South Korea’s first Ethereum treasury company! Parataxis Holdings acquires Sinsiway for $27.3 million to build ETH DAT

New York-based digital asset investment firm Parataxis Holdings has agreed to acquire a majority stake in Korean data security company Sinsiway (stock code: 290560) for 40 billion KRW (approximately $27.3 million USD), with plans to transform it into Korea’s first publicly listed Ethereum (ETH) treasury company. (Background: Japan’s first Ethereum treasury, Quantum Solutions, receives investment from “Cathie Wood of Japan”! Bought 2,365 ETH in 7 days, ranked 11th globally among Ethereum DATs) (Supplement: Overview of the top 10 Ethereum treasury companies: How do they generate returns with ETH?)

New York-based digital asset investment firm Parataxis Holdings has agreed to acquire a majority stake in Korean data security company Sinsiway (stock code: 290560) for 40 billion KRW (approximately $27.3 million USD), with plans to transform it into Korea’s first publicly listed Ethereum (ETH) treasury company. This deal marks Parataxis’s further expansion into the Korean crypto asset sector, following a similar strategy to establish a Bitcoin treasury.

Ethereum Entering a Supercycle

According to CoinDesk, Parataxis will secure a controlling stake in Sinsiway in a deal valued at 40 billion KRW. Upon completion, Sinsiway will be renamed Parataxis ETH and become a digital asset treasury (DAT) focused on holding Ethereum reserves. The new company will be backed by U.S. institutional capital, focusing on ETH asset management, including accumulating ETH and developing related financial products. Additionally, Parataxis founder and CEO Edward Chin will join the board to strengthen corporate governance.

Notably, this will be Korea’s first publicly listed ETH treasury, aimed at introducing digital assets to Korean public markets and providing more investors access to crypto via the stock market. Previously, the company launched Parataxis Korea (formerly Bridge Biotherapeutics), focusing on a Bitcoin treasury and mining business, currently holding over 150 BTC and having completed a 10 billion KRW financing round.

In a statement, Edward Chin said: “Ethereum, as the most trusted platform supporting key use cases like stablecoins, decentralized finance (DeFi), and blockchain gaming, is entering its own supercycle, with its core driver being adoption from Wall Street.”

What is Parataxis Holdings?

Parataxis Holdings’ parent company, Parataxis Capital, was founded in 2019 as a multi-strategy investment advisory firm focused on digital assets. The team is composed of professionals with experience in traditional finance, digital assets, and risk management. The company primarily manages hedge funds and provides advisory services to institutional investors, including family offices, high-net-worth individuals, and registered investment advisors (RIAs).

Parataxis Capital emphasizes capturing market cycle return opportunities through diversified strategies and applies a rigorous asset management approach to the crypto space. Its funds recorded an annualized return of up to 341% in 2023, demonstrating strong competitiveness in the volatile digital asset market. The transaction is expected to be submitted to a shareholder meeting for approval in January 2026. If approved, it will further promote the internationalization of Korea’s crypto industry.

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〈Korea’s First Ethereum Treasury Company! Parataxis Holdings Spends $27.3 Million to Acquire Sinsiway and Build an ETH DAT〉This article was first published on BlockTempo, the most influential blockchain news media.