The corporate world is entering a new phase of digital asset accumulation, one that’s redefining how publicly traded companies manage their balance sheets. Data shared by a16z and Blockworks shows that 2025 has become the breakout year for “crypto treasury companies”, with major firms now collectively holding billions of dollars in Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
According to the chart, these corporate treasuries are no longer dipping their toes into crypto, they’re diving in. Bitcoin remains the cornerstone, with companies like Strategy (MSTR) leading global holdings at $73 billion, followed by CEP ($5 billion) and CEPO ($3.4 billion).
Ethereum treasuries have surged as well, with BMNR ($11 billion) and SBET ($3.5 billion) emerging as major institutional holders. Meanwhile, Solana is seeing rapid adoption among listed firms such as FORD ($1.4 billion) and DFDV ($428 million), signaling expanding diversification beyond Bitcoin.
Institutional Adoption Reaches a New Threshold
The data shows that publicly traded treasuries now control a measurable percentage of the total token supply across the top three networks- roughly 3% of Bitcoin, 2.5% of Ethereum, and 1.5% of Solana as of October 2025. This represents the fastest pace of institutional accumulation since Bitcoin’s 2021 ETF cycle.
The acceleration began in early 2025 and intensified after midyear, coinciding with the approval of multiple crypto-related ETFs, growing regulatory clarity, and broader acceptance of tokenized reserves. Analysts note that this new wave of adoption is driven not only by speculative interest but by strategic treasury diversification, corporations using crypto as a hedge against inflation, currency risk, and global market volatility.
From Strategy to Solana: Corporate Treasuries Go Multichain
While Bitcoin remains the dominant store of value for most public entities, Ethereum and Solana are increasingly viewed as productive assets, powering ecosystems tied to decentralized finance, AI, and real-world tokenization. The steep climb in Ethereum and Solana holdings since May 2025 highlights growing confidence in their long-term utility.
Ethereum’s shift toward staking yield and Solana’s low-cost, high-speed architecture have positioned both as attractive complements to Bitcoin’s digital gold narrative. Together, they form a three-tiered institutional portfolio: Bitcoin for security, Ethereum for yield, and Solana for scalability.
A Paradigm Shift in Corporate Balance Sheets
Just five years ago, crypto on corporate balance sheets was an exception. In 2025, it’s becoming a norm. As macro uncertainty, currency debasement, and tech adoption converge, traditional firms are increasingly holding blockchain assets alongside cash and treasuries.
With publicly traded companies now owning a growing share of the total Bitcoin, Ethereum, and Solana supply, the market is witnessing a structural shift: institutional adoption has moved from speculation to strategy.
If this pace continues, 2025 won’t just be remembered as another bull cycle, it will be the year when corporate treasuries officially became crypto-native.
