Corporate treasuries increase crypto holdings despite ETF outflows
Public companies continue to expand their cryptocurrency reserves even as institutional capital flows out of US spot exchange-traded funds. Over the past week, BitMine and Strategy both increased their holdings of Ethereum and Bitcoin respectively, underscoring a divergence between corporate treasury strategies and ETF investor behavior.The accumulation comes during a period of heightened market volatility linked to geopolitical tensions and sustained outflows from crypto investment products. Despite broader caution among fund investors, several corporate buyers appear to be using price weakness to strengthen long-term positions.
BitMine advances its Ethereum accumulation strategy
BitMine, led by Tom Lee, purchased an additional 50,928 ETH over the past week, bringing its total holdings to approximately 4.47 million ETH. According to company disclosures, this represents about 3.71% of Ethereum’s circulating supply.The firm has described its long-term objective as acquiring 5% of total Ethereum issuance, referring to the strategy internally as the “five percent alchemy.” The scale of the position places BitMine among the most concentrated corporate holders of the asset.
Strategy records its 101st Bitcoin purchase
Strategy, chaired by Michael Saylor, executed its 101st Bitcoin acquisition, buying 3,015 BTC for approximately $204.1 million at an average price near $67,700 per coin. The purchase increased the company’s total Bitcoin reserves to 720,737 BTC.That figure represents more than 3.4% of Bitcoin’s fixed maximum supply of 21 million coins. Since August 2020, Strategy has spent about $54.77 billion building its position, with an average acquisition price of $75,985 per BTC.
ProCap expands its Bitcoin exposure
Anthony Pompliano’s ProCap Financial also added to its holdings, acquiring 450 BTC for roughly $35 million. The purchase lifted the firm’s total reserves to 5,457 BTC, ranking it among the 20 largest publicly disclosed corporate Bitcoin holders.The continued buying activity suggests that some treasury-focused companies view the current market environment as an opportunity rather than a signal to reduce exposure.
ETF outflows signal institutional caution
At the same time, capital has been exiting US spot Bitcoin and Ethereum ETFs. Over the past four months, investors withdrew more than $9 billion from these products, including approximately $6.39 billion from Bitcoin ETFs and $2.76 billion from Ethereum ETFs.The sustained withdrawals mark the longest stretch of net outflows since the launch of US spot crypto ETFs in January 2024. The trend reflects cooling institutional appetite following Bitcoin’s October peak above $126,000 and subsequent market correction.
The divergence between ETF flows and direct corporate accumulation highlights two distinct approaches to crypto exposure. While ETF investors have reduced positions amid volatility, treasury-focused companies such as Strategy, BitMine and ProCap continue to increase holdings, reinforcing their long-term commitment to digital assets despite short-term market turbulence.
Editorial Team - CoinBotLab
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