ARK Invest-backed Quantum Solutions has turn out to be the biggest Ether digital asset treasury outside the US after accumulating $9 million value of ETH in every week.
Quantum Solutions founder Francis Zhou announced the corporate's latest Ether (ETH) purchase on Thursday.
“I’m proud to announce that we’ve got gathered 2,365 ETH in only seven days, officially making Quantum Solutions the biggest ETH DAT outside the US,” Zhou said, adding that more Ether purchases are on the way in which.
The company said it’s Japan's leading listed Ether DAT and the eleventh largest globally, citing figures from CoinGecko.
Quantum Solutions also has a small Bitcoin (BTC) hoard, holding 11.6 BTC value $1.3 million.
Last week, Zhou said the corporate was acquiring 150 million yen ($983,000) value of ETH per day “and can further speed up accumulation.”
According to its website, the corporate currently holds 3,866 ETH, value around $14.8 million.
Quantum Solutions has gathered $9 million value of Ether in every week. Source: Francis Zhou
ARK Invest supports ETH government bonds
The Tokyo-listed company raised $180 million in late September to construct a 100,000 ETH treasury and was backed by enterprise capital firms corresponding to ARK Invest and Susquehanna International Group.
Japan stays open to listed DATs, but other exchanges within the region, including Hong Kong, India and Australia, have begun cracking down on them.
“Three months into the DAT revolution, we’re pleased to support Japan’s first institutional-level ETH DAT,” Cathie Wood, founder and CEO of ARK Invest, said on Thursday.
ARK Invest also invested this yr in BitMine, led by Tom Lee and the world's largest Ether DAT. In September, the corporate's shares were added to its three innovation and fintech funds for the primary time.
THIS swing is cool
However, the hype surrounding digital assets appears to be waning as share prices of a number of the world's biggest crypto hoarders have fallen in recent weeks.
Last week, Tom Lee questioned whether the DAT bubble had burst, while researchers at 10x Research said: “The age of monetary magic is coming to an end for Bitcoin financial firms.”
However, Lee has been betting aggressively on losses following the crypto market's record-breaking crash earlier this month.
