What's more, as the U.S. IPO market heats back up, more of these deals could follow, said Angelo Bochanis, an analyst at Renaissance Capital, a provider of pre-IPO research and IPO-focused ETFs.

Nasdaq-listed SharpLink Gaming (SBET) flipped the Ethereum Foundation to become the largest corporate holder of ETH after acquiring 74,656 ETH for $213 million last week, according to a press release.