As Bitcoin and digital assets gain mainstream credibility, a new wave of publicly traded companies is turning to crypto treasury strategies – not just to hedge inflation, but to position themselves as forward-thinking leaders in a changing financial landscape.
Since MicroStrategy’s first buy in 2020, over 40 public companies have added Bitcoin or other digital assets to their balance sheets. What began as a bold experiment is now a growing trend across sectors – from real estate to gaming to political media.
Here are 10 publicly listed companies (outside of MicroStrategy) making bold moves in crypto treasury management – across Nasdaq, Tokyo Stock Exchange, and beyond.
1. SharpLink Gaming (NASDAQ: $SBET) – Joe Lubin’s Ethereum Bet
Treasury: 10,000 ETH
Recent Moves:
Acquired ETH directly from the Ethereum Foundation
Actively staking to earn validator rewards and support ecosystem infrastructure
Why It Matters:
First Ethereum-native public treasury model
Backed by Ethereum co-founder Joe Lubin
Sets a new precedent for alternative crypto treasury models beyond Bitcoin
2. MetaPlanet Inc. (TSE: 3350.T) – Japan’s Bitcoin Juggernaut
Treasury: 16,352 BTC
Recent Moves:
Buying BTC weekly
Secured 12.9% investment from Fidelity, strengthening institutional support
Why It Matters:
Currently the 5th-largest corporate BTC holder globally
Asia’s most aggressive public Bitcoin strategy
Signifies rising institutional interest in BTC in Japan and beyond
3. Bakkt Holdings (NYSE: $BKKT) – ICE’s Crypto Ambition
Treasury: None…yet
Recent Moves:
Filed a $1B shelf registration to purchase Bitcoin and other digital assets
Updated investment policy to include crypto holdings
Acquired bitcoin.kr, signaling global crypto infrastructure ambitions
Why It Matters:
Subsidiary of Intercontinental Exchange (parent of NYSE)
Clear regulatory intent to adopt a Bitcoin treasury
Could serve as a major institutional gateway for BTC reserves
4. DeFi Technologies Inc. (NASDAQ: $DEFT) – Diversified Digital Asset Treasury on Nasdaq
Treasury: ~209 BTC, plus SOL and CORE DAO tokens
Recent Moves:
Transitioned listing from Cboe Canada to Nasdaq in 2024
Earns: ~6.5% APY by staking BTC non-custodially via CORE Chain (Satoshi Plus consensus)
Diversifying: Actively expanding treasury holdings across DeFi-native tokens including SOL and CORE DAO
Why It Matters:
One of the first DeFi-native firms listed on Nasdaq with an actively managed, yield-generating crypto treasury
Strategy: Combines long-term crypto reserve holdings with non-custodial staking and passive yield strategies
Impact: Bridges traditional capital markets with on-chain financial infrastructure and decentralized yield models
5. Murano Global Investments (NASDAQ: $MRNO) – Real Estate Meets Bitcoin
Treasury: 21 BTC (and growing)
Recent Moves:
Closed a $500M standby equity facility for BTC purchases
Joined the Bitcoin for Corporations alliance
Why It Matters:
Among the first hospitality and real estate firms to adopt a BTC treasury
Proves that Bitcoin adoption is expanding beyond fintech and tech companies
Offers a diversified case study for traditional asset-heavy businesses entering crypto
6. Hyperion DeFi (NASDAQ: $HYPD) – HYPE Treasury with Real Infrastructure
Treasury: Approximately 1.43 million HYPE tokens (total holdings)
Recent Moves:
Acquired an additional 120,726 HYPE tokens, growing its total to 1,427,178 HYPE (roughly $5M at approximately $35.38/token)
Rebranded from Eyenovia and relaunched as Hyperion DeFi effective July 3, 2025
Preparing for a Binance Wallet bonding-curve TGE for its RION token, launching July 16, 2025
Why It Matters:
Now holds the largest HYPE treasury among public U.S. firms
Generates yield via staking mechanisms (e.g., HyperCore, HyperEVM)
7. Nakamoto Brands (via KindlyMD merger) (Expected: NASDAQ listing post-merger) – Bitcoin-Native Public Vehicle
Treasury: ~$500M in escrowed BTC
Recent Moves:
Raised $51.5M in PIPE funding (part of a $710M round)
Partnered with Anchorage Digital for secure custody
Why It Matters:
Purpose-built for institutional and retail exposure to Bitcoin
Provides a regulated, equity-based on-ramp to BTC holdings
Part of a new class of treasury-first, BTC-native public companies
8. DeFi Development Corp. (NASDAQ: $DFDV) – Tokenizing Wall Street, Staking on Solana
Treasury: Over 600,000 SOL, plus liquid staking positions
Recent Moves:
Formerly Janover Inc., the company rebranded and began trading as $DFDV on Nasdaq in May 2025
Partnered with Kraken and xStocks to tokenize its public shares on the Solana blockchain under the ticker DFDVx
Operates validator and staking infrastructure on Solana, earning recurring on-chain revenue from its treasury assets
Why It Matters:
One of the first U.S. public companies to tokenize its own stock
Combines traditional equity structure with a live, yield-generating DeFi treasury
A bold example of how public companies can bridge capital markets and blockchain utility
9. Trump Media & Technology Group (NASDAQ: $DJT) – Crypto x Culture x Politics
Treasury Plan: $2.3–2.5B in BTC, ETH, SOL, XRP, CRO
Recent Moves:
Filed for a “Truth Social Crypto ETF” backed by digital assets
Announced a $400M share buyback, separate from treasury funds
Working with Crypto.com and Anchorage as custodians
Why It Matters:
Combining political narrative, social media virality, and crypto finance
Largest proposed crypto treasury allocation among non-financial public firms
A cultural and financial wildcard that could influence policy and public adoption
10. GameStop Corp. (NYSE: $GME) – Retail Rebellion Goes Bitcoin
Treasury: 4,710 BTC (~$512M)
Recent Moves:
Raised $2.25B in convertible notes
Exploring Bitcoin as a strategic inflation hedge
Considering crypto payments for collectibles and gaming products
Why It Matters:
The original meme stock embracing hard-money principles
Represents a consumer-facing brand pivoting into Web3
Could influence more retail-driven companies to follow
Summary
This isn’t just about holding Bitcoin or Ethereum; it’s about how public companies are redefining financial resilience, diversification, and innovation.
From Nasdaq to Tokyo, these companies are turning crypto from a speculative asset into a strategic reserve – staking, yielding, building, and holding in ways that speak to the future of finance.
