ETH/USD: Ether Prices Top $4,300 as More Companies Jam the Token in Their Treasuries

Well, well, well… if it isn’t companies rushing to load up on Ether after they saw how nicely this move panned out for Bitcoin treasury firms.

🏆 Ether Outgains Bitcoin

• Ethereum ETHUSD spiked to $4,330 Sunday before easing back toward $4,200, marking its highest level since November 2021 and leaving Bitcoin’s 2025 gains looking modest by comparison.
• Since April 9 — aka Tariff Day, aka Liberation Day, aka Liquidation Day, when Trump announced sweeping duties — Ether has tripled in price, while Bitcoin is up less than 60%.
• What’s driving the rally and is there any corporate interest involved? You bet — a growing number of companies are turning to Ethereum as a treasury asset that can earn yield and be a passive investment.

🤩 Corporate Treasuries Go ETH

• Public corporations are rushing to add Ether to their balance sheets, echoing the earlier wave of Bitcoin treasury moves from firms like MicroStrategy MSTR, and more recently, GameStop GME.
• The latest catalyst? Fundamental Global (ticker: FGF), a Nasdaq-listed reinsurer specialist, filed an S-3 registration with the SEC Thursday, signaling it could sell up to $5 billion in securities to fuel its ETH-buying ambitions.
• The firm’s stock crashed 48% after the announcement. But it's a small-cap player with a post-crash market value of just $24 million. Management remains optimistic, saying the plan is long-term accumulation, not short-term speculation.

✅ The Plan: Stake, Restake, Repeat

• In its filing, Fundamental Global said its goal is to acquire and grow Ether per share through both capital raising and active treasury strategies, including staking, restaking, liquid staking, and other DeFi activities. (2018 called, it wants its ideas back.)
• On Tuesday, the company closed a $200 million private placement to kick-start the program, aiming for a 10% stake in the Ethereum network. CEO Kyle Cerminara said the fresh capital allows them to “execute our ETH treasury strategy at scale,” positioning ETH as a core corporate asset.
• Fundamental Global joins other ETH-holding firms like Peter Thiel-backed BitMine and Nasdaq-listed GameSquare. The recent leg up propelled Ether’s valuation to $505 billion.