The global capital markets are witnessing a significant transformation as public companies increasingly integrate crypto assets and blockchain technology into their core strategies. This shift is not merely a trend but a fundamental change in how companies approach asset management, revenue generation, and market valuation.
From trading giants like Coinbase to corporate Bitcoin buyers such as MicroStrategy and Meitu, and mining enterprises combined with on-chain financial services like Galaxy and Marathon, a diverse range of publicly traded firms are using crypto narratives to fuel stock price growth. This movement reflects a deeper capital logic and evolutionary trend in modern finance.
To provide a clear overview, we have categorized 44 representative global public companies into five key sectors based on their primary crypto-related activities. These categories help investors and market participants understand the landscape and identify potential opportunities.
Crypto Trading Platforms: The Market Hubs
Cryptocurrency exchanges serve as the foundational infrastructure for the digital asset ecosystem, providing liquidity, security, and access for retail and institutional investors alike.
Coinbase Global (NASDAQ: COIN)
Coinbase is a leading U.S.-based compliant cryptocurrency exchange established in 2012. It offers a secure platform for buying, selling, transferring, and storing digital assets. The company serves retail investors, institutions, and developers, and it co-created the USDC stablecoin with Circle. As of Q1 2025, Coinbase holds 9,267 BTC and 137,334 ETH.
Bakkt (NYSE: BKKT)
Bakkt, launched by Intercontinental Exchange (ICE) in 2018, focuses on digital asset custody, trading, and infrastructure for institutional clients. It emphasizes regulatory compliance and security, and also offers crypto payment solutions for merchants. In June 2025, the company updated its investment policy to include Bitcoin and other digital assets as part of its broader financial strategy.
Robinhood (NASDAQ: HOOD)
Known for its commission-free trading platform, Robinhood has expanded into cryptocurrency trading and is exploring real-world asset (RWA) tokenization. It supports Bitcoin, Ethereum, and other assets, and participates in the Global Dollar Network to promote USDG, a dollar-pegged stablecoin. The company recently acquired Bitstamp, a Luxembourg-based crypto exchange, enhancing its regulatory licenses and institutional client base.
OSL Group (HKEX: 0863)
OSL is a licensed digital asset platform based in Hong Kong, providing crypto trading, custody, and compliance solutions for both institutional and retail clients in Asia.
Guotai Junan International (HKEX: 1788)
A subsidiary of one of China’s largest securities firms, this Hong Kong-based company has upgraded its license to offer virtual asset trading services. It now allows clients to trade major cryptocurrencies and stablecoins, becoming the first Chinese-backed securities firm in Hong Kong to provide comprehensive crypto services.
OKLink (HKEX: 1499)
OKLink, part of the OK Group, specializes in blockchain infrastructure, data analytics, and financial services. It offers blockchain explorers, anti-money laundering (AML) tools, and stablecoin settlement networks.
Stablecoin Issuers: Bridging Traditional and Crypto Finance
Stablecoins play a critical role in connecting fiat currencies with digital assets, enabling seamless transactions and settlements.
Circle Internet Group (NASDAQ: CRCL)
Circle is a major fintech company that co-created USDC, the second-largest stablecoin by market cap. After its IPO in 2025, which raised $1.05 billion, the company’s valuation reached $6.8 billion. Circle focuses on stablecoin payment and trading infrastructure.
JD CoinChain Tech (HKEX: 9618)
A subsidiary of JD.com, this company explores blockchain applications in supply chain management and financial services. It is developing a Hong Kong and U.S. dollar-pegged stablecoin, currently in sandbox testing for use cases like cross-border payments and retail transactions.
Grandshores Technology (HKEX: 1647)
Based in China’s Xiong’an New Area, Grandshores focuses on blockchain solutions for smart cities and financial services. It has also explored stablecoin infrastructure through its investment fund.
Major Crypto Asset Holders: Digital Gold on the Balance Sheet
Companies in this category are known for holding significant amounts of crypto assets, primarily Bitcoin, as a treasury reserve asset to hedge against inflation and enhance shareholder value.
MicroStrategy (NASDAQ: MSTR)
MicroStrategy is the world’s largest corporate holder of Bitcoin, with nearly 580,000 BTC acquired since August 2020. Under CEO Michael Saylor’s leadership, the company’s stock has surged over 4,300%, demonstrating how Bitcoin reserves can reshape valuation narratives.
