Digital Asset Treasury Companies Allocate $42.7 Billion to Crypto by 2025

Digital Asset Treasury Companies (DATCos) have invested at least $42.7 billion in cryptocurrency acquisitions so far in 2025. Notably, more than half of this total was expended during the third quarter, which saw DATCos collectively acquire $22.6 billion worth of digital assets.

Record Quarter for DATCos

The third quarter of 2025 has proven to be the most robust for DATCo accumulation thus far.

Bitcoin Remains a Focus

In its recent findings, CoinShares reported that altcoin-focused DATCos accounted for $10.8 billion of the Q3 spending, comprising about 47.8% of the total. Despite the growing interest in altcoin treasury strategies, Bitcoin-focused DATCos still dominate the market significantly.

Bitcoin DATCos have bought roughly $30.0 billion worth of BTC since the start of 2025, representing 70.3% of all DATCo crypto purchases this year. Meanwhile, Ethereum-focused DATCos were the second-largest category in terms of spending, with at least $7.9 billion allocated to ETH in 2025, much of which took place in August.

Other cryptocurrencies, such as SOL, BNB, WLFI, and various smaller-cap assets, made up 11.2% of purchases this year. This share is likely to grow as more altcoin-centric DATCos start deploying funds.

Despite the expansion into altcoins, Bitcoin and Ethereum remain the primary assets in corporate digital asset treasuries.

Market Leaders

Strategy is currently the largest DATCo by crypto holdings, reporting an impressive $70.7 billion in BTC, which forms about half of all DATCo digital assets. This company holds about 3.05% of the total Bitcoin supply in existence.

In conclusion, BitMine Immersion, Sharplink, and Forward Industries are the only altcoin-focused DATCos in the top 15 by holdings, all of which entered the category after June 2025. In total, the number of pure-play DATCos has increased from only four in January 2020 to 142 in October 2025. This year alone, 76 new DATCos emerged.