More corporate heavyweights are turning to Ethereum as a treasury reserve asset, and Nasdaq-listed GameSquare is the latest to join in.
According to a July 8 press release, the entertainment and technology company has launched an Ethereum (ETH) treasury strategy. The company kicked off the move with an $8 million underwritten public offering, with most of the capital set to flow directly into Ethereum yield opportunities.
For the long term, GameSquare’s board has approved up to $100 million in ETH allocations, to be deployed gradually while preserving enough liquidity to fund its operations.
The firm has also partnered with Swiss crypto investment firm Dialectic to generate returns on its holdings, using Medici, an automated Ethereum-native yield platform.
Commenting on the move, GameSquare CEO Justin Kenna said the shift aligns with the company’s footprint in gaming, technology, and media, and reflects growing institutional adoption of digital assets. He added that the new treasury strategy will enhance financial flexibility and support a capital plan that is focused on continued ETH accumulation.
GameSquare’s adoption comes as more public companies turn to Ethereum for long-term reserves. Another Nasdaq-listed firm, Bit Digital, recently disclosed it had gone all-in on Ether, selling off its entire Bitcoin (BTC) holdings to expand its ETH position.
Similarly, SharpLink Gaming has been on an aggressive accumulation streak, building out its own Ethereum treasury reserve. The firm is now the world’s second-largest ETH holder, behind only the Ethereum Foundation.
Following its announcement, GameSquare’s stock jumped roughly 60%, reflecting strong investor support for the shift. Meanwhile, the increased adoption is translating into price action for ETH.
The asset trades around $2,625 at the time of writing, up 2.8% in the past 24 hours and nearly 7% on the week. While gains remain modest, current prices mark a decent recovery after several weeks of underperformance.