Bitcoin Treasuries Report July 2025

Bitcoin treasuries refer to the reserves of Bitcoin held by various institutional entities—including public and private companies, governments, exchange-traded funds (ETFs), and decentralized finance (DeFi) protocols—as part of their balance sheets or strategic reserves.

This trend has accelerated since the mid-2020s as Bitcoin began to gain traction not just as a speculative asset but as a store of value, a hedge against inflation, and in some cases, a sovereign monetary experiment. Companies like MicroStrategy and Tesla led the corporate adoption wave, while countries like El Salvador and Bhutan added Bitcoin to their national reserves.

Meanwhile, the rise of Bitcoin ETFs—especially in the U.S.—has further institutionalized Bitcoin investment, giving traditional investors regulated access to BTC exposure without needing to directly hold the asset.

In total, over 3.4 million BTC—about 16.2% of Bitcoin’s 21 million hard cap—are now held by these entities. This consolidation underscores a significant shift: Bitcoin is no longer a fringe asset, but a growing fixture in global finance and treasury management.

 

BTC holdings in publicly traded and private companies, ETFs and countries. 

Entities # of BTC Value Today % of 21m Last Updated
171 3,407,671 $371,032,747,654 16.227% July 08, 2025

 

Entities 171
# of BTC 3,407,671
Value Today $371,032,747,654
% of 21m 16.227%
Last Updated July 08, 2025
 

Totals by Category

Category # of BTC Value Today % of 21m
ETFs 1,432,674 $155,991,848,274 6.822%
Countries 529,705 $57,675,133,965 2.522%
Public Companies 857,322 $93,346,573,446 4.082%
Private Companies 421,641 $45,908,898,392 2.008%
BTC Mining Companies 104,536 $11,382,099,811 0.498%
Defi 166,330 $18,110,293,576 0.792%
 
 

