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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.
