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

BTCS (BTCS), a Nasdaq-listed blockchain infrastructure and staking company focused on Ethereum, filed a shelf registration with the U.S. Securities and Exchange Commission (SEC) that would allow it to raise as much as $2 billion to buy more ether (ETH).

The Tuesday filing gives the company flexibility to issue securities in separate tranches, either directly to investors or through underwriters and brokers. The filing does not commit BTCS to immediately issue securities but sets a framework for potential capital raises. Specific terms, including pricing and the nature of each security, will be detailed in future prospectus supplements.

Such funds could be used to acquire more tokens for the firm’s ETH stockpile, expand staking operations or bolster working capital.

BTCS has been a pioneer of the crypto treasury strategy focusing on the native token of the Ethereum blockchain since 2021, well before recent newcomers like SharpLink, Bitmine or ETHZilla. The firm, which was recently added to the Russell Microcap Index, held over 70,000 ETH as of July 28, worth roughly $265 million.

Read more: Ethereum at 10: What’s Next for the World Computer?

Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]