Ethereum treasury firm ETHZilla today announced a share buyback program of up to $250 million of its outstanding common stock. The company also revealed that it now holds more than 102,000 ETH on its balance sheet. ETHZilla Increases Ethereum Holdings According to today’s announcement , ETHZilla currently holds a total of 102,237 ETH at an average acquisition price of $3,948. Executive Chairman McAndrew Rudisill commented: At ETHZilla, we continue to deploy capital to accelerate our Ethereum treasury strategy with discipline and record speed, As we continue to scale our ETH reserves and pursue differentiated yield opportunities, we believe an aggressive stock repurchase program at the current stock price underscores our commitment to maximizing value for shareholders. ETHZilla’s Ethereum holdings are now valued at more than $489 million. This latest acquisition positions the company as the fourth-largest publicly traded firm with an Ethereum treasury. Data from CoinGecko shows that digital assets mining firm Bitmine Immersion currently holds the largest in the world with more than 1.7 million ETH on its balance sheet. It is followed by SharpLink with more than 740,000 ETH in its crypto reserves. Notably, ETHZilla still maintains close to $215 million in cash equivalents. Following today’s announcement, its shares rose 6% to trade above $3.50. Year-to-date, the stock is up over 92%. ETH Adoption Outshing Bitcoin Adoption? While adding BTC as a part of the corporate treasury strategy has been a practice for a few years, seeing companies take the same approach with ETH has been the theme of 2025. Compared to previous years, a wide range of companies began adding ETH to their treasuries this year. For instance, Nasdaq-listed SharpLink Gaming unveiled another major ETH purchase last week, bringing its total ETH holdings to over $3 billion. Similarly, another publicly traded firm – BTCS Inc. said it had bought more than 14,500 ETH last week. Currently, BTCS Inc. is placed sixth in the list of publicly traded Ethereum firms, holding more than 70,000 ETH. Another Nasdaq-listed software firm, GameSquare invested $5 million in ETH as part of its investment strategy. The firm aims to invest as much as $100 million in ETH and other digital assets. The spillover effects of a strong corporate demand for ETH can also be seen in the performance of ETH-based crypto investment products. In July 2025, ETH-based investment products attracted total inflows worth $907 million. Meanwhile, crypto pundits continue to give ambitious ETH price targets, with some as high as $10,000 ETH. At press time, ETH trades at $4,635, down 3.9% over the past 24 hours.
