Bit Digital has transitioned its corporate treasury strategy from Bitcoin to Ether, believing Ethereum will transform the financial system. The company utilized $172 million from a recent public offering and funds from selling 280 Bitcoin to purchase 100,603 ETH, thus becoming the second-largest publicly traded ETH holder after Coinbase. Following this announcement, Bit Digital's stock surged over 29%, boosting its market cap beyond $1 billion. CEO Sam Tabar stated the goal is to become a leading Ethereum treasury platform in public markets. This shift reflects a broader trend, as while Bitcoin accumulation has been popular among corporate treasuries, institutional interest in Ethereum remains comparatively low. However, Ethereum-related investment might be gaining traction, with recent inflows into ETH exchange-traded funds suggesting a changing sentiment toward Ethereum as an investment.

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