Public Firms Snag 131,000 BTC, Surpassing ETFs In Bitcoin Purchases
Corporate treasuries have outpaced exchange-traded funds (ETFs) in Bitcoin acquisitions for three consecutive quarters, reflecting increased interest from public companies. In Q2, public companies acquired approximately 131,000 Bitcoin, an 18% increase, while ETFs secured about 111,000 Bitcoin, an 8% growth. Public companies focus on accumulating Bitcoin to enhance shareholder value, contrasting with institutional buyers using ETFs for varied exposure. Public company BTC holdings rose by 4% in April, compared to a 2% increase for ETFs. Despite this trend, ETFs remain the largest holders of Bitcoin, with over 1.4 million BTC, while public companies hold around 855,000 BTC. Notable companies entering the Bitcoin market include GameStop and KindlyMD. Strategy leads with approximately 597,000 Bitcoin, while smaller firms face challenges in competing. Predictions suggest a potential decline in the number of companies adopting BTC treasury strategies as the market matures and Bitcoin becomes more normalized.
