Nasdaq-listed Cosmos Health enters $300 million facility for Ethereum treasury strategy

The Block

2025-08-07 14:23:23

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Nasdaq-listed healthcare group Cosmos Health announced Wednesday that it has secured up to $300 million in a financing facility to support its launch of an Ethereum treasury strategy.

The company secured funding through a securities purchase agreement with an unnamed U.S. institutional investor, according to the press release. This agreement involves the issuance of senior secured convertible promissory notes.

Cosmos detailed that the ether treasury is expected to complement the company's digital transformation and e-commerce efforts, and support its exploration of blockchain use cases in supply chain traceability, wellness incentive programs, and global consumer engagement.

Under the terms of the agreement, Cosmos Health must use at least 72.5% of the net proceeds from each funding round to build its digital asset treasury reserve. The rest will go toward working capital and growth initiatives, according to the release.

The accumulated ETH will be custodied and staked through BitGo's institutional infrastructure, while Cosmos itself will explore additional strategies to generate yield and maximize the utility of its ETH holdings, with the goal of optimizing cash flow.

A flurry of companies have recently announced ETH treasury strategies, after a wave of bitcoin treasury announcements swept the earlier half of 2025.

Standard Chartered’s global head of digital assets research Geoffrey Kendrick said Ethereum treasury companies are "very investable," and currently a better asset to purchase than U.S. spot ether ETFs. Kendrick previously said ether treasury firms offer stronger upside than bitcoin treasury companies, as they have access to DeFi leverage and staking rewards.

According to The Block's data, SharpLink Gaming is currently the largest corporate holder of Ethereum, with 360,810 ETH, followed by Bitmine's holdings of 300,660 ETH.

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