Tesla (NASDAQ: TSLA)
Elon Musk’s electric vehicle company made headlines in 2021 by purchasing $1.5 billion in Bitcoin and briefly accepting it as payment. Although most of the position was later sold, Tesla’s move sparked widespread corporate interest in crypto assets.
GameStop Corp. (NYSE: GME)
Famous for its 2021 retail investor-driven short squeeze, GameStop has since launched an NFT marketplace and holds Bitcoin as part of its crypto reserve strategy.
Meitu (HKEX: 1357)
This Chinese photo-editing app company diversified its treasury by investing in Bitcoin and Ethereum in 2021, aligning with its focus on digital innovation.
Trump Media & Technology Group (NASDAQ: DJT)
The operator of Truth Social platform has announced plans to hold up to $2.3 billion in crypto assets, potentially reshaping its market valuation.
Metaplanet (TSE: 3350)
This Japanese firm has adopted a Bitcoin-focused strategy, planning to acquire 210,000 BTC by 2027. It currently holds 12,345 BTC, and crypto reserves dominate its market narrative.
SharpLink Gaming (NASDAQ: SBET)
After facing delisting risks due to poor performance, SharpLink announced Ethereum as its primary reserve asset, securing $425 million in funding. It now holds 188,478 ETH, making it the largest public company holder of Ethereum.
Cantor Equity Partners (NASDAQ: CEP)
Following a merger, this financial services firm aims to hold $3 billion in crypto assets with support from Tether and SoftBank.
NextTech Holding (NASDAQ: NXTT)
A Chinese SaaS company, NextTech holds 5,833 BTC as part of its treasury management strategy.
Asset Entities (NASDAQ: ASST)
A digital marketing firm that merged with Strive Asset Management to become a publicly traded Bitcoin treasury company, focusing on maximizing Bitcoin exposure for shareholders.
ATIF Holdings Limited (NASDAQ: ATIF)
A financial consulting firm that announced a plan to raise $100 million to purchase Dogecoin (DOGE) as part of its treasury strategy, potentially becoming the first major public company to hold meme coins.
Brooker Group (SET: BTC)
A Thai financial consultancy that holds multiple cryptocurrencies, including Bitcoin and Ethereum, though specific amounts are undisclosed.
SRM Entertainment, Inc. (NASDAQ: SRM)
Originally a toy manufacturer, SRM announced TRON’s TRX as its core reserve asset and plans to merge with the Tron blockchain group, rebranding as “Tron Inc.”
Jiuzi Holdings (NASDAQ: JZXN)
A Chinese electric vehicle retailer that approved a strategy to acquire 1,000 BTC over the next year to optimize its asset structure.
Kindly MD (NASDAQ: NAKA)
A healthcare provider that merged with Nakamoto Holdings to create a publicly traded Bitcoin treasury platform, changing its stock ticker to “NAKA” to reflect the new direction.
Siebert Financial Corp. (NASDAQ: SIEB)
A financial services firm that registered to raise up to $100 million for purchasing BTC, ETH, Solana, and other digital assets.
Trident Digital Tech Holdings (NASDAQ: TDTH)
A Singapore-based digital tech company that plans to raise $500 million to build an XRP treasury and launch staking mechanisms.
VivoPower International (NASDAQ: VVPR)
A sustainable energy solutions provider that raised $121 million in private funding to become the first public company with an XRP-centric treasury.
Webus International (NASDAQ: WETO)
A smart mobility technology provider based in Hangzhou, planning to raise $300 million for building an XRP treasury.
Wellgistics Health (NASDAQ: WGRX)
A pharmaceutical wholesale company that launched an XRP payment network and treasury reserve model for supply chain transactions.
Blockchain Technology and DeFi Pioneers: Building Future Financial Infrastructure
These companies are focused on developing and deploying blockchain-based solutions, including decentralized finance (DeFi) platforms, asset management tools, and compliance services.
Galaxy Digital (NASDAQ: GLXY)
A comprehensive digital asset financial services group offering trading, asset management, and consulting services. It holds approximately 12,830 BTC and has expanded its regulatory approvals in the U.S. and U.K.
U-Time Limited (HKEX: 8005)
A Hong Kong-listed company involved in distributed storage, IDC services, and digital asset businesses, including mining equipment procurement and IPFS/Filecoin infrastructure.
New Huo Technology (HKEX: 1611)
Formerly known as Huobi Technology, this company focuses on compliant digital asset services, including custody, mining, and trading, with strategic partnerships in Hong Kong and Macau.
