Quantum Solutions, backed by ARK Invest, has become Japan’s largest Ether (ETH) digital asset treasury (DAT) after purchasing $9 million worth of ETH within a week.
The company’s founder, Francis Zhou, announced on Thursday that the firm had acquired 2,365 ETH in seven days. “I’m proud to announce that we have accumulated 2,365 ETH in just seven days, officially making Quantum Solutions the largest ETH DAT outside the US,” Zhou said, adding that more Ether purchases were on the way.
According to CoinGecko, the Tokyo-listed company now ranks as Japan’s leading publicly listed ETH DAT and the 11th largest globally. Quantum Solutions also holds 11.6 Bitcoin (BTC) worth around $1.3 million.
Zhou stated last week that the company has been purchasing ETH at a rate of 150 million yen ($983,000) daily, and intends to continue growing its reserves.
As of this week, the company’s total holdings reached 3,866 ETH, valued at about $14.8 million, according to its official website.
Quantum Solution acquires $9 million worth og Ether in a week. Source: Francis Zhou
In late September, Quantum Solutions raised $180 million to build a 100,000 ETH treasury, backed by ARK Invest and Susquehanna International Group (SIG). ARK Invest founder and CEO Cathie Wood said, “Three months into the DAT revolution, we’re happy to support Japan’s first institutional-grade ETH DAT.”
Japan has maintained a more open stance toward listed digital asset treasuries, unlike Hong Kong, India, and Australia, where regulators have imposed tighter rules.
However, market momentum for DATs appears to be slowing. Shares of major crypto treasury firms have fallen in recent weeks. Tom Lee, chair of BitMine, on October 16, questioned if the DAT bubble had burst, while 10x Research analysts said “the age of financial magic is ending for Bitcoin treasury companies.” Still, Lee continues to buy during market dips.
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