Yunfeng Financial Group has recently entered the ether treasury market by acquiring 10,000 ETH worth around $44 million. This strategic move places the company among various publicly listed businesses adopting ether treasury strategies, including sports betting company SharpLink Gaming and crypto mining firm Bitmine Immersion Technologies.

Key Points:

• The acquisition is part of Yunfeng’s broader strategy to delve into Web3 and real-world assets, which was first announced in July.
• The company aims to lessen its dependence on conventional currencies through this ether investment.

Yunfeng Financial, based in Hong Kong, provides diverse financial services and is primarily owned by Yunfeng Capital, a private equity firm co-founded by Jack Ma in 2010, who is also known for his role in establishing Alibaba and Ant Group.

This broader venture illustrates an increasing interest among companies in securing digital assets as part of their future growth strategies. Yunfeng’s shares experienced a notable increase, closing up 9.55% at 3.67 HKD following the announcement.