Global crypto treasuries have tripled year-on-year to reach $238.6 billion in September.
According to data presented by BestWallet.com, figures show the sharpest rise in corporate and institutional adoption of cryptocurrencies to date. In September 2024, the total stood at $72.6 billion.
By January 2025, the value more than doubled to $145.1 billion, despite a slowdown in the first quarter of the year. Growth resumed thereafter for six consecutive months, with treasuries climbing 228% from last September.
The Crypto Treasury Tracker from Sentora Research shows 324 entities now hold digital assets: 244 in Bitcoin, 75 in Ethereum, and 17 in Solana. Governments and large corporations predominantly hold Bitcoin, while crypto-native firms focus on Ethereum and startups are favouring Solana.
MicroStrategy remains the single largest holder with $72.1 billion in Bitcoin as of this month. The United States and China ranked second and third with $22.3 billion and $21.4 billion respectively. Other leading holders include Block.one and Tether Holdings.
On the Ethereum side, companies such as Immersion Technologies, SharpLink Gaming, The Ether Machine, and the Ethereum Foundation dominate holdings, underlining Ethereum’s central role in blockchain infrastructure.
Solana has become the preferred choice for early-stage technology and DeFi firms, with Forward Industries, DeFi Development Corp, and Upexi among the top holders.
Governments have emerged as significant players in the crypto treasury market. The US ($22.5 billion) and China ($21.4 billion) each hold 3.5 times more than Mara Holdings ($5.9 billion). The UK ($6.9 billion) and Ukraine ($5.2 billion) have overtaken listed mining companies including Riot Platforms ($2.2 billion) and CleanSpark ($1.4 billion).
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