Publicly traded firms are amassing significant Ethereum (ETH) reserves, totaling more than 3.7 million ETH valued at nearly $17 billion, representing over 3% of the total ETH supply. Leading this trend are companies like BitMine Immersion Technologies, which acquired over 1.15 million ETH, spearheaded by Tom Lee from Fundstrat. SharpLink Gaming follows closely with 728,804 ETH, pivoting to focus on Ethereum under the leadership of Ethereum co-founder Joe Lubin. Other notable firms include The Ether Machine with 345,362 ETH, Coinbase holding 136,782 ETH, and Bit Digital which recently increased its ETH reserves while transitioning from Bitcoin mining. ETHZilla, a former biotech company, raised $425 million to establish its Ethereum treasury, acquiring 82,186 ETH. BTCS Inc. rounds out the list with 70,140 ETH and a strategy focusing on DeFi. The shift towards Ethereum among these firms underscores the growing interest in cryptocurrency treasury management beyond just Bitcoin.

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