Cathie Wood’s ARK Invest Backs Japan’s Quantum Solutions as It Becomes Largest Ethereum Holder Outside the U.S.

ARK Invest-backed Quantum Solutions has become Japan’s largest Ethereum treasury.

Cathie Wood’s ARK Invest is doubling down on its faith in blockchain balance sheets. The firm has backed Quantum Solutions (JP:2338), a Tokyo-listed company that just became the largest Ethereum treasury outside the United States. This is a sign that Japan is becoming an increasingly important hub for digital asset treasuries.

Quantum Solutions Expands Its Ethereum Reserves

Quantum Solutions’ founder, Francis Zhou, said Thursday that the company accumulated 2,365 ETH in seven days, officially making it Japan’s largest Ethereum digital asset treasury (DAT) and the 11th-largest globally, according to CoinGecko. The firm now holds around 3,866 ETH, worth nearly $15 million, alongside a smaller Bitcoin reserve of 11.6 BTC.

“I’m proud to announce that we have accumulated 2,365 ETH in just seven days, officially making Quantum Solutions the largest ETH DAT outside the US,” Zhou said, noting that the firm plans to “continue to accelerate accumulation.”

Quantum’s buying pace has been aggressive. Zhou previously revealed that the company was acquiring ETH at a rate of roughly 150 million yen ($983,000) per day, an expansion plan that reflects the firm’s ambition to reach a 100,000 ETH treasury target.

ARK Invest Has a Growing Interest in Digital Treasuries

The company raised $180 million in late September to fund its treasury expansion, with support from ARK Invest and Susquehanna International Group. For ARK founder and CEO Cathie Wood, Quantum’s rise represents a validation of her long-held thesis that blockchain-native treasuries could become a new institutional asset class.

“Three months into the DAT revolution, we’re happy to support Japan’s first institutional-grade ETH DAT,” Wood said Thursday.

The move marks ARK’s second major digital treasury investment this year. In September, it added shares of BitMine (BMNR), chaired by Tom Lee, to its innovation and fintech funds. BitMine remains the largest global Ethereum DAT, and ARK’s twin bets suggest confidence in Ethereum’s long-term role as programmable financial infrastructure.

There’s Cooling Trend in the DAT Market

Still, not everyone is convinced the DAT boom will keep its momentum. Share prices for several top crypto treasuries have cooled in recent weeks. Analysts are wondering whether the sector is entering a consolidation phase.

Tom Lee recently wondered aloud if “the DAT bubble had burst,” while analysts at 10x Research wrote that “the age of financial magic is ending for Bitcoin treasury companies.” Yet, Lee has been buying the dip since the market’s steep selloff earlier this month. This is another sign that some veterans still see opportunity beneath the volatility.

At the time of writing, Ethereum is sitting at $3,849.22.