Public Companies that Own Bitcoin

Entity Country Symbol:Exchange Filings & Sources # of BTC Value Today % of 21m
MicroStrategy USA MSTR:NADQ Filing 597,325 $65,037,707,693 2.844%
Marathon Digital Holdings Inc USA MARA:NADQ Filing 49,179 $5,354,688,698 0.234%
Twenty One Capital (XXI) USA XXI:NASDAQ Filing 37,229.7 $4,053,629,675 0.177%
Riot Platforms, Inc. USA RIOT:NADQ Filing 19,225 $2,093,248,952 0.092%
Metaplanet Inc. JAPAN 3350.T:TYO Filing 13,350 $1,453,569,493 0.064%
Galaxy Digital Holdings USA BRPHF:OTCMKTS Filing 12,830 $1,396,951,056 0.061%
CleanSpark Inc USA CLSK:NASDAQ Filing 12,608 $1,372,779,338 0.06%
Bitcoin Group SE Bitcoin Holdings Germany BTGGF:TCMKTS   12,387 $1,348,716,503 0.059%
Tesla, Inc USA TSLA:NADQ Filing 11,509 $1,253,118,449 0.055%
Hut 8 Corp CANADA HUT:NASDAQ Filing 10,264 $1,117,560,845 0.049%
Coinbase Global, Inc. USA COIN:NADQ Filing 9,267 $1,009,005,879 0.044%
Block, Inc. USA SQ:NYSE Filing 8,584 $934,639,740 0.041%
Next Technology Holding Inc. CHINA NXTT:NASDAQ Filing 5,833 $635,106,431 0.028%
ProCap BTC, LLC USA CCCM:NASDAQ Filing 4,932 $537,004,100 0.023%
GameStop Corp. USA GME:NYSE Filing 4,710 $512,832,383 0.022%
Semler Scientific USA SMLR:NASDAQ Filing 4,636.0 $504,775,143 0.022%
Cango Inc. CHINA CANG:NYSE Filing 3,713 $404,277,417 0.018%
Boyaa Interactive International Limited HONGKONG 0434.HK:HKEX Filing 3,353 $365,080,038 0.016%
Voyager Digital LTD CANADA VOYG:TSX Filing 2,287 $249,012,242 0.011%
HIVE Digital Technologies CANADA HIVE:NASDAQ Filing 2,201 $239,648,423 0.01%
Exodus Movement Inc USA EXOD:OTCMKTS Filing 2,038 $221,900,721 0.01%
The Blockchain Group FRANCE ALTBG:ALXP Filing 1,728 $188,147,422 0.008%
NEXON Co. Ltd JAPAN NEXOF:OTCMKTS Filing 1,717 $186,949,724 0.008%
BitFuFu, Inc. SINGAPORE FUFU:NASDAQ Filing 1,709 $186,078,671 0.008%
Fold Holdings, Inc. USA FLD:NASDAQ Filing 1,490 $162,233,598 0.007%
Bitdeer Technologies Group SINGAPORE BTDR:NASDAQ Filing 1,486.1 $161,808,960 0.007%
Canaan Inc. SINGAPORE CAN:NASDAQ Filing 1,466 $159,620,440 0.007%
Bitfarms Limited CANADA BITF:NASDAQ Filing 1,166 $126,955,957 0.006%
Brooker Group's BROOK (BKK) THAILAND BROOK:BKK Filing 1,150 $125,213,851 0.005%
Remixpoint, Inc. JAPAN 3825.T:TSE Filing 1,051.6 $114,499,901 0.005%
Core Scientific, Inc. USA CORZ:NASDAQ Filing 977 $106,377,332 0.005%
Cipher Mining USA CIFR:NASDAQ Filing 966 $105,179,635 0.005%
Meitu HONGKONG HKD:HKG Filing 941 $102,457,595 0.004%
KULR Technology Group, Inc. USA KULR:NYSE Filing 920 $100,171,081 0.004%
Ming Shing Group Holdings Limited (MSW) CHINA MSW:NASDAQ Filing 833 $90,698,381 0.004%
SOS Limited CHINA SOS:NYSE Filing 802.8 $87,410,156 0.004%
The Smarter Web Company PLC UNITED KINGDOM SWC.AQ:AQSE Filing 773.6 $84,230,813 0.004%
Phunware, Inc. USA PHUN:NASDAQ Filing 630 $68,595,414 0.003%
NFT Investments PLC UNITED KINGDOM NFT:AQSE 626 $68,159,887 0.003%
Méliuz BRAZIL CASH3:B3 Filing 595.7 $64,860,775 0.003%
MercadoLibre, Inc. ARGENTINA MELI:NADQ Filing 570.4 $62,106,070 0.003%
Alliance Resource Partners USA ARLP:NASDAQ Filing 513 $55,856,265 0.002%
Jasmine International PCL THAILAND JAS:SET Filing 506.4 $55,137,647 0.002%
Bit Digital, Inc. USA BTBT:NASDAQ Filing 417.6 $45,468,960 0.002%
Neptune Digital Assets CANADA NPPTF:OTCMKTS Filing 404 $43,988,170 0.002%
Nano Labs Ltd HONGKONG NA:NASDAQ Filing 400 $43,552,644 0.002%
Net Holding Anonim Sirketi TURKEY NTHOL TI:IST Filing 352.7 $38,402,543 0.002%
DMG Blockchain Solutions Inc. CANADA DMGGF:OTCMKTS Filing 350 $38,108,563 0.002%
Bitmax Co., Ltd SOUTH KOREA 377030:KRX Filing 300.1 $32,675,371 0.001%
The9 Limited CHINA NCTY:NASDAQ Filing 285 $31,031,258 0.001%
Advanced Bitcoin Technologies AG GERMANY ABT:DUS Filing 254 $27,655,928 0.001%
