Yunfeng Financial Acquires 10,000 ETH for $44 Million as a Reserve Asset
According to filings published on Sept. 2, Yunfeng said the ETH buy supports a Web3 and real-world assets pivot while reducing fiat reliance, signaling Asia’s growing adoption of crypto in corporate treasuries.
The statement is strongly confirmed by multiple, independent sources. Numerous financial and crypto news outlets (Coinpedia, Marketscreener, PANews, Bitget) explicitly state that Yunfeng Financial purchased 10,000 ETH for a total cost of $44 million. The purpose of the purchase as a 'strategic reserve asset' is also widely reported and corroborated by what appears to be a direct link to the company's investor relations announcement on irasia.com.
Yunfeng Financial Group disclosed via filings on Sept. 2 that it purchased 10,000 ETH (about $44 million) to begin building an ETH treasury, according to the company’s official announcement. The Hong Kong-listed firm said the move aims to reduce reliance on traditional currencies and support expansion into Web3, real-world assets, digital currencies, and AI, aligning with a July pivot to next-generation financial infrastructure. Shares rose 9.55% on the news, closing at HK$3.67 (US$0.47). Ethereum traded at $4,264 at press time, down 2.12% over 24 hours. The step adds to a broader trend, with SharpLink Gaming and Bitmine also adopting crypto treasury strategies.
- Ethereum (ETH): A decentralized blockchain platform enabling smart contracts and dApps; ETH is its native cryptocurrency.
- ETH treasury: A corporate strategy where a company holds ETH on its balance sheet as part of its reserve or liquidity management.
- Reserve Asset: An asset held to diversify holdings, hedge risks, or support future obligations within a company’s reserves.