhat. The share prices of large companies that hold a lot of crypto have fallen in recent weeks.
Investment legend Tom Lee, chairman of BitMine, the largest corporate holder of Ethereum worldwide, previously wondered whether the hype has reached its peak. Researchers at 10x Research even called it “the end of the era of financial wizardry” for Bitcoin treasuries.
However, Lee himself remains optimistic and has taken advantage of the recent price falls to buy more.
Source: https://newsbit.nl/japans-bedrijf-koopt-voor-miljoenen-aan-ethereum-grootste-eth-schatkist-buiten-vs/
