mNAV0.83×
EV mNAV0.79×
Coins/share growth-0.3% YTD-28.9% 1Y
Inputs and sources
| Item | Value | As of | Source |
|---|---|---|---|
| ETH price | $2,245.89 | 2026-11-07 16:18 KST | Binance |
| Stock price | 18.76 USD | 2026-11-07 06:00 KST | Yahoo Finance |
| Coins held | 6,051,933 | 2026-10-25 | 8-K |
| Shares outstanding | 603,226,394 | 2026-07-09 | 10-Q |
| Cash & USD assets | $514,000,000 | 2026-10-25 | 8-K |
| Debt (face) | $0 | 2026-05-31 | 10-Q |
| Preferred (liquidation pref.) | $0 | 2026-05-31 | xbrl |
XBRL quarterly values
| Item | XBRL | As of | Tag |
|---|---|---|---|
| Cash & USD assets | $340,289,000 | 2026-05-31 | us-gaap:CashAndCashEquivalentsAtCarryingValue |
Calculation
- Coin value
- 6,051,933 × $2,245.89 = $13.59B
- Market cap
- 603,226,394 sh × $18.76 = $11.32B
- mNAV
- $11.32B ÷ $13.59B = 0.83×
- EV mNAV
- ($11.32B + debt $0 + preferred $0 − cash $514.0M) ÷ $13.59B = 0.79×
- Coins / 1,000 shares
- 10.0326 ETH
- 1.0× price
- $22.53
- Implied ETH price
- $1,869.90
- Avg purchase price
- $3,517 2026-05-31 · 10-Q
- vs. cost
- -36.1% −$7.69B
- Debt/NAV
- 0%
Calculator
Stock at current mNAV (0.83×)—
Stock at 1.0×—
mNAV—
Implied ETH price—
mNAV history
Holdings history as reported
| As of | Holdings | Change | Shares | Source |
|---|---|---|---|---|
| 2026-10-25 | 6,051,933 | +50,631 | 8-K | |
| 2026-09-27 | 6,001,302 | +100,190 | filing | |
| 2026-08-30 | 5,901,112 | +113,698 | filing | |
| 2026-07-26 | 5,787,414 | +87,374 | filing | |
| 2026-06-28 | 5,700,040 | +283,095 | filing | |
| 2026-05-31 | 5,416,945 | +338,559 | 579,652,432 | filing |
| 2026-04-26 | 5,078,386 | +346,304 | filing | |
| 2026-03-29 | 4,732,082 | +258,623 | filing | |
| 2026-02-28 | 4,473,459 | +50,800 | 493,905,227 | filing |
| 2026-02-22 | 4,422,659 | +179,321 | filing | |
| 2026-01-25 | 4,243,338 | +132,813 | filing | |
| 2025-12-28 | 4,110,525 | +373,385 | filing | |
| 2025-11-30 | 3,737,140 | +424,071 | 408,578,823 | filing |
| 2025-10-26 | 3,313,069 | +662,169 | filing | |
| 2025-09-28 | 2,650,900 | +775,973 | filing | |
| 2025-08-31 | 1,874,927 | +82,237 | 234,712,310 | filing |
| 2025-08-27 | 1,792,690 | filing |
Recent 8-Ks
- 2026-11-02 7.01 Reg FD EX-99.1
- 2026-10-26 7.01 Reg FD EX-99.1
- 2026-10-19 7.01 Reg FD EX-99.1
- 2026-10-13 7.01 Reg FD EX-99.1
- 2026-10-07 7.01 Reg FD EX-99.2 EX-99.3
- 2026-10-05 7.01 Reg FD EX-99.1
- 2026-09-28 7.01 Reg FD EX-99.1
- 2026-09-21 7.01 Reg FD EX-99.1