TLDR
- SEC Chairman Paul Atkins confirmed that Ethereum is not considered a security.
- Atkins stated that companies are free to decide whether to hold ETH in their treasuries.
- Bit Digital transitioned from holding Bitcoin to an Ethereum-only treasury strategy.
- SharpLink Gaming reported the largest known corporate Ethereum holding, surpassing the Ethereum Foundation.
- Nearly all of SharpLink’s Ethereum is staked and continues to generate yield.
The U.S. Securities and Exchange Commission (SEC) has informally confirmed Ethereum is not a security, according to Chairman Paul Atkins. Speaking on CNBC, Atkins addressed growing institutional interest in Ethereum as corporate treasuries increasingly add the asset to their holdings. His comments come amid broader regulatory discussions about digital assets and their potential role in capital markets.
Atkins emphasized that companies must decide for themselves whether to include Ethereum in their reserves. He acknowledged Ethereum’s growing role in powering other digital assets and applications. The Chairman stated that Ethereum’s structure supports future technological and financial development.
This development follows major corporate shifts toward ETH as a treasury asset. Atkins noted the importance of market-driven decisions in the adoption of Ethereum. He maintained the SEC’s position has been communicated more informally than through formal regulatory action.
Corporate Treasuries Pivot to Ethereum
Public companies are actively transitioning their treasury strategies to favor Ethereum over Bitcoin. Bit Digital completed a full transition from a Bitcoin-only treasury to holding only Ethereum by July 7. The firm sold 280 BTC and acquired ETH after raising $172 million through a share sale.
Bit Digital’s balance sheet grew significantly during the shift, rising from 24,434 ETH in March to over 100,000 ETH. This move reflects a deliberate long-term investment strategy aligned with market trends. The company cited Ethereum’s broader utility as a major factor behind the shift.
SharpLink Gaming disclosed on July 15 that it holds over 280,000 ETH, valued at around $867 million. This represents the largest known corporate ETH holding, surpassing even the Ethereum Foundation. The company accumulated 74,656 ETH between July 7 and July 13 at an average price of $2,852.
Nearly all of SharpLink’s Ethereum is staked, earning over 400 ETH since June. The firm positions its reserve model as “collective capitalism” operating on a decentralized network. This approach reflects confidence in Ethereum’s long-term value and utility in financial ecosystems.
Stablecoins and Retirement Access
Atkins highlighted that recent federal attention toward stablecoins signals support for blockchain-based transaction systems. He believes that regulated, dollar-backed tokens could enhance settlement efficiency in securities trading. These changes could reduce counterparty risks and lower costs across U.S. capital markets.
He also addressed digital assets in retirement accounts, including potential exposure through 401(k) plans. Investors continue seeking private fund strategies involving digital assets as part of long-term portfolios. Atkins called for collaboration between the SEC and the Department of Labor.
This cooperation would help define standards around valuation, liquidity, and fees for registered digital asset products. Such measures would support fiduciaries in offering these products to retirement savers.
