GameSquare Holdings, a NASDAQ-listed media and tech company, has secured $70 million through a public stock offering. The funds will primarily be used to expand its Ethereum (ETH) treasury.
From our CEO @justin_kenna: “This raise marks a pivotal milestone for GameSquare. It enables us to move with speed and scale to continue to build what we believe is one of the most ambitious Ethereum treasury strategies in the public markets.” pic.twitter.com/UQ4UI5v6gW
— GameSquare Holdings Inc. (@GSQHoldings) July 17, 2025
GameSquare and Dialectic Team Up after $70M Raise
With this move, the company is joining the latest trend of integrating the digital asset market with a traditional financial infrastructure. This move comes after GameSquare’s partnership with Dialectic, a leading crypto asset management firm known for maximizing returns on digital assets.
By increasing its ETH reserves, the company is showing confidence in Ethereum’s long-term value. The company’s interest in the crypto sector is part of the new trend to jump on the bandwagon of blockchain technology.
Investors will watch how this strategic allocation impacts both GameSquare’s growth and Ethereum’s market dynamics.
Justin Kenna, CEO of GameSquare, stated in a press release, “This raise marks a pivotal milestone for GameSquare. It enables us to move with speed and scale to continue to build what we believe is one of the most ambitious Ethereum treasury strategies in the public markets. Our goal is to transform a traditional treasury function into a high-performance business vertical generating durable, recurring cash flows.”
He added further, “The deal includes a 15% overallotment, which if fully exercised, will bring the total raise to approximately $80.5 million. Combined with the $9.2 million raised last week, total gross proceeds across both offerings are over $90.0 million. We are targeting significant ETH acquisitions deployed across strategies engineered by Dialectic, which have historically generated 8–14% on-chain yields. We believe this approach, combined with staking income and potential ETH appreciation, has the potential to deliver millions in annual incremental revenue. That cash flow can fund further ETH purchases and support broader growth initiatives across our platform.”
GameSquare also gave its underwriter a 45-day option to buy 7 million extra shares at the same price. The $70 million offering should close by July 18, 2025. It follows an SEC-approved filing from March 2025. As industry trends continue to evolve, insights shared during events like the Cyprus Gaming Show 2025 can provide valuable context to understand the broader impact of such investments.
Ethereum Breaks $3,400 after Impressive ETH ETF Inflow
On July 17, Ethereum surged past $3,400 after the US Spot ETH ETF witnessed a record $726.74 million in net inflows on the previous day. This pushed total ETH-held reserves to an all-time high of 4.95 million ETH.
According to CoinGlass, BlackRock’s ETHA led the charge with $499 million in a single day, which shows a strong institutional demand.
The price rally was sparked by a breakout above key resistance at $3,300, which led to a 3.62% hike in 24 hours. However, a looming short squeeze threatens to liquidate $62 million in whale positions if ETH breaks $3,505.
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