Ethereum Treasury Firm BTCS Aims to Raise Up to $2B in Ether Buying Power

2 days ago

BTCS (BTCS), a Nasdaq-listed blockchain infrastructure and staking institution focused connected Ethereum, filed a support registration with the U.S. Securities and Exchange Commission (SEC) that would let it to rise arsenic overmuch arsenic $2 cardinal to bargain much ether (ETH).

The Tuesday filing gives the institution flexibility to contented securities successful abstracted tranches, either straight to investors oregon done underwriters and brokers. The filing does not perpetrate BTCS to instantly contented securities but sets a model for imaginable superior raises. Specific terms, including pricing and the quality of each security, volition beryllium elaborate successful aboriginal prospectus supplements.

Such funds could beryllium utilized to get much tokens for the firm's ETH stockpile, grow staking operations oregon bolster moving capital.

BTCS has been a pioneer of the crypto treasury strategy focusing connected the autochthonal token of the Ethereum blockchain since 2021, good earlier caller newcomers similar SharpLink, Bitmine oregon ETHZilla. The firm, which was precocious added to the Russell Microcap Index, held implicit 70,000 ETH arsenic of July 28, worthy astir $265 million.

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