In the first half of the year, listed companies purchased a total of 245,510 bitcoins, more than twice the amount purchased by ETFs during the same period

According to ChainCatcher news reported by Cryptoslate, in the first half of 2025, publicly listed companies purchased a total of 245,510 bitcoins, more than double the amount purchased by ETFs during the same period (118,424 BTC).

The figures from the beginning of this year represent a 375% increase compared to the 51,653 BTC purchased by enterprises in the first half of 2024. In contrast, ETF purchases decreased by 56%, with ETFs having purchased as much as 267,878 BTC at the beginning of 2024 when they were launched.

Since each share of an ETF is backed by actual bitcoins, the number of shares created typically reflects demand from retail investors, hedge funds, and registered investment advisors. In contrast, corporate purchases of bitcoins reflect direct strategic decisions made by management. Therefore, the widening gap indicates that boards of directors are increasingly confident in bitcoin as a reserve asset, rivaling the enthusiasm of retail and institutional investors.

Among them, the company "Strategy" alone purchased 135,600 BTC, accounting for 55% of all purchases made by publicly listed companies. In the same period of 2024, this company accounted for 72% of total corporate bitcoin purchases. This indicates that by 2025, corporate demand for bitcoin is no longer concentrated in a single leading company but has significantly diversified.