Quantum Solutions now holds 3,865.8 ETH worth about $15.1 million as of 23 Oct 2025. The Japanese AI firm continues to add Ether to its balance sheet, reshaping expectations for freely tradable supply and derivatives liquidity. Backed by investors including ARK Invest, the company is positioning its cash strategy around ETH accumulation.
The firm bought 2,000.13 ETH on 21 Oct 2025 via its Hong Kong unit, GPT Pals Studio, paying roughly $7.85 million. Following that trade, the average entry price across all 3,865.8 ETH sits near $4,101, according to company data alongside CoinGecko.
Industry tallies indicate that the stash ranks Quantum as the 11th biggest corporate ETH holder worldwide and the largest outside the United States apart from Shanghai-based Intchains, which holds more than twice as much.
Part of the purchasing is funded by a $180 million raise led by ARK Invest or Susquehanna International Group and by convertible bonds issued on 14 Oct. Management has also pledged to keep buying about 150 million yen (roughly $983,000) of ETH each day.
Latest purchases, funding and positioning
Quantum’s shares have climbed 17% since the start of the year, and ARK Invest CEO Cathie Wood called the program “Japan’s first institutional grade ETH DAT three months into the DAT revolution,” referring to a “digital asset treasury.”
In terms of supply and liquidity, steady bids remove coins from order books but also can tighten spreads and push funding rates on perpetual swaps. While the balance-sheet risk because of the debt and convertibles fund the plan — a sharp ETH drop would hit equity.
Quantum still targets 100,000 ETH and sticks to its daily purchase schedule. Lenders and rival treasuries will track each step and watch how the plan shapes supply, price and corporate funding costs in the next quarters.
