Bit Digital(US:BTBT) 中国基金报·2025-07-23 09:27Core Viewpoint - The article highlights a significant shift in the strategy of U.S. publicly listed companies towards incorporating Ethereum into their core asset reserves, driven by the recent passage of the "Genius Act" which has established a federal regulatory framework for stablecoins [2][8]. Group 1: Market Reaction and Trends - Following the signing of the "Genius Act," Ethereum's price surged by 8% within 24 hours, reaching a new high of $3,600 and a market capitalization of $437.9 billion [2]. - The number of entities holding Ethereum increased from 40 in June to 59 by July 23, with the top 10 companies holding over 860,000 Ethereum, valued at approximately $3.2 billion, marking a 45% increase since June [4][8]. Group 2: Institutional Strategies - Companies are adopting various financing strategies to acquire Ethereum, including private placements, market offerings, and even selling Bitcoin to purchase Ethereum [8]. - Bit Digital, a digital asset platform, raised about $172 million through a public offering and used the funds to acquire 120,000 Ethereum, citing its potential to "reshape the financial system" [6][8]. Group 3: Changing Investment Logic - There is a notable shift in institutional investment logic from speculation to asset-liability management, with Ethereum being viewed as a "digital treasury bond" [9]. - Companies are engaging in staking and decentralized finance (DeFi) protocols to generate annual cash flows of 5% to 10% from their Ethereum holdings [9].