An Ethereum-based treasury accumulation protocol, ETH Strategy, has raised $46.5 million in presale funding. The round closed Sunday after the project raised 12,342 worth of ETH through three different channels.
The private presale brought in 6,900 ETH, while the public sale collected 1,242 ETH. Additionally, ETH Strategy raised 4,200 ETH using puttable warrants designed for more flexible investor participation.
ETH Strategy shared the announcement on X, noting,”this concludes our prelaunch raise and marks the beginning of our phased rollout for the protocol.”
Funds Allocation and Launch Plans
The protocol revealed that 11,817 ETH will be used for protocol operations, including ETH staking and liquidity provisions, following the plan. The other 525 ETH shall be used to fund development, security audits, team compensation, and community-driven initiatives.
Moreover, the STRAT token is scheduled to launch at 9:00 a.m. ET on Tuesday. The team said liquidity would be added to Uniswap v4 using a single-sided pool with an ATM mechanism designed to stabilize earnings per share (EPS).
The project aims to provide leveraged exposure to Ethereum without the usual risks tied to margin liquidations or volatility decay. ETH Strategy plans to achieve this by issuing protocol-convertible debt through a bonding mechanism and combining it with at-the-market offerings.
Market Context and Investor Moves
Meanwhile, blockchain firm BTCS Inc increased its Ethereum holdings with a 14,240 ETH purchase, pushing its total to 70,028 ETH worth $271 million. Besides, blockchain tracker LookOnChain reported that a wallet linked to HashKey Capital deposited 12,000 ETH, worth $47.18 million, into a centralized exchange.
Also Read: Strategic Ethereum (ETH) Reserve Nears $10B Amid Institutional Boom
