Ethereum treasury protocol ETH Strategy secures $46 million in prelaunch raise

The Block

2025-07-29 16:13:21

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ETH Strategy, a treasury accumulation protocol designed to provide leveraged exposure to Ethereum, has raised 12,342 ETH ($46.5 million) in its prelaunch funding.

The team announced Sunday that the raise was secured through three separate channels targeting different investor profiles. The private presale generated 6,900 ETH, while the public sale raised 1,242 ETH. An additional 4,200 ETH was collected through puttable warrants.

All categories offered STRAT tokens at varying rates, with investors subject to a four-month lockup followed by a two-month linear release schedule starting from the token generation event.

ETH Strategy plans to deploy 11,817 ETH into core protocol operations, including ETH staking and protocol liquidity provisions. The remaining 525 ETH would be earmarked for protocol development and growth activities, covering operational expenses, security audits, team compensation, and community programs.

The project noted that the STRAT token is set to go live at 9:00 a.m. ET on Tuesday. "Liquidity will be launched on Uniswap v4 as a single-sided pool with an ATM mechanism to drive EPS," the team said.

ETH Strategy is a treasury protocol designed to provide leveraged exposure to ETH "without the traditional risks associated with margin liquidations or volatility decay," the team stated on its website.

Specifically, the treasury funds ETH purchases by issuing protocol-convertible debt through a bonding mechanism inspired by Strategy's original convertible trade, alongside an at-the-market offering similar to those used by SharpLink and BitMine, according to the project.

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