DeFi Technologies (NASDAQ: DEFT)
A Canadian company that issues exchange-traded products (ETPs) for digital assets through its subsidiary Valour. It holds BTC, ETH, and SOL, and participates in Ethereum staking.
DeFi Development Corp (NASDAQ: DFDV)
Originally a real estate fintech firm, this company transitioned to a Solana treasury strategy, holding over 621,313 SOL. It also tokenized its stock on the Solana blockchain.
Upexi (NASDAQ: UPXI)
An e-commerce company that pivoted to a Solana treasury, holding approximately 735,692 SOL after raising $100 million from crypto venture firms.
BTCS Inc. (NASDAQ: BTCS)
A blockchain infrastructure company offering node operations, staking services, and on-chain data analytics. It holds 14,600 ETH and continues to expand its node business.
Mercurity Fintech Holding Inc. (NASDAQ: MFH)
A blockchain technology company focused compliant fintech solutions, including RWA tokenization and partnerships with traditional finance institutions.
Crypto Mining Companies: Guardians of Compute and Value
Mining firms provide the essential computational power that secures blockchain networks and generates new coins, often holding significant reserves of the assets they mine.
Bitdeer Technologies (NASDAQ: BTDR)
Founded by Bitmain co-founder Jihan Wu, Bitdeer offers mining solutions and operates data centers globally. It mined 196 BTC in May 2025 and is expanding its high-performance computing (HPC) and AI infrastructure.
Canaan Inc. (NASDAQ: CAN)
A leading manufacturer of ASIC bitcoin miners, Canaan produces the Avalon series and operates mining farms in multiple countries, including the U.S. and Kazakhstan.
CleanSpark (NASDAQ: CLSK)
A U.S. bitcoin mining company that emphasizes sustainable energy solutions. It has achieved a hash rate of over 50 EH/s and mines approximately 694 BTC monthly.
DMG Blockchain Solutions (TSXV: DMGI)
A Canadian blockchain company that engages in mining, software development, and custody services. It holds 351 BTC and focuses on ESG compliance.
Hut 8 Corp. (NASDAQ: HUT)
One of North America’s largest energy infrastructure operators, Hut 8 mines Bitcoin and provides high-performance computing services. It holds over 10,273 BTC and has secured financing for capacity expansion.
Marathon Digital (NASDAQ: MARA)
A major Bitcoin mining company with a hash rate of 58.3 EH/s, Marathon mined 950 BTC in May 2025 and holds 49,179 BTC in its treasury.
Riot Platforms (NASDAQ: RIOT)
Previously known as Riot Blockchain, this company focuses on Bitcoin mining and energy infrastructure. It produced 514 BTC in May 2025 and holds 18,221 BTC.
Frequently Asked Questions
Why are public companies adding crypto assets to their balance sheets?
Companies are using crypto, particularly Bitcoin, as a hedge against inflation and currency devaluation. It also serves as a strategic asset to diversify treasuries, generate returns, and attract investor interest in innovative financial strategies.
What are the risks associated with corporate crypto adoption?
Key risks include price volatility, regulatory uncertainty, cybersecurity threats, and accounting challenges. Companies must also ensure compliance with local laws and safeguard assets through secure custody solutions.
How do crypto holdings affect a company’s stock performance?
Positive crypto price movements can lead to higher valuations and stock prices, as seen with MicroStrategy and Tesla. However, downturns may negatively impact earnings and shareholder confidence, creating correlation risks.
Which cryptocurrencies are most commonly held by public companies?
Bitcoin is the most popular due to its liquidity and recognition as digital gold. Ethereum, Solana, and stablecoins like USDC are also held for yield generation, transactions, and specific treasury strategies.
What is the difference between holding crypto directly and through ETFs?
Direct ownership provides full control and potential for higher returns but requires secure custody. ETFs offer convenience, regulatory compliance, and liquidity but involve management fees and less direct exposure.
How can investors identify companies with crypto exposure?
Investors should review quarterly reports, treasury announcements, and SEC filings. Sectors like trading platforms, mining firms, and tech companies are more likely to have significant crypto strategies.
Conclusion
The integration of crypto assets into public company strategies is accelerating, driven by the pursuit of innovation, value creation, and competitive advantage. From Bitcoin treasuries to Ethereum reserves and blockchain infrastructure investments, this trend is reshaping corporate finance and investment landscapes.
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As traditional and digital finance continue to merge, understanding these dynamics becomes crucial for investors seeking to capitalize on the next wave of growth. The companies leading this charge are not only adopting new technologies but also redefining how value is stored, transferred, and amplified in the modern economy.