Public Firms and ETFs Acquired Over 240K BTC in Q2 2025: Report

In the second quarter of 2025, public companies and exchange-traded funds (ETFs) collectively acquired over 240,000 bitcoin. This marks continued strong demand amid changing market dynamics and regulatory conditions.

Public companies acquired about 131,000 coins in the second quarter, growing their bitcoin balance 18%, according to data provider Bitcoin Treasuries. ETFs showed an 8% increase or about 111,000 BTC in the same period.https://t.co/Nyiquq8Ync

— Michael Saylor (@saylor) July 1, 2025

Notably, public firms bought around 131,000 BTC, raising their holdings by 18% in just three months. At the same time, U.S. spot ETFs added approximately 111,000 BTC, an 8% increase.

Public Companies Lead Bitcoin Buying

April 2025 was a turbulent month for markets following tariff announcements by President Donald Trump. During this time, public companies increased their bitcoin reserves by 4%, while ETFs saw a smaller 2% rise.

Experts say the motives behind these purchases differ between public companies and ETFs. Public firms primarily accumulate bitcoin to increase shareholder value over the long term.

According to Nick Marie, head of research at Ecoinometrics, public companies tend to focus less on bitcoin’s short-term price fluctuations. Instead, they aim to steadily grow their bitcoin treasury, making their stock more attractive to shareholders and proxy voters.

Meanwhile, ETFs offer exposure to institutional investors with diverse objectives. Notably, Bitcoin ETFs remain the largest single holders of bitcoin among entities.

Together, these ETFs hold over 1.4 million coins, about 6.8% of the total 21 million bitcoin supply. Public companies are gradually closing the gap, holding roughly 855,000 BTC, or 4% of the fixed supply.

The trend follows regulatory easing under the Trump administration, which has boosted confidence in bitcoin’s long-term role. The eased regulations motivate public companies to consistently grow their bitcoin holdings over time.

Expanding Institutional Adoption of BTC

New entrants joined the bitcoin accumulation trend in Q2 2025, signaling growing institutional interest. For instance, GameStop began buying BTC after its board approved it as a treasury asset. Similarly, KindlyMD merged with Nakamoto, a bitcoin investment firm, further expanding corporate involvement.

Investor Anthony Pompliano’s ProCap launched its bitcoin buying program and is preparing to go public through a SPAC. Meanwhile, MicroStrategy, recently rebranded as Strategy, remains the largest corporate holder with about 597,000 bitcoin.

Following Strategy, bitcoin miner Mara Holdings holds close to 50,000 coins. Over 140 public companies now follow this strategy, reflecting a broader institutional shift toward bitcoin as a treasury asset.

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