Institutional interest in Bitcoin continues to rise. For the third consecutive quarter, public companies are purchasing more Bitcoin than exchange-traded funds (ETFs).
Rise in Bitcoin Purchases by Public Companies
According to Bitcoin Treasuries data, public companies acquired approximately 131,000 BTC in the second quarter of 2025, increasing their total assets by 18%. ETFs, on the other hand, purchased 111,000 BTC with an 8% growth.
Differences in Investment Approaches
Nick Marie, research director at Ecoinometrics, points out that companies accumulate BTC to enhance shareholder value. 'These companies are more focused on the amount of BTC in their vaults than on the price level,' he stated. He also noted that public companies increased their Bitcoin holdings by 4% in April, while this increase in ETFs was at just 2%.
Outlook and Implications of Current Trends
This trend coincides with regulatory easing seen during the Trump administration. Some companies have started to actively invest in Bitcoin: GameStop adopted it as a reserve asset, KindlyMD merged with Bitcoin investment firm Nakamoto, and ProCap launched its own BTC purchasing program. However, Marie believes this trend may not be long-lasting: 'After 10 years, the number of companies adhering to this strategy may decrease.'
Thus, public companies' interest in Bitcoin continues to rise, which may signal changes in the market. Investors remain keen on promising investment opportunities, but the future of this strategy may change over time.
