TORICO Adds More Ethereum to Portfolio, Total Holdings Exceed 2920 ETH

TORICO, a Japanese company listed on the Tokyo Stock Exchange's Growth Market, has added more Ethereum (ETH) to its portfolio. The latest purchase of 25.8642 ETH was announced on August 31, with a total value of ¥10 million ($90,000 USD). This brings TORICO's total ETH holdings to 2,945.9375, valued at approximately ¥1.24 billion ($11.3 million USD) at an average price of ¥42,296 (about $390 USD) per ETH.

TORICO has been actively accumulating Ethereum throughout August, with the company purchasing a total of 137.64113 ETH between August 24 and 26. The average purchase price for this period was approximately ¥39,379 ($360 USD) per ETH.

The company's investment strategy involves using put options to hedge against potential losses, as announced in May when TORICO began using the 'Target Buying Strategy' (Cash Secured Put). This approach allows the company to buy Ethereum at a predetermined price while receiving option premiums. In June, TORICO invested ¥2.66 billion ($24.6 million USD) in an ETH-based hedge fund managed by Hyperithm LLC.

TORICO has also opened a trading account with Japanese cryptocurrency exchange BitFlyer, marking the company's third domestic partner for Ethereum transactions, following SBI VC Trade and Coincheck.