Phoenix Digital Assets PLC UNITED KINGDOM PNIX:AQSE Filing 247 $26,893,757 0.001%
CoinShares International Limited JE CNSRF:OTCQX Filing 236 $25,696,059 0.001%
Virtu Financial, Inc. USA VIRT:NASDAQ Filing 235 $25,587,178 0.001%
Rumble USA RUM:NASDAQ Filing 210.8 $22,952,243 0.001%
DEFI Technologies CANADA DEFTF:OTC Filing 208.8 $22,734,480 0.001%
H100 Group SWEDEN H100:NGM Filing 200.2 $21,798,098 0.001%
Prenetics USA PRE:NASDAQ Filing 187.4 $20,404,413 0.001%
ANAP Holdings JAPAN 3189:TYO Filing 184.7 $20,110,433 0.001%
LQwD FinTech Corp CANADA LQWDF:OTC Filing 171 $18,618,755 0.001%
FRMO Corp. USA FRMO:OTCMKTS Filing 158.7 $17,279,511 0.001%
LM Funding America, Inc. USA LMFA:NASDAQ Filing 155 $16,876,649 0.001%
BitMine Immersion Technologies, Inc. USA BMNR:NYSE Filing 154.2 $16,789,544 0.001%
DDC Enterprise Limited (DayDayCook) USA DDC:NYSE Filing 138 $15,025,662 0.001%
Phoenix Group PLC AE PHX:ADX Filing 131 $14,263,490 0.001%
Horizon Kinetics Holding Corporation USA HKHC:OTCID Filing 131 $14,263,490 0.001%
Sixty Six Capital, Inc. CANADA SIX:CSE Filing 126.8 $13,806,188 0.001%
Digi Power X Inc. (Digihost) CANADA HSSHF:OTCMKTS Filing 123.3 $13,425,102 0.001%
Genius Group USA GNS:NYSE Filing 120 $13,065,793 0.001%
Linekong Interactive Group Co., Ltd KY 8267:HKSE Filing 102.1 $11,116,812 0.0%
Bitcoin Depot USA BTM:NASDAQ Filing 100 $10,888,161 0.0%
BIGG Digital Assets Inc. CANADA BBKCF:OTCMKTS Filing 100 $10,888,161 0.0%
Yuxing InfoTech Investment Holdings Limited HONGKONG 8005:HKSE Filing 78.2 $8,514,541 0.0%
Matador CANADA MATA:TSXV Filing 77.4 $8,427,436 0.0%
Canada Computational Unlimited Corp. CANADA SATO:TSXV Filing 75 $8,166,120 0.0%
Coinsilium GI COIN:AQUIS Filing 73.7 $8,024,574 0.0%
Vanadi Coffee SA ES VANA:BME Filing 66 $7,186,186 0.0%
London BTC Company Limited (Vinanz) UNITED KINGDOM VINZF:OTCQX Filing 65.0 $7,077,304 0.0%
DigitalX UNITED KINGDOM DGGXF:OTCMKTS Filing 65 $7,077,304 0.0%
ATAI Life Sciences N.V. GERMANY ATAI:NASDAQ Filing 58 $6,315,133 0.0%
Cathedra Bitcoin Inc. USA CBTTF:OTCMKTS Filing 52.5 $5,716,284 0.0%
WonderFi CANADA WNDR:TSX Filing 39.8 $4,333,488 0.0%
k33 NORWAY K33:STO Filing 35 $3,810,856 0.0%
OneMedNet Corporation USA ONMD:NASDAQ Filing 34 $3,701,974 0.0%
Value Creation Co., Ltd. JAPAN 9238:TSE Filing 30.4 $3,310,000 0.0%
HK Asia Holdings Limited HONGKONG 1723.HK:HKEX Filing 28.9 $3,146,678 0.0%
Metromile USA MILE:NASDAQ Filing 25 $2,722,040 0.0%
SATO Technologies Corp. CANADA SATO:TSXV Filing 24 $2,613,158 0.0%
Sphere 3D Corp USA ANY:NASDAQ Filing 22.7 $2,471,612 0.0%
MURANO GLOBAL INVESTMENTS PLC MEXICO MRNO:NASDAQ Filing 21 $2,286,513 0.0%
Jetking Infotrain Limited INDIA JETKINGQ:BSE Filing 21 $2,286,513 0.0%
Investview, Inc. USA INVU:OTCMKTS Filing 20.3 $2,210,296 0.0%
Thumzup Media Corporation USA TZUP:NASDAQ Filing 19.1 $2,079,638 0.0%
Bitcoin Well Inc. CANADA BTCW:TSXV Filing 19.1 $2,079,638 0.0%
BIT Mining Limited USA BTCM:NYSE Filing 19.1 $2,079,638 0.0%
MOGO Inc CANADA MOGO:Nasdaq Filing 18 $1,959,868 0.0%
Athena Bitcoin Global USA ABIT:OTCID Filing 17 $1,850,987 0.0%
Argo Blockchain PLC UNITED KINGDOM ARBKF:OTCMKTS Filing 11 $1,197,697 0.0%
Intesa Sanpaolo S.p.A Italy ISP.MI:BIT Filing 11 $1,197,697 0.0%
Intchains Group Limited CHINA ICG:NASDAQ Filing 10.3 $1,121,480 0.0%
SBC Medical Group Holdings, Inc. USA SBC:NASDAQ Filing 5 $544,408 0.0%
TeraWulf Inc. USA WULF:NASDAQ Filing 5 $544,408 0.0%
Green Minerals AS NORWAY GEM:OSE Filing 4 $435,526 0.0%
LEEF Brands, Inc. CANADA LEEF:CSE Filing 3.9 $424,638 0.0%
Banxa Holdings Inc CANADA BNXAF:OTCMKTS Filing 1.6 $174,210 0.0%
Advanced Blockchain AG GERMANY DE000A0M93V6:XETRA Filing 1.2 $130,657 0.0%
      Totals: 857,322 $93,346,573,446 4.082%


