Corporate Bitcoin Treasury Holdings Hit 1.2 Million In Q3 2025: Institutional Demand Shows No Signs of Slowing Down

Crypto asset manager and ETF issuer Bitwise reported that the number of public companies holding Bitcoin in their treasuries rose nearly 40% in the third quarter of 2025 (June – September), signifying that institutional players are “doubling down, not backing away” from the digital gold.

According to the firm’s Q3 Corporate Bitcoin Adoption Report, 172 publicly traded companies now hold a total of 1.02 million BTC, worth over $118 billion at current market rates. The report, citing BitcoinTreasuries data, also shows that 48 new digital asset treasury (DAT) firms were formed in the previous quarter.

Public Companies Increase Bitcoin Holdings by 28% in Q3 2025, Adding 193,000 BTC to Their Balance Sheets

Bitwise noted that the value of corporate holdings had risen 28% quarter-over-quarter, with the total number of bitcoins in reserves representing 4.87% of the 21 million coin total supply.

A closer examination of the data revealed that public companies were the most aggressive buyers, adding over 193,000 BTC ($21.81 billion) to their balance sheets – a 20.6% increase from Q2 2025. They also outpaced adoption growth in other sectors, such as private firms and exchange-traded funds (ETFs), which saw increases of 2.21% and 6.7%, respectively, in bitcoin accumulation.

Strategy, formerly MicroStrategy, is by far the largest Bitcoin treasury company, with 640,031 BTC, valued at $72.29 billion, in its coffers. The Michael Saylor-founded firm’s latest purchase came on October 6, when it added 220 BTC for $27.2 million. Meanwhile, bitcoin miner MARA Holdings is the second-largest publicly traded crypto treasury firm, holding 53,250 BTC, worth $6.021 billion. XX1 (43,514 BTC), Metaplanet Inc. (30,823 BTC), and Bitcoin Standard Treasury (30,021 BTC) make up the top 5 publicly-listed corporate treasuries list.

Spot Bitcoin ETFs Record $48.7 Billion Net Inflow YoY, Signaling Deepening Adoption by Traditional Investors

Meanwhile, institutional demand for Bitcoin remains strong, as the spot Bitcoin ETFs registered $2.67 billion inflows last week, amounting to 85% of the $3.17 billion total inflow for crypto investment products. This has pushed the year-to-date inflow total for BTC-backed funds to a record $48.7 billion, with BlackRock’s iShares Bitcoin Trust leading the chart with 804,944 BTC ($90.96 billion), followed by Fidelity Wise Origin Bitcoin Fund with 207,151 BTC ($23.39 billion), and Grayscale Bitcoin Trust ETF holding 177,952 BTC ($20.06 billion) in assets under management.

Bitcoin exchange-traded funds are opening the door for more traditional retail and institutional investors to gain exposure to the crypto market through regulated vehicles. Rachel Lucas, an analyst at Australian cryptocurrency exchange BTC Markets, said this marks a significant shift and a major step toward mainstream adoption of digital assets. She also noted that these developments are a “clear signal” that institutional Bitcoin adoption is “deepening”.

Gracy Chen, CEO of Bitget exchange, said in an interview with crypto media outlet Decrypt that the growing wave of public and private companies increasing their Bitcoin holdings is a part of a “broader strategic shift”, and that it is not just a “hedge against inflation” but a long-term bet on digital assets as a core treasury reserve. 

She attributed this growth to a supportive regulatory climate for crypto assets, especially in the United States under the Trump administration, where reforms such as the U.S Strategic Bitcoin Reserve announcement, the passage of the GENIUS Act for stablecoins, and the Securities and Exchange Commission (SEC) classifying crypto assets as commodities and updating its generic listing standards for commodity-based trust shares have improved investor sentiment and confidence.

Institutional Bitcoin Buys Could Lead to Supply-Demand Imbalance and Price Increase in the Medium-Long Term

Meanwhile, Edward Carroll, head of markets at blockchain investment firm MHC Digital Group, told Cointelegraph that Bitcoin treasury accumulation is still in its early stages, and the surge in institutional interest would likely cause a “supply and demand imbalance”, which should put “upward pressure” on its price action in the medium-long term. He believes that as a result, demand for Bitcoin will be “ordered and increasing” over the coming years, resulting in its decoupling from a correlation to risk sentiment as institutional demand picks up.

On average, miners generate roughly 900 BTC per day; however, in its September report, Bitcoin financial services company River discovered that businesses are acquiring an estimated average of 1,755 BTC per day in 2025.

Despite the near-term volatility, analysts have characterized the recent sell-off as a “recalibration” event that was driven by geopolitical tensions rather than a failure of the underlying bullish market thesis. Peter Chung, head of research at Presto Research, told Decrypt that, unlike retail traders with a short-term outlook, institutions invest based on a longer-range horizon, and the ongoing trade war between the U.S. and China is unlikely to impact their decisions.

The accumulations made by public firms are funded by security issuance on the public market, and they will continue to stockpile Bitcoin as long as there is appetite for their securities among investors.

At the time of writing, Bitcoin (BTC) is trading at $112,483 – up 0.99% in 24 hours.