Company adoption of crypto in treasury administration is rising quickly. Within the first half of 2025, the tally of public firms holding BTC practically doubled, in keeping with a report from K33 Analysis.
K33 revealed that between December 2024 and June 2025, the variety of listed corporations with Bitcoin (BTC) on their steadiness sheets climbed from 70 to 134, amassing a complete of 244,991 BTC.
The pattern is drawing comparisons to earlier waves of company gold adoption. “There are clear parallels, notably round offering a method for buyers to entry an underlying asset which they might have beforehand struggled to entry,” Mike Foy, chief monetary officer at AMINA Financial institution, informed Cointelegraph.
Foy stated the motion’s sustainability hinges on market specifics and regulatory environments. “Time will inform if this turns into a sustainable pattern, however it’s clear that technique has a primary mover benefit,” he famous, including that firms in jurisdictions with restricted entry to institutional crypto merchandise stand to learn essentially the most.
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Crypto treasuries: lifeline or final resort?
Notably, the crypto treasury pattern can be fueling skepticism that struggling corporations could also be utilizing digital belongings as a reputational lifeline. Foy acknowledged that the temptation exists for corporations below strain.
Final month, biotech agency Windtree Therapeutics disclosed a $60 million buy settlement with Construct and Construct Corp. to start its BNB treasury plan, adopted by a $500 million fairness line of credit score and a $20 million stock-purchase pact to broaden its holdings.
The corporate briefly loved a lift in mid-July when it introduced the BNB treasury technique, however shares have since fallen greater than 90% from their peak.
On Tuesday, Nasdaq introduced the biotech agency could be delisted for failing to keep up the $1.00 minimal bid worth required below Itemizing Rule 5550(a)(2).
Foy prompt analyzing their conduct to identify corporations utilizing crypto treasury for short-term optics. He suggested checking administration’s danger experience, leverage ranges, deal with core enterprise and insider share gross sales.
“If any of those appear unusual or out of the abnormal, then that is presumably an indication that this isn’t a long run plan however somewhat a brief time period share worth play,” he stated.
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Corporations check Ether, altcoins in treasuries
Whereas Bitcoin stays the dominant alternative for treasuries, corporations are starting to experiment with Ether (ETH) and chosen altcoins. The distinction, in keeping with Foy, lies within the potential for staking rewards and new collaboration alternatives with blockchain foundations.
Final month, Ray Youssef, CEO of NoOnes, stated Ethereum’s hybrid attraction is drawing treasury managers. “Ethereum begins to seem like a hybrid between tech fairness and digital forex. This appeals to treasury strategists wanting past passive storage,” he stated.
Youssef stated ETH’s staking yield, programmability and compliance-friendly roadmap have made the cryptocurrency interesting to “forward-looking firms, particularly these already concerned within the digital financial system.”
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