Several companies, including Bit Digital and BTC Digital Ltd, have shifted their treasury assets from Bitcoin to Ethereum, with BTC Digital converting all its Bitcoin holdings into Ethereum as part of a strategic move and a recent $6 million funding round.

Bit Digital has acquired approximately 100,603 ETH, valued at around $254.8 million, after transitioning its treasury to Ethereum.

This influx of capital into Ethereum indicates a growing institutional confidence in its potential within decentralized finance and as a treasury asset.

As of today, Ethereum's market capitalization has surpassed $420 billion, fueled by renewed interest following President Trump's support for Ethereum during his second-term inauguration announcement.

Major firms, including BitMine Immersion, now hold over $1 billion in Ethereum, representing a 300% increase from their initial investments, with plans to acquire about 5% of the total Ethereum supply.

In addition to Ethereum, other companies like Bit Origin are exploring diverse treasury strategies, including investments in alternative cryptocurrencies such as Dogecoin.