Hong Kong-listed Yunfeng Financial has added 10,000 ETH to its reserves, aligning with a growing group of public firms treating Ethereum as a treasury asset rather than just a market trade. Summary Yunfeng Financial added 10,000 ETH ($44m) to its reserves, marking a shift toward Ethereum as a treasury asset. The purchase follows the company’s July strategy to expand into Web3, real-world assets, and tokenized finance. According to an announcement on September 2, the board of Yunfeng Financial Group Limited approved the allocation of $44 million from its internal cash reserves to acquire Ethereum (ETH) on the open market. The purchase, already executed, is a direct follow-through on the firm’s July pledge to expand into frontier technologies like Web3 and real-world asset tokenization. Notably, the company said the ETH will be accounted for as investments on its balance sheet, cementing its status as a formal strategic reserve asset intended to reduce the Group’s “reliance on traditional currencies.” Why Yunfeng is betting on Ethereum Yunfeng stated that holding ETH is fundamental to facilitating technological innovation in the Web3 field and achieving an “organic integration of finance with technology” for its clients. This language positions Ethereum not as a passive investment, but as an essential part of building next-generation financial products. Perhaps the most forward-looking aspect of Yunfeng’s strategy lies in its plans for its core insurance business. The announcement confirms the company will “explore the potential applicable models of ETH in the Group’s insurance business.” This suggests a move beyond simple treasury diversification into actual utility on the Ethereum network. With this move, Yunfeng enters a specific and rapidly growing class of public companies that are treating Ethereum as a primary treasury asset. This group is distinct from the earlier wave of Bitcoin-only corporate adopters, signaling a specific belief in Ethereum’s utility and value proposition. Yunfeng’s 10,000 ETH stake, while significant, places it in the junior league compared to the market’s true behemoths. According to industry data, the firm joins ranks with companies like The Ether Machine, which is amassing a treasury now exceeding 345,000 ETH ahead of a planned public listing. The current titans of corporate ETH accumulation are BitMine Immersion Technologies, led by Fundstrat’s Tom Lee, which holds a colossal 1.87 million ETH, and SharpLink Gaming. SharpLink has been on an aggressive acquisition spree, most recently adding 39,008 ETH to bring its total holdings to 837,230 tokens, a stash valued at approximately $3.6 billion.
