Last week, global publicly listed companies experienced explosive growth in their allocation to crypto assets, with the total disclosed investments and financing exceeding $1 billion in a single week, setting a new high for this phase. Driven by institutional funds, the allocation direction also showed a clear trend of diversification: Bitcoin remains the core asset, but emerging public chains like Ethereum and Solana, as well as new asset categories such as LINK, DOGE, and SHIB, are also favored, indicating that traditional capital is fully testing the multi-layered structure of the crypto ecosystem.
Bitcoin Remains the Core Allocation
As the cornerstone of digital assets, Bitcoin continues to be the preferred choice for institutional allocation. Several publicly listed companies increased their BTC holdings over the past week, further solidifying the consensus around it as "digital gold."
Japan's Metaplanet Inc. (TSE: 3350) increased its holdings by 180 BTC, bringing its total to 21,980 BTC, continuing its "MicroStrategy-like" strategy. Crypto mining company HIVE Blockchain Technologies Ltd. (CVE: HIVE) added 420 BTC through mining, raising its total holdings to 4,270 BTC.
Smaller companies are also attempting treasury allocations. CDT Equity Inc. (NASDAQ: CDT) invested $1 million to purchase 8.65 BTC at an average price of $115,285, showing that even companies with limited scale are willing to enter at high levels. H100 Group (NGM: H100) also added 21 BTC, pushing its total holdings over the thousand mark.
In the Asian market, Boya Interactive (HKEX: 00434) purchased 245 BTC in mid-September, investing approximately HKD 219 million (equivalent to $28.16 million), continuing to advance its Bitcoin reserve strategy. The "Bitcoin king" in the U.S., MicroStrategy Incorporated (NASDAQ: MSTR), bought 2,150 BTC at an average price of $115,200, spending a total of $247.6 million, with total holdings now at 640,555 BTC. Meanwhile, France's Capital B (OTC: CPTLF) and Japan's Remix Point (TSE: 3825) also increased their holdings by 48 and 77 BTC, respectively.
Overall, last week saw new capital inflows into Bitcoin exceeding $300 million, further consolidating its "absolute core" position in the crypto asset treasury.
ETH and Emerging Public Chains Shine
If Bitcoin is the ballast of corporate treasuries, then Ethereum and emerging public chains are becoming their "growth assets." Last week, several companies made noteworthy moves.
U.S. insurtech company Reliance Global Group (NASDAQ: RELI) completed its first ETH purchase and plans to invest $120 million in phases, aiming to build a portfolio that includes Bitcoin, Ethereum, and Solana. This strategy sends a strong signal: even traditional companies without tech attributes are beginning to recognize the potential application value of Ethereum and public chains.
Silo Pharma Inc. (NASDAQ: SILO) disclosed the purchase of 1,200 ETH and 18,000 SOL, with a total investment of $5.8 million, marking its first allocation of emerging assets in its treasury. On the other hand, SharpLink Gaming Ltd. (NASDAQ: SBET) and Fundamental Global Inc. (NASDAQ: FGF) expanded their ETH yields through staking operations, with the former staking 50,000 ETH in Lido Finance and the latter increasing its staking to 35,000 ETH, generating approximately 100 ETH in monthly returns.
In the Solana ecosystem, the inflow of funds is also significant. Forward Industries (NASDAQ: FORD) added 780,000 SOL through Galaxy Digital, with an investment scale of $186 million, becoming one of the largest public chain allocations last week. Bit Mining Ltd. (NYSE: BTCM) also increased its holdings by 25,000 SOL, raising its total to 69,000 SOL.
Notably, the representative company of the Ethereum reserve model, BitMine (NASDAQ: BMNR), continued to significantly increase its holdings, purchasing an additional 15,427 ETH (worth approximately $6.918 million) through Galaxy Digital, bringing its total holdings to 1.946 million ETH, valued at over $8.7 billion. BitMine's strategy further establishes the benchmark significance of "ETH treasuryization."
Overall, the inflow of funds into ETH and SOL has exceeded $300 million, highlighting that emerging public chains are gradually entering the "core allocation layer" of corporate treasuries.
Meme Coin Craze Continues
In addition to mainstream public chains, meme assets have also become a new highlight in corporate treasuries. CleanCore Solutions Inc. (NYSE: ZONE) increased its holdings by 80 million DOGE within a week, raising its total to 680 million DOGE, with a market value of approximately $16.3 million, and further increasing to 750 million DOGE, demonstrating its strategic determination to "fully bet on Dogecoin."
Esports company GameSquare Holdings Inc. (NASDAQ: GAME) made its first purchase of 250 million SHIB (worth approximately $6.2 million), indicating that meme coins are gradually entering the asset lists of some companies' treasuries. Although they are highly volatile, their high liquidity and community effects are significant factors attracting funds.
Other Assets and Strategic Adjustments
In terms of other asset allocations, Caliber (NASDAQ: CWD) completed multiple LINK purchases, cumulatively increasing its holdings to 353,011 LINK, with a total market value of approximately $670,000, making it one of the few publicly listed companies to invest in decentralized oracles.
Meanwhile, Hyperscale Data (NYSE: GPUS) announced it would sell its existing XRP holdings and fully transition to a pure Bitcoin treasury strategy, indicating that some companies have chosen to return to a "single main line" after diversifying.
Israel's ZOOZ Power (TASE: ZOOZ) approved a fundraising of $180 million through a special shareholders' meeting, with 95% to be directly used for purchasing Bitcoin. Such direct financing and investment in BTC cases are providing new funding sources for the Bitcoin treasury model.
Capital Flows and Trend Analysis
In summary, last week, the total disclosed investments and financing in crypto assets by publicly listed companies exceeded $1 billion, with Bitcoin remaining the most concentrated direction for funds, accounting for over 30%; ETH and emerging public chains like Solana are rapidly catching up, becoming the second tier of institutional focus; meme coins and oracle assets reflect a "trial" allocation.
This pattern reflects two trends:
Accelerated Treasury Diversification: In the past, companies often allocated solely to Bitcoin, but now ETH, SOL, LINK, DOGE, and others are entering the treasury list, making asset portfolios closer to "fund-like allocations."
Clear Strategic Differentiation: Some companies are actively increasing their allocations to diversified assets, while others (like Hyperscale Data) choose to return to a single BTC strategy, showing differences in risk and return judgments among different companies.
As the institutionalization process of the crypto market accelerates, the crypto treasury model of publicly listed companies may shift from early exploration to "systematic layout." Last week's $1 billion capital inflow, while not reaching the market's exaggerated "tens of billions scale," is sufficient to prove that institutional funds are entering the crypto world at an unprecedented speed.
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