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![cryptomanran Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::58487473.png) Ran Neuner [@cryptomanran](/creator/twitter/cryptomanran) on x 951.6K followers
Created: 2025-07-09 05:08:40 UTC

Even with many $ETH treasury companies popping up the price of ETH isn’t moving.

The reason is that most of them aren’t actually buying ETH. They are trading existing ETH for shares at NAV.

Retail market is buying these shares at a premium…

![](https://pbs.twimg.com/media/GvZCPc2W8AAqE15.jpg)

XXXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1942813128116560095/c:line.svg)

**Related Topics**
[stocks](/topic/stocks)
[$eth](/topic/$eth)
[ethereum](/topic/ethereum)
[coins layer 1](/topic/coins-layer-1)

[Post Link](https://x.com/cryptomanran/status/1942813128116560095)