Cosmos Health Secures $300M Facility to Build Ethereum Treasury

Nasdaq-listed Cosmos Health secured access to up to $300 million through a securities purchase agreement with a U.S. institutional investor. The company will use these funds to build an Ethereum treasury reserve.

The agreement allows Cosmos Health to issue senior secured convertible promissory notes. Under the terms, at least 72.5% of net proceeds from each funding round must go toward buying and holding Ethereum. The remaining funds will support working capital and growth projects.

BitGo Trust Company will custody and stake the accumulated Ethereum. Cosmos Health plans to explore additional ways to generate returns from its Ethereum holdings, including staking rewards and DeFi strategies.

Greg Siokas, CEO of Cosmos Health, said the financing gives shareholders direct exposure to Ethereum. The company also plans to use funds for e-commerce expansion, supply chain tracking projects, wellness programs, and consumer engagement initiatives.

Geoffrey Kendrick, head of digital assets research at Standard Chartered, recently stated that companies adopting Ethereum treasury strategies are “very investable.” He noted these companies offer better opportunities than U.S. spot Ethereum ETFs because they can access DeFi staking rewards.

Several public companies have announced similar treasury strategies in early 2025. Cosmos Health joins this group of firmsб adding Ethereum to their corporate reserves. The company has not specified a timeline for deploying the funds or how quickly it plans to build its Ethereum position. 

Cosmos Health operates in the healthcare sector and has been expanding its digital capabilities. The company trades on Nasdaq under the ticker COSM. The securities purchase agreement structure allows Cosmos Health to draw funds in tranches rather than receiving the full amount upfront.