Countries & Governments that Own Bitcoin

Entity Country Filings & Sources # of BTC Value Today % of 21m
USA USA 207,189 $22,559,071,894 0.987%
China CHINA 194,000 $21,123,032,340 0.924%
UK UNITED KINGDOM 61,000 $6,641,778,210 0.29%
Ukraine UA 46,351 $5,046,771,505 0.221%
Bhutan BT 13,029 $1,418,618,496 0.062%
El Salvador SV Filing 6,089 $662,980,123 0.029%
Finland FI 1,981 $215,694,469 0.009%
Georgia GE 66 $7,186,186 0.0%
Germany GERMANY 0.0 $0 0.0%
    Totals: 529,705 $57,675,133,965 2.522%


Private Companies that Own Bitcoin

Entity Country Filings & Sources # of BTC Value Today % of 21m
Block.one HONGKONG Filing 140,000 $15,243,425,400 0.667%
Tether Holdings LTD HONGKONG Filing 100,521 $10,944,888,318 0.479%
Xapo Bank GI Filing 38,931 $4,238,869,958 0.185%
BitMEX SC Filing 36,794 $4,006,189,958 0.175%
Mt. Gox JAPAN Filing 34,164 $3,719,831,324 0.163%
River Financial Inc. USA Filing 20,817.3 $2,266,621,139 0.099%
The Tezos Foundation CH Filing 17,500 $1,905,428,175 0.083%
Lazarus Group NORTH KOREA Filing 13,518 $1,471,861,603 0.064%
Stone Ridge Holdings Group USA Filing 10,000 $1,088,816,100 0.048%
Massachusetts Mutual USA Filing 3,500 $381,085,635 0.017%
Lisk Foundation CH Filing 1,898 $206,657,295 0.009%
Strike USA Filing 1,500 $163,322,415 0.007%
Seetee AS NORWAY Filing 1,170 $127,391,483 0.006%
Cardone Capital USA Filing 1,000 $108,881,610 0.005%
Luna Foundation Guard SINGAPORE 313 $34,079,943 0.001%
Bitcoin Association Switzerland CH Filing 14.2 $1,546,118 0.0%
    Totals: 421,641 $45,908,898,392 2.008%


