ETH Strategy announced that it raised 12,342 ETH, equivalent to approximately $46.5 million, in pre-launch funding.

PANews reported on July 29th that Ethereum treasury protocol ETH Strategy announced it had raised 12,342 ETH (approximately $46.5 million) in its pre-launch funding round. The protocol aims to provide leveraged exposure to Ethereum. The STRAT token is expected to go live at 9:00 PM Beijing time on July 29th, and will launch a one-sided liquidity pool on Uniswap v4. Funding was raised through three channels: a private sale of 6,900 ETH, a public sale of 1,242 ETH, and an additional 4,200 ETH obtained through redeemable warrants. All investors' tokens will be locked for four months and will vest linearly over two months following the token generation event. ETH Strategy plans to use 11,817 ETH for core operations, including ETH staking and protocol liquidity provision, and the remaining 525 ETH for development, team salaries, and community activities. The protocol will fund its funding through convertible bonds and market issuance mechanisms similar to those used by SharpLink and BitMine.