Nuvve Holding Corp. (NASDAQ:NVVE) has announced the launch of a new wholly owned subsidiary aimed at investing in digital assets and blockchain ventures.
The move signals a broader shift for the company as it seeks to tap into emerging technologies beyond its core focus on grid modernization and vehicle-to-grid (V2G) services.
Nuvve-DigitalAssets, the new subsidiary, will manage a broad cryptocurrency portfolio aimed at generating sustained returns for shareholders and tapping into expansion opportunities within the blockchain sector.
The newly established division has begun investing in Bitcoin via an ETF using excess cash reserves. Moving ahead, the portfolio will keep a minimum 50% weighting in Bitcoin, with the balance distributed among leading cryptocurrencies like Ethereum, Solana, Aave, Chainlink, and Avalanche.
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“Bitcoin is no longer an experiment. It is an unstoppable force, and we will not sit on the sidelines while the next financial revolution unfolds,” said co-founder and CEO Gregory Poilasne.
“Companies that have leveraged Bitcoin and crypto early are winning, and we plan to be one of them. Anchoring our portfolio with Bitcoin gives us a solid foundation, but we’re moving beyond that, investing opportunistically into a new wave of digital assets with massive upside potential that represent the future of global financial markets.”
Nuvve's Board of Directors and leadership team have unanimously backed the decision, viewing it as an important extension of the company’s long-term growth initiatives.
The company facilitates transportation electrification with its vehicle-to-grid (V2G) technology, which allows electric vehicles to store and return energy to the grid. Nuvve aims to reduce EV ownership costs and promote a cleaner, more resilient energy system.
Price Action: NVVE shares traded lower by 5% at $0.86 at last check Monday.
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