BTC Digital “Switch To ETH Instead Of BTC”…Announcing Focused Investment In Ethereum

Nasdaq-listed company BTC Digital (Ticker: BTCT) announced it would convert all its existing Bitcoin (BTC) holdings to Ethereum (ETH) and manage its core assets with ETH in the future.

The company formalized this strategic shift in a statement on the 17th, stating, “We plan to hold tens of millions of dollars worth of ETH by the end of the year.” Previously, BTCT raised $6 million via a direct public offering of stock, announcing that the funds would be used to purchase ETH.

This move draws attention in conjunction with the recent discussion of stablecoin legislation by U.S. politicians and the strengthening position of Ethereum as an infrastructure asset. ETH is especially functioning as a key platform in various fields such as DeFi, Stablecoin, ETF, etc., raising the possibility of expanding institutional demand compared to BTC in the future.