Public Companies Buy More Bitcoin Than ETFs for Third Consecutive Quarter

Publicly traded companies are rapidly building bitcoin (BTC) reserves, buying more of the largest cryptocurrency than U.S. exchange-traded-funds (ETF) for the third straight quarter, according to CNBC.

Corporations increased their bitcoin holdings by about 18% in the three months ended June 30, adding roughly 131,000 BTC. The ETF holdings grew 8%, or around 111,000 BTC, based on figures from Bitcoin Treasuries.net.

ETFs still hold the largest stash of bitcoin among single entities, with over 1.4 million BTC, which makes up about 6.8% of bitcoin’s capped supply of 21 million, according to CNBC.

The last time ETFs surpassed public companies in bitcoin buying was back in third-quarter 2024, before U.S. President Donald Trump secured reelection. In April 2025, despite market volatility from Trump’s tariff announcements, public companies expanded their bitcoin holdings by 4% outpacing the 2% growth seen among ETFs, according to CNBC.