Ethereum is seeing growing interest among corporate treasuries, with Nasdaq-listed GameSquare becoming the latest firm to embrace ETH as a reserve asset.
In a press release dated July 8, the entertainment and tech company announced the launch of its Ethereum treasury strategy. The move began with an $8 million underwritten public offering, with the majority of proceeds set to be allocated toward Ethereum-based yield opportunities.
Looking ahead, GameSquare’s board has greenlit up to $100 million in long-term ETH allocations. The company plans to scale its exposure gradually while maintaining enough liquidity to support ongoing operations.
To generate returns on its ETH holdings, GameSquare is teaming up with Swiss crypto investment firm Dialectic. The partnership will leverage Medici, an Ethereum-native automated yield platform developed by Dialectic.
CEO Justin Kenna said the strategy aligns with GameSquare’s focus on gaming, media, and tech, and reflects the broader trend of institutional adoption of digital assets. He emphasized that the shift will provide greater financial flexibility and supports a capital plan centered on continued ETH accumulation.
GameSquare joins a growing list of public companies turning to Ethereum for long-term reserves. Bit Digital, another Nasdaq-listed firm, recently sold off all its Bitcoin holdings to fully pivot into ETH. Meanwhile, SharpLink Gaming has aggressively built its own ETH treasury, now ranking as the world’s second-largest Ethereum holder after the Ethereum Foundation.
Investors appear to support the trend. Following the announcement, GameSquare shares surged by nearly 60%. Meanwhile, Ethereum is showing modest price strength—trading at around $2,625 at the time of writing, up 2.8% in the past 24 hours and nearly 7% over the past week—marking a rebound after a period of underperformance.
