The Bloomberg report disclosed that the group behind this trust is currently having discussions about acquiring a Nasdaq-listed shell company to facilitate the vehicle launch. According to the cited sources, the project has already raised about a total of $1 billion, including $200 million from Avenir Capital and $500 million from Asian institutional players such as Hongshan Capital Group.
With the discussions around the structure of the Ethereum trust still ongoing, the people familiar with the matter said the details of the venture could still change before launch. Meanwhile, an announcement on the treasury launch is expected to arrive in the coming two to three weeks.
Chalom tied his claim of Ethereum being the better treasury asset due to its higher volatility and staking capability. According to the Sharplink co-CEO, Bitcoin’s relative lower volatility might be due to more coins being held (without trading) through exchange-traded funds.
According to a recent report, Sharplink Gaming boasts a holding of 840,124 ETH tokens, valued at approximately $3.19 billion at the current market price.
