ETH Strategy, an Ethereum-based leveraged treasury protocol, has secured $46.5 million in prelaunch funding by raising 12,342 ETH. The project aims to provide leveraged exposure to Ethereum through its treasury accumulation protocol. Following the funding round, ETH Strategy initiated a phased rollout of its protocol and launched its native token, $STRAT, which went live on Tuesday. The token launch has seen positive initial trading activity, with $36.5 million in trading volume recorded shortly after launch. ETH Strategy positions $STRAT as a decentralized finance (DeFi) native Ethereum decentralized autonomous treasury (DAT) token.