Corporate Bitcoin Holdings Grow at Double the Rate of US Spot ETFs for Third Quarter

Mara Schmiedt, CEO of Alluvial, recently highlighted a significant trend in the cryptocurrency market: public companies are accumulating Bitcoin at a faster rate than US spot Bitcoin Exchange-Traded Funds (ETFs). This marks the third consecutive quarter that corporate treasuries have outpaced ETF accumulation, positioning them as a major "supply sink" for the digital asset. The shift indicates a growing strategic embrace of Bitcoin by corporations.

MicroStrategy, recently rebranded as Strategy, remains the foremost corporate holder of Bitcoin. As of early July 2025, the company holds approximately 597,325 BTC, making it the largest publicly traded corporate owner. Led by Executive Chairman Michael Saylor, Strategy has consistently expanded its Bitcoin reserves, often leveraging convertible notes and equity offerings to fund these acquisitions.

Beyond MicroStrategy, a growing number of public companies are integrating Bitcoin into their balance sheets. As of mid-2025, an estimated 130 publicly traded firms collectively hold over 693,000 BTC, excluding MicroStrategy's substantial holdings. This trend reflects a strategic move by companies to utilize Bitcoin as a treasury asset, citing its potential as an inflation hedge and a long-term store of value.

In contrast, US spot Bitcoin ETFs, while holding a substantial 1.25 million BTC as of July 9, 2025, have shown a comparatively slower accumulation rate in recent quarters. Despite attracting significant inflows since their January 2024 launch, a report from CCN.com indicates that public companies acquired nearly twice as much Bitcoin as ETFs in the first half of 2025.

Schmiedt's tweet underscored this dynamic:

"We've seen this movie before. @MicroStrategy and other public companies are scooping up BTC faster than US ETFs can accumulate - for the third consecutive quarter. Corporate treasuries are quickly becoming the most aggressive crypto supply sink in the market and a fast lane to price go up."

Mara Schmiedt, known for her expertise in institutional crypto adoption, emphasizes the increasing role of corporate treasuries in shaping market dynamics. This sustained and aggressive accumulation strategy by companies, often funded through traditional financial mechanisms, highlights a maturing intersection between corporate finance and the digital asset ecosystem, potentially driving Bitcoin's market price upwards.