A new report from Galaxy Research, titled “The Rise of Digital Asset Treasury Companies,” highlights a major shift in corporate finance. Publicly traded companies are increasingly holding cryptocurrencies on their balance sheets, not as a speculative bet, but as a core strategy. These firms, known as Digital Asset Treasury Companies (DATCOs), collectively hold over $100 billion in digital assets, with a strong focus on Bitcoin and Ethereum.
According to the report, DATCOs control around 791,662 BTC (worth approximately $93 billion) and 1.31 million ETH (valued at about $4 billion). These holdings represent a significant portion of both Bitcoin’s and Ethereum’s total supply, demonstrating how digital assets have become a core part of corporate capital deployment. While Bitcoin remains the primary asset, many DATCOs are also exploring Ethereum and other Layer-1 tokens, using staking to generate passive income from their holdings.
DATCOs use strategic methods to acquire these assets, such as at-the-market (ATM) equity programs and private placements. This has allowed some firms to build substantial unrealized gains. While the U.S. is the main hub for this activity, the trend is expanding globally. The report also notes potential risks, such as a sharp drop in equity premiums or regulatory changes, which could force asset sales. A key concern is that investors are often paying a significant premium for these companies’ shares compared to the actual value of their crypto holdings, which could indicate a potential market bubble.
August 2025, Cryptoniteuae
