Digital Asset Treasury Companies Pour $42.7B Into Crypto in 2025, $22.6B Spent in Q3 Alone

Digital Asset Treasury Companies (DATCos) have deployed at least $42.7 billion in crypto acquisitions so far in 2025. Interestingly, more than half of that amount was spent in the third quarter alone, when DATCos collectively acquired $22.6 billion worth of digital assets. Q3 2025 has therefore been the strongest quarter on record for DATCo ￰0￱ DATCos Dominate In its latest analysis, CoinShares revealed that altcoin-focused DATCos represented $10.8 billion of this Q3 spending, or 47.8% of the total. However, despite the rise of altcoin treasury strategies, Bitcoin-focused DATCos still lead the market by a wide ￰1￱ DATCos have purchased at least $30.0 billion worth of BTC since the beginning of 2025, and accounted for 70.3% of all aggregate DATCo crypto purchases this ￰2￱ DATCos were the second-largest group by acquisition ￰3￱ fact, at least $7.9 billion was spent on ETH in ￰4￱ of that ETH spending, with at least $7.1 billion, took place in ￰5￱ assets, including SOL, BNB, WLFI, and various smaller-cap assets, accounted for 11.2% of purchases in ￰6￱ expects this share to rise as more altcoin-centric DATCos begin deploying ￰7￱ with this altcoin expansion, Bitcoin and Ethereum remain the dominant assets held by corporate digital asset ￰8￱ Leads DATCos Strategy is currently the largest DATCo by crypto holdings, reporting $70.7 billion in BTC on its books, which represents roughly half of all DATCo-owned digital ￰9￱ firm alone holds 3.05% of the total Bitcoin supply in circulation.

Meanwhile, BitMine Immersion, Sharplink, and Forward Industries are the only altcoin-focused DATCos in the top 15 by holdings, and all three entered the category only after June ￰10￱ total, seven pure play DATCos are among the top 15, and only three crypto mining companies make the top ￰11￱ the five companies with corporate crypto reserves that are also in the top 15, four are crypto-related businesses, with Tesla the sole ￰12￱ total number of DATCos has expanded from just four in January 2020 to 142 in October 2025.76 of them were formed this year ￰13￱ 8 Mining Corp was the first DATCo, back in November ￰14￱ later became the first pure play DATCo in August ￰15￱ DATCo holdings reached $137.3 billion at the end of October 2025, up 139.6% ￰16￱ the 142 DATCos, 113 hold BTC, while only 15 hold ETH and 10 hold SOL.