BioNexus Gene Lab Corp., a Nasdaq-listed medical technology company incorporated in Wyoming, has approved Ethereum as its primary treasury asset. This decision makes it the first Nasdaq-listed company to adopt Ethereum exclusively for corporate treasury management. The company released an Ethereum Strategy Whitepaper highlighting Ethereum's institutional reliability, staking rewards of 3-5% annual yield, financial infrastructure dominance in stablecoin settlements, and programmability as reasons for its decision. Ethereum processes trillions of dollars in stablecoin transactions annually. BioNexus cited Ethereum's broader utility over Bitcoin, including its role in decentralized finance, programmability, and the upcoming Pectra protocol upgrade, which aims to enhance network performance and scalability. The firm also noted the supportive regulatory environment in Wyoming, including the Wyoming Stable Token Act. The company operates primarily in Asia through its Malaysian subsidiary and is addressing financial challenges, including a Nasdaq non-compliance notice for its stock price. BioNexus reported $9.26 million in revenue, a $5.88 million market cap, and a stock price of $0.32, with plans for a reverse stock split by April 2025.