Treasure Global opens Ethereum treasury with $176K deposit

Treasure Global Inc. (NASDAQ: TGL) established an Ethereum-based digital asset treasury on May 7, depositing roughly $176,000 in ETH into custody with BitGo. The company said it may deploy up to $100 million into the treasury framework over time, conditional on market conditions and strategic opportunities.

The Malaysia-based technology firm operates the ZCITY Super App, which had about 2.7 million users as of December 2025. The company described the ETH purchase as a complementary balance-sheet strategy that will not change its core business operations. Treasure Global chose Ethereum because of the network’s roles in decentralized finance, stablecoin settlement and tokenized asset infrastructure, calling it “a foundational infrastructure layer for on-chain economic activity.” The description appeared in the company’s press release.

BitGo will serve as custodian for the treasury, providing institutional cold storage and a multi-signature security architecture. BitGo offers custody, staking, trading and settlement services for a broad range of digital assets and serves institutional clients. Teo commented, “It enhances the security, governance, and operational resilience of our digital asset holdings.”

At an ETH price near $2,185, the initial $176,000 deposit is roughly 81 ETH. A full $100 million allocation would equal about 45,700 ETH. Data from the Strategic ETH Reserve show 67 entities together hold about 7.33 million ETH, or roughly 6% of circulating supply.

A $100 million ETH treasury would put Treasure Global near some mid-tier holders by token volume but well below the largest custodians and projects that control hundreds of thousands to millions of tokens. Large holders continue to hold far larger balances than a $100 million allocation would represent.

Staking is one way holders earn recurring income from ETH. A major holder reporting a high staking percentage has recorded annual returns near 2.9 percent; at that rate, staking 45,700 ETH would generate about $2.7 million a year in additional revenue. Treasure Global said any further purchases will depend on available capital, market conditions and identified strategic opportunities.