Increase in institutional interest in Bitcoin: Over 240,000 BTC held by public companies and ETFs during Q2
In a significant development for the Bitcoin market, public companies have outpaced Exchange-Traded Funds (ETFs) in Bitcoin accumulation for three consecutive quarters, marking a notable shift in institutional investment trends.
One of the newcomers to this growing list is GameStop, a retail giant that approved the use of Bitcoin as a treasury asset in March 2025 and has since significantly increased its holdings. This strategic move is part of a broader trend among public companies, who are increasingly viewing Bitcoin as a long-term investment to boost shareholder value.
According to Nick Marie, chief researcher at Ecoinometrics, this shift is not driven by fleeting trends but a deep understanding of Bitcoin's strategic value. Public companies now hold around 855,000 BTC, which represents approximately 4% of the total 21 million bitcoins that will ever exist.
While ETFs offer passive exposure to Bitcoin's price, they do not accumulate BTC as a strategic reserve like public companies. ETFs added around 111,000 BTC in the second quarter of 2025, an 8% increase in the same period. However, the accumulation by public companies introduces a new layer of stability to the Bitcoin market, as these companies tend to hold their assets for the long term, dampening volatility.
Strategic, a public company led by Michael Saylor, has been at the forefront of this trend. In Q2 of 2025, the company acquired over $13 billion worth of bitcoins, representing a significant increase in their total reserves. Strategic now holds over 597,000 BTC, the most among public companies.
The incorporation of GameStop and other companies into the Bitcoin market reflects a change in mindset, where Bitcoin is no longer seen as a risky bet but as a strategic tool. This shift is driven by several key factors, including inflation hedging and treasury diversification, cross-border liquidity and digital finance alignment, formalized corporate strategy adoption, and growing institutional legitimacy and liquidity.
The increasing institutional participation in the Bitcoin market reduces the circulating supply of BTC, which could put upward pressure on its price. This trend suggests that Bitcoin may evolve from a highly speculative asset to a more stable component in diversified portfolios.
The implications of this shift are far-reaching. Institutional adoption tends to bring greater liquidity and reduced volatility, suggesting Bitcoin may become a more mainstream component in corporate finance. With public companies increasingly holding Bitcoin as a treasury asset, cryptocurrencies may become a standard part of corporate financial management, potentially encouraging broader market acceptance and adoption.
Moreover, institutional demand and regulatory developments could drive further price appreciation and market cap growth, attracting more participants and fostering innovation in related financial products like ETFs. The deepening institutional footprint may also prompt clearer regulatory frameworks and further financial infrastructure improvements, supporting long-term Bitcoin ecosystem sustainability.
In summary, the surge in institutional Bitcoin holdings, especially from public companies, is a testament to a maturation of the Bitcoin market with prospects for increased stability, mainstream adoption, and sustained growth. This trend underscores the growing recognition of Bitcoin's strategic value and its potential role as a cornerstone of financial strategies in the 21st century.
[1] Blockchain.com (2025). Q2 2025 Bitcoin Market Report. [online] Available at: https://www.blockchain.com/research/q2-2025-bitcoin-market-report
[2] Reuters (2025). Public Companies Embrace Bitcoin as Treasury Asset. [online] Available at: https://www.reuters.com/business/public-companies-embrace-bitcoin-treasury-asset-2025-06-01/
[3] CoinDesk (2025). BlackRock Increases Bitcoin Exposure by Billions. [online] Available at: https://www.coindesk.com/blackrock-increases-bitcoin-exposure-by-billions-2025-07-01/
[4] The Wall Street Journal (2025). Bitcoin's Institutional Appeal Grows. [online] Available at: https://www.wsj.com/articles/bitcoins-institutional-appeal-grows-11648547401
- The increase in Bitcoin holdings by public companies, such as GameStop and Strategic, indicates a growing interest in Bitcoin as a long-term investment in finance, moving beyond the realm of speculation and into strategic corporate finance and management.
- As more public companies, like GameStop and Strategic, adopt Bitcoin as a treasury asset, the technology-driven cryptocurrency may find its place in the mainstream financial markets, leading to a potential broadening of market acceptance and fostering innovation in related financial products like Exchange-Traded Funds (ETFs).
