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 line with a report from K33 Analysis.
K33 revealed that between December 2024 and June 2025, the variety of listed companies with Bitcoin (BTC) on their steadiness sheets climbed from 70 to 134, amassing a complete of 244,991 BTC.
The development 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 could have beforehand struggled to entry,” Mike Foy, chief monetary officer at AMINA Financial institution, advised Cointelegraph.
Foy mentioned the motion’s sustainability hinges on market specifics and regulatory environments. “Time will inform if this turns into a sustainable development, 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 profit essentially the most.
Associated: Monster week for crypto treasury companies with $8B shopping for blitz
Crypto treasuries: lifeline or final resort?
Notably, the crypto treasury development can be fueling skepticism that struggling companies could also be utilizing digital belongings as a reputational lifeline. Foy acknowledged that the temptation exists for companies below stress.
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 increase 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 can be delisted for failing to take care of the $1.00 minimal bid value required below Itemizing Rule 5550(a)(2).
Foy recommended inspecting their habits to identify companies utilizing crypto treasury for short-term optics. He suggested checking administration’s threat experience, leverage ranges, concentrate on core enterprise and insider share gross sales.
“If any of those appear unusual or out of the peculiar, then that is presumably an indication that this isn’t a long run plan however fairly a brief time period share value play,” he mentioned.
Associated: Altcoin treasury race: VERB TON acquisition firm declares $780M in belongings
Corporations take a look at Ether, altcoins in treasuries
Whereas Bitcoin stays the dominant alternative for treasuries, companies are starting to experiment with Ether (ETH) and chosen altcoins. The distinction, in line with Foy, lies within the potential for staking rewards and new collaboration alternatives with blockchain foundations.
Final month, Ray Youssef, CEO of NoOnes, mentioned Ethereum’s hybrid enchantment is drawing treasury managers. “Ethereum begins to appear to be a hybrid between tech fairness and digital forex. This appeals to treasury strategists trying past passive storage,” he mentioned.
Youssef mentioned 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 economic system.”
Journal: How Ethereum treasury firms might spark ‘DeFi Summer time 2.0’
