Corporate Treasuries Fuel Crypto Surge

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DeFi

08/09/2025

Digital asset treasuries fuel crypto’s rally and its risks.
New DATs are purchasing XRP, SOL, and even smaller coins like HYPE and ENA.
WLFI’s first week of trading in data.

Corporate Treasuries Fuel Crypto Surge

Digital asset treasury (DAT) companies have emerged as key drivers of the crypto markets this year, accumulating large reserves of Bitcoin, Ethereum, and an expanding basket of altcoins. Their steady purchases have not only supported spot prices but have also shaped volatility patterns across the market.

The most prominent example is Strategy (MSTR). In less than nine months, the company has added 190,000 BTC, bringing its total holdings to 636,505 BTC. At this pace, MSTR is on track to match its record 2024 Bitcoin purchases.

But it’s not just Bitcoin. Firms like BitMine and SharpLink have also been building large ETH treasuries, helping to drive ETH’s rally to new highs. New DATs are purchasing XRP, SOL, and even smaller coins like HYPE and ENA.

Data Used In This Analysis

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08/09/2025 Data Debrief
Corporate Treasuries Fuel Crypto Surge
Digital asset treasury companies are powering crypto’s rally this year as firms like Strategy, BitMine, and Metaplanet steadily accumulate Bitcoin, Ethereum, and altcoins. Their persistent buying is supporting spot prices, attracting new investors, and fueling the rapid growth of listed crypto-treasury firms, especially across APAC.

Written by The Kaiko Research Team
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Written by The Kaiko Research Team
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