Corporate Ethereum (ETH) holdings saw a massive jump of 384% in just three months, growing from 916,268 ETH to 4.4 million ETH between June and September 2025. That’s roughly $13.2 billion worth of ETH added to corporate treasuries.

One of the major players behind this surge is Yunfeng Financial Group Limited, a Hong Kong-based investment firm linked to Alibaba founder Jack Ma. On September 2, the company announced it had purchased 10,000 ETH, valued at about $44 million. This move was part of Yunfeng’s broader plan to grow in the Web3 and digital assets space.

Yunfeng used its own internal funds for the ETH purchase, pulling from its large cash reserves of $12.3 billion reported in its 2024 financial results. The investment is not just about holding crypto—it’s a strategic bet on Ethereum’s future role in finance and technology.

The company joins a rising number of traditional financial institutions that are now holding Ethereum as part of their corporate treasury. The trend gained major momentum in the summer of 2025, as businesses began viewing Ethereum not just as an investment but as critical infrastructure for decentralized finance (DeFi) and smart contracts.

Ethereum’s role in Web3 development, real-world asset (RWA) tokenization, and blockchain-based finance has made it attractive to corporate treasurers. Instead of treating ETH like a risky investment, companies are starting to see it as a building block for digital innovation and long-term financial strategies.

Yunfeng’s ETH purchase aligns with its broader Web3 strategy announced in July 2025. The company is expanding into areas like blockchain, digital currencies, ESG Net-Zero initiatives, real-world asset tokenization, and artificial intelligence. Ethereum plays a key role in this vision due to its powerful smart contract capabilities and ability to support decentralized applications.

The company also plans to explore how Ethereum can be used in its insurance services and other parts of its business, making it more than just a reserve asset. By holding ETH, Yunfeng aims to integrate blockchain into its operations and deliver better services to clients while staying ahead in the evolving financial technology space.

This crypto move was made within Hong Kong’s regulatory framework, which allows licensed financial institutions to invest in digital assets. Yunfeng followed all the rules set by the Hong Kong Exchange while leaving room for future investments in cryptocurrencies.

In its shareholder communication, Yunfeng acknowledged the risks tied to crypto market volatility but emphasized its long-term commitment to digital assets. The company is aware of how factors like global economic shifts and regulations can affect ETH prices but sees Ethereum as a vital part of its future.

Yunfeng joins other Asian firms adopting Ethereum for their treasuries. For example, Intchains Group, a chip design company based in China, holds 8,816 ETH (around $38.2 million). Meanwhile, Metaplanet recently added 1,009 Bitcoin to its reserves and plans to acquire up to 210,000 BTC by 2027.

These moves signal growing interest from Asian corporations in using crypto assets like Ethereum and Bitcoin as part of their long-term strategies. As more companies adopt these technologies, it could spark even wider adoption across the region.

Overall, Yunfeng’s investment highlights Ethereum’s growing importance beyond Bitcoin’s traditional use as digital gold. With its ability to power smart contracts and decentralized apps, Ethereum is quickly becoming essential infrastructure for the future of finance and technology in Asia and beyond.