Publicly ETH treasury firms like BitMine Immersion Technologies (BMNR) give indirect ETH exposure but add corporate and equity market risks.
Ether (ETH) is trading near record highs and bullish forecasts like Tom Lee’s $15,000 year-end target have put a spotlight on how investors can best gain exposure to ETH.
According to CoinDesk Data, ether, the second-largest cryptocurrency, is trading at about $4,783 at the time of writing, near its all-time highs, reflecting strong investor demand amid growing institutional adoption.
Tom Lee, head of research at Fundstrat, CIO of Fundstrat Capital and chairman of BitMine Immersion Technologies (BMNR), told CoinDesk last month that ETH could reach $15,000 by the end of 2025. His comments highlight renewed optimism around Ethereum’s growing importance for stablecoins, decentralized finance (DeFi) and real-world asset (RWA) tokenization.
Owning ETH outright is the most straightforward way to participate. Holders gain full control of the asset and direct access to Ethereum’s decentralized finance (DeFi), NFT and staking ecosystems. ETH trades 24/7 across global markets, but investors must manage custody and security — whether through self custody wallets or third party custodians — and contend with evolving regulations. Costs are generally limited to exchange fees and gas.
Spot ether ETFs have made it possible for traditional investors to gain regulated ETH exposure through brokerage accounts. Some issuers are now seeking permission from the U.S. Securities and Exchange Commission (SEC) to add staking to their products.
If approved, staking would allow funds to earn additional yield by securing Ethereum’s proof-of-stake network and pass that income to shareholders. That would represent a first for U.S. crypto ETFs.
Prominent ETF analyst Nate Geraci said on July 30 that staking-enabled ether ETFs are likely to be “the SEC’s next hit list” before it takes up applications for other spot crypto products.
His point reflects a broader expectation that regulators will scrutinize staking first, since it blends DeFi-native mechanics with traditional fund structures. For investors, that means staking-enabled ETFs could reshape exposure by adding income streams beyond price appreciation — but only if regulators are satisfied that custody, transparency and market manipulation concerns are addressed.
For now, the SEC has acknowledged amendments to allow staking but has not yet granted approval, leaving timing uncertain.
Another path is investing in shares of publicly-traded companies that hold ether in their treasuries. BitMine Immersion Technologies, for example, disclosed on Aug. 18 holdings over 1.5 million ETH currently worth around $7.3 billion.
This approach ties shareholder value to ETH price movements and, potentially, corporate staking income. But equity exposure adds new risks:
With ETH near record highs and bold forecasts fueling investor interest, the question for 2025 is less about whether to own ether and more about which vehicle best fits each investor’s risk appetite.