ETFs that Own Bitcoin

 
Entity Country Symbol:Exchange Filings & Sources # of BTC Value Today % of 21m
iShares Bitcoin Trust (Blackrock) USA IBIT:NASDAQ Filing 698,919.1 $76,099,436,867 3.328%
Fidelity Wise Origin Bitcoin Fund USA FBTC:CBOE Filing 203,508.5 $22,158,333,128 0.969%
Grayscale Bitcoin Trust USA GBTC:NYSE Filing 184,226.9 $20,058,921,477 0.877%
CoinShares / XBT Provider CH XBTE:NADQ Filing 48,466 $5,277,056,110 0.231%
ARK 21Shares Bitcoin ETF USA ARKB:CBOE Filing 48,265.0 $5,255,170,906 0.23%
Grayscale Bitcoin Mini Trust USA BTC:NYSE Filing 44,227.8 $4,815,594,070 0.211%
Bitwise Bitcoin ETF USA BITB:NYSE Filing 40,029.5 $4,358,476,407 0.191%
Purpose Bitcoin ETF CANADA BTCC:TSX Filing 25,284 $2,752,962,627 0.12%
3iQ CoinShares Bitcoin ETF CANADA BTCQ:TSX Filing 21,237 $2,312,318,751 0.101%
Vaneck Bitcoin Trust USA HODL:CBOE Filing 15,753.1 $1,715,222,890 0.075%
3iQ The Bitcoin Fund CANADA QBTCBV:TSX Filing 13,000 $1,415,460,930 0.062%
ETC Group Bitcoin ETP GERMANY BTCE:XETRA Filing 12,967.5 $1,411,922,277 0.062%
Bitwise 10 Crypto Index Fund USA BITW:OTCMKTS Filing 10,784 $1,174,179,282 0.051%
21Shares AG CH ABTC:SWX Filing 8,915.9 $970,777,546 0.042%
Hashdex Nasdaq Crypto Index ETF. BRAZIL HASH11:BVMF Filing 8,832 $961,642,379 0.042%
Grayscale Digital Large Cap Fund USA GDLC:OTCMKTS Filing 5,990.3 $652,233,508 0.029%
Valkyrie Bitcoin Fund USA BRRR:NASDAQ Filing 5,885.9 $640,866,268 0.028%
Invesco Galaxy Bitcoin ETF USA BTCO:CBOE Filing 5,292 $576,201,480 0.025%
Franklin Bitcoin ETF USA EZBC:CBOE Filing 5,242.2 $570,779,175 0.025%
VanEck Vectors Bitcoin ETN GERMANY VBTC:XETRA Filing 3,943 $429,320,188 0.019%
CI Galaxy Bitcoin Fund CANADA BTCX:TSX Filing 3,248 $353,647,469 0.015%
Fidelity Advantage Bitcoin ETF CANADA FBTC.CA:TSE Filing 3,018.7 $328,680,916 0.014%
Osprey Bitcoin Trust USA OBTC:OTC Filing 2,820 $307,046,140 0.013%
ChinaAMC Bitcoin ETF HONGKONG 3042.HK:HKEX Filing 2,382.9 $259,453,988 0.011%
Valour Bitcoin Zero ETP CANADA BTC0E.AS:OTC 2,000 $217,763,220 0.01%
Evolve Bitcoin ETF CANADA EBIT:TSX Filing 1,663 $181,070,117 0.008%
Bosera HashKey Bitcoin ETF HONGKONG 09008.HK:HKEX Filing 1,606.9 $174,961,859 0.008%
WisdomTree Bitcoin Fund USA BTCW:CBOE Filing 1,547.0 $168,439,850 0.007%
QR Assets BRAZIL QBTC11:BVMF Filing 1,496.4 $162,930,441 0.007%
Global X (EBTC) UNITED KINGDOM EBTC:CBOE Filing 1,346.4 $146,598,199 0.006%
Monochrome Bitcoin ETF UNITED KINGDOM IBTC:CBOE Filing 308 $33,535,535 0.001%
Bitwise Core Bitcoin ETP (BTC1) GERMANY BTC1:XETR Filing 307.0 $33,426,654 0.001%
Hashdex Bitcoin ETF USA DEFI:NYSE Filing 134.9 $14,688,129 0.001%
Jacobi FT Wilshire Bitcoin ETF GG BCOIN:XAMS Filing 25.0 $2,722,040 0.0%
      Totals: 1,432,674 $155,991,848,274 6.822%
 

Bitcoin Mining Companies that Own Bitcoin

The list below shows only Bitcoin mining companies.

