Study Finds Wall Street Treasury Buyers Purchase $49.7B Worth of Bitcoin and Ethereum
Wall Street has seen a significant surge in cryptocurrency investment, with Digital Asset Treasury Companies (DATCos) purchasing nearly $50 billion of crypto assets in 2025. This influx of investments has allowed DATCos to control over 5% of the circulating supply of Bitcoin and Ethereum, marking a substantial increase in their market influence.
CoinGecko’s 2025 Annual Crypto Industry Report revealed that DATCos collectively held around $134 billion worth of digital assets at the beginning of 2026, representing a substantial 137.2% increase from the previous year. Throughout 2025, these companies deployed a minimum of $49.7 billion to acquire a significant portion of the total BTC and ETH supply. Notably, a considerable amount of this buying activity was concentrated in the third quarter.
The report highlighted that out of the 142 DATCos, 113 firms hold Bitcoin as a treasury asset, with 15 holding Ethereum and only 10 holding Solana. Major players in this space include companies like Strategy (MSTR), which acquired 221,877 Bitcoin in 2025, Tesla (TSLA) with 1789 BTC purchases, Metaplanet (JPY) with 35,102 BTC positions, and Marathon Digital (MARA) which bought 8357 BTC. The total crypto holdings for various DATCos amounted to $137.3 billion by the end of October 2025.
While Bitcoin acquisitions dominated, Ethereum and Solana purchases were also notable, especially by industry leaders like Galaxy Digital (GLXY) and Forward Industries. CoinGecko regarded the growing influence of DATCos in the cryptocurrency market as a structural shift, particularly for assets like Bitcoin and Ethereum with limited supply. The report emphasized that despite price fluctuations in 2025, treasury accumulation continued to rise, although it briefly dropped to $5.8 billion at one point, affecting the share prices of DATCos.
In addition to the increased activity by treasury buyers, the role of stablecoins in the crypto market also expanded significantly in 2025. Stablecoins accounted for 10.37% of the $3 trillion total crypto market capitalization, reaching a market value of $311 billion. This growth in stablecoin adoption and liquidity has played a crucial role in the evolving landscape of the cryptocurrency market.
The findings from CoinGecko’s report shed light on the evolving dynamics of the cryptocurrency market, where the influence of Wall Street Treasury buyers and stablecoins continues to grow. As these trends persist, it is evident that traditional financial institutions and alternative financial instruments will play an increasingly significant role in shaping the future of the crypto economy.
