Quantum Solutions Becomes Japan’s Largest Ether Treasury with $14.8M in Holdings

Tokyo-based Quantum Solutions, backed by ARK Invest, has become the largest Ether digital asset treasury (DAT) outside the United States after rapidly accumulating $9 million worth of ETH in just one week. The company’s founder, Francis Zhou, announced the milestone on Thursday, underscoring Quantum’s growing ambition in the digital asset space.

“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, adding that the company plans to continue expanding its Ether holdings in the coming weeks.

According to CoinGecko data cited by the firm, Quantum Solutions is now Japan’s leading publicly listed Ether DAT and ranks 11th globally. In addition to its Ether reserves, the company also maintains a small Bitcoin treasury of 11.6 BTC, currently valued at approximately $1.3 million.

Building a 100,000 ETH Treasury

Quantum Solutions’ website shows that the firm now holds a total of 3,866 ETH, worth around $14.8 million at current prices. The company’s aggressive buying spree is part of a broader plan to build a 100,000 ETH corporate treasury, funded by a $180 million raise completed in late September.

That round attracted several prominent investors, including ARK Invest and Susquehanna International Group (SIG), both of which have been active supporters of institutional crypto strategies. 

Zhou previously stated that the company was purchasing ETH at a pace of 150 million yen (approximately $983,000) per day and planned to accelerate its accumulation strategy as market conditions evolve.

Japan’s relatively open regulatory stance toward publicly listed digital asset treasuries has allowed Quantum Solutions to advance its plans without the restrictions seen in other regions. 

In contrast, exchanges in other Asian countries have recently moved to tighten regulations on DATs, citing market stability concerns.

DAT Hype Faces Market Headwinds

The rise of digital asset treasuries has been one of 2025’s most notable financial trends, but enthusiasm has cooled in recent weeks. Share prices of several major DATs have slid following the broader crypto market correction earlier this month.

Prominent investor Tom Lee recently questioned whether the “DAT bubble” may have burst, while analysts at 10x Research suggested that “the age of financial magic is ending for Bitcoin treasury companies.”

Despite the skepticism, industry leaders remain optimistic. ARK Invest CEO Cathie Wood, commenting on Quantum’s milestone, said, “Three months into the DAT revolution, we’re happy to support Japan’s first institutional-grade ETH DAT.”

Meanwhile, Lee himself has reportedly been buying the dip, signaling that for some believers, the long-term potential of crypto treasuries remains as strong as ever.