 
Entity Country Symbol:Exchange Filings & Sources # of BTC Value Today % of 21m
Marathon Digital Holdings Inc USA MARA:NADQ Filing 49,179 $5,354,688,698 0.234%
Riot Platforms, Inc. USA RIOT:NADQ Filing 19,225 $2,093,248,952 0.092%
CleanSpark Inc USA CLSK:NASDAQ Filing 12,608 $1,372,779,338 0.06%
Hut 8 Corp CANADA HUT:NASDAQ Filing 10,264 $1,117,560,845 0.049%
HIVE Digital Technologies UNITED KINGDOM HIVE:NASDAQ Filing 2,201 $239,648,423 0.01%
BitFuFu, Inc. SINGAPORE FUFU:NASDAQ Filing 1,709 $186,078,671 0.008%
Bitdeer Technologies Group SINGAPORE BTDR:NASDAQ Filing 1,486.1 $161,808,960 0.007%
Canaan Inc. SINGAPORE CAN:NASDAQ Filing 1,466 $159,620,440 0.007%
Bitfarms Limited CANADA BITF:NASDAQ Filing 1,166 $126,955,957 0.006%
Core Scientific, Inc. USA CORZ:NASDAQ Filing 977 $106,377,332 0.005%
Cipher Mining USA CIFR:NASDAQ Filing 966 $105,179,635 0.005%
SOS Limited CHINA SOS:NYSE Filing 802.8 $87,410,156 0.004%
Alliance Resource Partners USA ARLP:NASDAQ Filing 513 $55,856,265 0.002%
Bit Digital, Inc. USA BTBT:NASDAQ Filing 417.6 $45,468,960 0.002%
Neptune Digital Assets CANADA NPPTF:OTCMKTS Filing 404 $43,988,170 0.002%
DMG Blockchain Solutions Inc. CANADA DMGGF:OTCMKTS Filing 350 $38,108,563 0.002%
The9 Limited CHINA NCTY:NASDAQ Filing 285 $31,031,258 0.001%
LM Funding America, Inc. USA LMFA:NASDAQ Filing 155 $16,876,649 0.001%
Digi Power X Inc. (Digihost) CANADA HSSHF:OTCMKTS Filing 123.3 $13,425,102 0.001%
London BTC Company Limited (Vinanz) VG VINZF:OTCQX Filing 65.0 $7,077,304 0.0%
Cathedra Bitcoin Inc. USA CBTTF:OTCMKTS Filing 52.5 $5,716,284 0.0%
SATO Technologies Corp. CANADA SATO:TSXV Filing 24 $2,613,158 0.0%
Sphere 3D Corp USA ANY:NASDAQ Filing 22.7 $2,471,612 0.0%
Investview, Inc. USA INVU:OTCMKTS Filing 20.3 $2,210,296 0.0%
Thumzup Media Corporation USA TZUP:NASDAQ Filing 19.1 $2,079,638 0.0%
BIT Mining Limited USA BTCM:NYSE Filing 19.1 $2,079,638 0.0%
Argo Blockchain PLC UNITED KINGDOM ARBKF:OTCMKTS Filing 11 $1,197,697 0.0%
TeraWulf Inc. USA WULF:NASDAQ Filing 5 $544,408 0.0%
      Totals: 104,536 $11,382,099,811 0.498%
 

Defi

Entity Country Filings & Sources # of BTC Value Today % of 21m
Wrapped Bitcoin   129,167.8 $14,063,998,024 0.615%
Coinbase Wrapped Bitcoin (cbBTC) USA Filing 24,712 $2,690,682,346 0.118%
The Mempool Open Source Project   Filing 5,010.7 $545,573,083 0.024%
The Liquid Network   Filing 3,754.9 $408,839,557 0.018%
Rootstock   Filing 2,834 $308,570,482 0.013%
tzBTC   Filing 850.6 $92,614,697 0.004%
    Totals: 166,330 $18,110,293,576 0.792%