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By James Van Straten|Edited by Sheldon Reback
Jul 2, 2025, 8:48 a.m.
- Public companies now hold about 4% of the total bitcoin supply, compared with roughly 6.8% held by ETFs.
- Firms adopting bitcoin treasuries hope to differentiate themselves and tap into new sources of capital and investor enthusiasm.
Publicly traded companies are rapidly building bitcoin
reserves, buying more of the largest cryptocurrency than U.S. exchange-traded-funds(ETF)for the third straight quarter, according toCNBC.
Corporations increased their bitcoin holdings by about 18% in the three months ended June 30, adding roughly 131,000 BTC. The ETF holdings grew 8%, or around 111,000 BTC, based on figures from Bitcoin Treasuries.net.
STORY CONTINUES BELOW
ETFs still hold the largest stash of bitcoin among single entities, with over 1.4 million BTC, which makes up about 6.8% of bitcoin’s capped supply of 21 million, according to CNBC.
The last time ETFs surpassed public companies in bitcoin buying was back in third-quarter 2024, before U.S. President Donald Trump secured reelection. In April 2025, despite market volatility from Trump’s tariff announcements, public companies expanded their bitcoin holdings by 4% outpacing the 2% growth seen among ETFs, according to CNBC.
James Van Straten is a Senior Analyst at CoinDesk, specializing in Bitcoin and its interplay with the macroeconomic environment. Previously, James worked as a Research Analyst at Saidler & Co., a Swiss hedge fund, where he developed expertise in on-chain analytics. His work focuses on monitoring flows to analyze Bitcoin’s role within the broader financial system.
In addition to his professional endeavors, James serves as an advisor to Coinsilium, a UK publicly traded company, where he provides guidance on their Bitcoin treasury strategy. He also holds investments in Bitcoin and Strategy (MSTR).
