Ethereum Rally Spurs 10% Jump in ETH Treasury Stocks
On August 7, Ethereum surged 5.5% to $3,818, driving record on-chain metrics—highest transaction volume in a year and nearly 30% of ETH staked—and triggering pre-market gains of up to 10% in U.S. ETH-linked treasury stocks, including SBET, BMNR and BTCS. Analysts link the rally to robust transaction volumes, rising staking levels and recent SEC guidance easing liquid staking, fueling debate between ETH treasury stocks and spot ETFs. Treasury stocks hold net ETH levels comparable to ETFs but offer regulatory, valuation and capital-structure advantages, says Standard Chartered. SBET leads with normalized NAV multiples, strong liquidity and a recent listing on Injective. Growing institutional demand suggests a shift from passive Ethereum ETFs to more flexible ETH treasury stocks.
Bullish
The report highlights Ethereum’s price surge, record transaction volumes and rising staking rates, which have spurred demand for ETH-linked treasury stocks. Eased SEC guidance on liquid staking and institutional interest in flexible capital structures point to continued inflows into ETH assets. In the short term, momentum from on-chain activity and pre-market gains should support further price increases. In the longer term, growing staking levels and institutional allocation to treasury stocks over ETFs signal sustained demand and enhanced network value, underpinning a bullish outlook for ETH.