BTC Digital Ltd. (NASDAQ: BTCT), a blockchain technology company, has announced a strategic shift to fully embrace Ethereum (ETH) as its core asset and operational foundation. This move follows a $6 million financing round and the establishment of a $1 million ETH reserve, marking the first phase of the company's broader initiative to deepen its exposure to Ethereum's on-chain financial infrastructure.
CEO Siguang Peng stated, "By reallocating our digital-reserve strategy toward ETH, we are positioning BTCT at the forefront of next-generation on-chain finance." The company plans to convert all existing and future Bitcoin (BTC) holdings into ETH, aiming to build a long-term, productive on-chain asset pool centered around the Ethereum ecosystem. Additionally, BTCT intends to launch an Ethereum staking program to generate yields and actively participate in decentralized finance (DeFi) and real-world asset (RWA) projects built on Ethereum.
This strategic pivot aligns with a growing trend among blockchain companies to diversify their portfolios by increasing holdings in Ethereum, recognizing its role in decentralized finance and smart contract applications. The move also reflects a broader industry shift towards Ethereum's expanding ecosystem and its potential for long-term growth in the digital asset space.