Categories: Bitcoin Latest News

Public Firms Snag 131,000 BTC, Surpassing ETFs In Bitcoin Purchases

According to CNBC, corporate treasuries around the globe have surpassed exchange-traded funds (ETFs) in Bitcoin (BTC) acquisitions for three consecutive quarters. 

This indicates a growing interest among public companies to adopt strategies similar to those pioneered by Strategy, especially in a more favorable regulatory environment under President Donald Trump’s administration.

Bitcoin Holdings Surge

Data from Bitcoin Treasuries shows that public companies acquired approximately 131,000 Bitcoin in the second quarter of the year, marking an 18% increase in their BTC holdings. In contrast, exchange-traded funds managed to secure about 111,000 Bitcoin, representing an 8% growth during the same period. 

Nick Marie, head of research at Ecoinometrics, emphasized that the motivations behind these purchases differ significantly. While institutional buyers utilizing ETFs seek exposure to BTC for a variety of reasons, Marie asserted that public companies are primarily focused on accumulating Bitcoin to enhance shareholder value.

The market dynamics have also shown that public company BTC holdings increased by 4% in April, a month marked by significant volatility following President Trump’s announcement of initial tariffs. During the same time frame, ETF holdings rose by only 2%. 

Marie noted that public companies are less concerned with Bitcoin’s current market price, prioritizing the growth of their Bitcoin reserves to appear more attractive to potential investors.

ETFs Still Dominate In This Key Metric

Despite the increasing activity from public companies, Bitcoin ETFs remain the largest holders of the cryptocurrency, collectively holding over 1.4 million BTC, or about 6.8% of the total capped supply of 21 million coins. Public companies, on the other hand, hold around 855,000 Bitcoin, approximately 4% of the total supply.

The recent surge in corporate BTC accumulation is also a reflection of significant regulatory changes favoring the crypto industry. The last time ETFs outperformed public companies in Bitcoin purchases was during the third quarter of 2024, prior to Trump’s re-election.

Several notable companies have entered the Bitcoin market recently. GameStop began acquiring Bitcoin after its board approved it as a treasury reserve asset earlier this year. 

Similarly, health-care firm KindlyMD merged with Nakamoto, a Bitcoin investment company, while investor Anthony Pompliano’s ProCap launched its own BTC purchasing initiative and plans to go public via a special purpose acquisition company (SPAC).

Direct Exposure May Ease

Strategy, formerly MicroStrategy, continues to lead the charge in the Bitcoin treasury space with approximately 597,000 Bitcoin in its possession. Following closely is Bitcoin miner Mara Holdings, which holds nearly 50,000 coins. 

Ben Werkman, chief investment officer at Swan BTC, remarked on the challenges smaller firms face in trying to match Strategy’s scale. He predicted that institutional capital will continue to gravitate toward Strategy due to its deep liquidity and established presence.

Looking ahead, Marie suggested that the number of companies adhering to a BTC treasury strategy may dwindle over the next decade as the market matures. 

He noted that as more firms enter the space, the individual impact of each company will likely diminish. Additionally, as Bitcoin becomes more normalized, investor constraints regarding direct exposure may fade.

Featured image from DALL-E, chart from TradingView.com

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