- SEC Chairman Paul Atkins confirmed ETH is “not a safety” and praised market adoption.
- Firms like Bit Digital and SharpLink Gaming now maintain a whole bunch of hundreds of ETH in treasury.
- Stablecoin approval and 401(ok) entry to crypto funds sign rising regulatory acceptance.
Ethereum’s standing simply received a significant nod from the highest. SEC Chairman Paul Atkins, talking on CNBC’s Squawk Field on July 21, stated the company has “acknowledged informally greater than formally” that Ethereum (ETH) just isn’t thought of a safety—although whether or not firms maintain it of their treasuries? That’s as much as them.
“Ethereum is a really key element for lots of different digital currencies,” Atkins famous, including that the growing market adoption of ETH is a constructive signal for future growth. Easy, however kinda enormous.
Ethereum Finds a Residence in Company Treasuries
And proper on cue, companies are going full-send on ETH. Crypto miner Bit Digital not too long ago accomplished a dramatic pivot, dumping 280 Bitcoin and elevating $172 million to load up on Ethereum. From 24,434 ETH on March 31, they now sit at roughly 100,603 ETH on the books. That’s not a flex, that’s an Ethereum thesis.
Much more eye-popping—SharpLink Gaming now holds 280,706 ETH. That’s a whopping $867 million in ETH, making it the largest identified company stash—sure, greater than even the Ethereum Basis’s holdings. Almost all of it—99.7%—is staked, and it’s already earned them 415 ETH since early June.
Chairman Joseph Lubin known as the technique “collective capitalism.” Whether or not that’s Web3-speak or monetary poetry, it’s clear the wager is lengthy ETH.
Stablecoins and Retirement Entry Get a Regulatory Nudge
Atkins didn’t cease there. He pointed to the not too long ago handed federal stablecoin legislation as a “stamp of approval” that would unlock real-time securities settlement with dollar-backed tokens—slashing dangers and prices throughout capital markets.
He additionally touched on the rising demand for crypto inside retirement accounts. Buyers need entry to personal funds and digital asset methods by 401(ok)s. Atkins pushed for the SEC and Division of Labor to hash out correct guardrails—valuations, charges, liquidity—so fiduciaries can confidently supply these choices to long-term savers.
Ethereum by the Numbers
As of 6:56 p.m. UTC on July 21, ETH is buying and selling up 0.75% on the day with a market cap of $454.58 billion and a 24-hour quantity simply shy of $46 billion.
So yeah—Ethereum’s not simply again in headlines… it’s sitting fairly on company stability sheets, wrapped in regulatory inexperienced lights, and staking its declare in each TradFi and crypto’s future.