Treasure Global (NASDAQ: TGL), a Malaysian-based technology company, announced today, May 7, that it has established an Ethereum-based digital asset treasury. Additionally, the company has also appointed BitGo as its custody provider. The company plans to start with an initial deposit of approximately $176,000. $ETH.
According to it, press releasethe company plans to use the financial framework over time to support capital deployments of up to $100 million. However, this figure is conditional, as the release states that the rollout is “subject to market conditions and strategic opportunities.”
Who is Treasure Global and why did they start buying Ethereum?
Treasure Global operates ZCITY Super App, a popular Malaysian platform used by over 2.7 million people for digital payments and reward earning (as of December 2025). According to a press release, the company is not changing the way it does business and is only purchasing digital assets as a “complementary balance sheet strategy.”
Treasure Global selected Ethereum for its first financial asset based on the network’s role in decentralized finance, stablecoin payments, and tokenized asset infrastructure. In a press release, the company described Ethereum as “the foundational infrastructure layer of the emerging on-chain economy.”
With this move, TGL joins a growing list of public companies investing excess capital in Ethereum. According to data from strategic $ETH make a reservation67 organizations currently hold $7.33 million. $ETH This totals approximately $16.03 billion, or approximately 6% of total circulating supply.
how much $ETH Can TGL be bought for $100 million?
and $ETH The current price is about $2,185, which means that if the $100 million Treasury gets the full amount, Treasure Global will get about $45,700. $ETH. This amount would put TGL on the same level as projects like FG Nexus (50,770 $ETHcurrently worth about $111 million) and Lido DAO ($39,720 $ETHapproximately $86.9 million), according to Strategic. $ETH Reserve ranking.
However, TGL is still far from being a category leader. Bitmine Immersion Technology Currently holding 5.18 million items $ETH After adding 101,745 tokens in one week, as previously reported by Cryptopolitan. SharpLink Gaming also holds approximately 863,020 $ETH.
Even The Ether Machine in third place has 496,710. $ETH. At $100 million, Treasure Global would manage less than 1% of Bitmine’s holdings.
staking $ETH TGL can earn small but stable profits. For example, Bitmine owns 84% of it. $ETH Through the MAVAN validator network, we earn 2.91% annually (approximately $297 million in annual staking revenue). According to Cryptopolitan.
If you did the same thing with a TGL of 45,700 $ETH (with a cap of $100 million), they can earn about $2.7 million in extra income each year. That number will increase as TGL buys more assets, but it’s still only a fraction of what large holders earn.
BitGo is cleaning up as a custodian
Treasure Global selects BitGo (NYSE:BTGO) as its custodian, giving it access to institutional-grade cold storage with multi-signature security architecture. According to the company’s research, BitGo supports 186 of the top 250 digital assets by market capitalization. April 2026 announcementserving thousands of institutional customers across custody, staking, trading, and payments.
When asked about the BitGo partnership, Teo said, “This will strengthen the security, governance and operational resiliency of digital asset holdings.”
BitGo has also expanded its institutional investor footprint in recent months. In May 2026, the company appointed As an additional custodian of Virtune, a Swedish regulated digital asset management company, we provide custody of the Stablecoin Index ETP under a MiCA license from BaFin.
Nevertheless, the gap between the initial purchase of $176,000 and the $100 million goal is large. However, whether TGL will expand its finances to a level where it can compete in the corporate sector. $ETH The leaderboard is determined by the amount of capital and appropriate market conditions.
