Ethereum Treasuries of Public Companies

We avoid third-party data submissions which are known to introduce biases. Our software independently obtains holdings updates from primary sources in real time. Identified data undergoes manual verification before figures are added to our dataset. This ensures reliable, independent tracking.

We do not include over-the-counter (OTC) stocks in our listings. These often suffer from low trading volume, limited regulatory oversight, and a higher risk of fraudulent or activities, which could mislead users. Our scope is limited to major exchange-listed (e.g., NASDAQ, NYSE) public companies for verifiable and liquid exposure.

Mere announcements of intended Ethereum acquisitions are not counted as confirmed holdings. We only track actual, reported ownership to avoid speculation. For example, if a company states plans to buy 1,000 ETH but has not yet confirmed the completion of this via filings or press release, it won't appear in our data.

We distinguish between direct spot Ethereum ownership and holdings in Ethereum exchange-traded funds (ETFs). ETF positions are not treated as equivalent to a company's own treasury reserves, as they represent pooled, managed assets rather than direct corporate custody. This ensures our metrics reflect true on-balance-sheet Ethereum exposure, such as in eth per share calculations. As such, companies who purely have holdings in Ethereum ETFs are excluded from our platform.

You can explore historical Ethereum Treasury data by scrolling through monthly records or selecting specific companies to view acquisitions and disposals of ETH. Key metrics are also visualized through interactive charts to help you analyze trends over time.

Value refers to the USD equivalent of a company's Ethereum Treasury. By default, this figure is calculated using the current Ethereum market price for the most recent holdings data. When viewing historical data, the value is calculated based on the Ethereum market price on the date the holdings were reported. This approach ensures the valuation reflects the price at the time of each disclosure, providing an accurate snapshot of the company's Ethereum worth for both current and past reports.

Ethereum Per Share is a metric that shows how much Ethereum exposure an investor gains per share of a publicly traded company's stock. It's calculated by dividing the company's total Ethereum holdings by the number of outstanding shares. For example, if a company holds 5,000 ETH and has 50 million shares outstanding, it would have 0.0001 ETH per share.

mNAV, or Ethereum NAV Multiple, is a metric that shows how highly a company's Ethereum treasury is valued by the market. It's calculated by dividing the company's market capitalization by the USD value of its Ethereum holdings. By default, the USD value is calculated using the current Ethereum market price for the most recent holdings data. When viewing historical data, the USD value is based on the Ethereum market price on the date the holdings were reported. For example, if a company has a market cap of $500 million and holds $100 million worth of Ethereum , its mNAV would be 5. This means the market is valuing the company at 5 times the value of its Ethereum holdings, potentially reflecting premiums for other assets, operations, or investor sentiment.

%Mcap is the percentage of a company's market capitalization that is represented by the USD value of its Ethereum Treasury. It is calculated by dividing the value of the company's Ethereum holdings (in USD) by its total market cap, then multiplying by 100 to express it as a percentage. This metric gives investors a sense of how significant Ethereum is to the company's overall valuation.