For the Third Quarter Running, Public Companies Acquire More Bitcoin Than ETFs

Public Companies Continue to Outpace ETFs in Bitcoin Accumulation for Third Straight Quarter

More corporations are treating bitcoin (BTC) as a strategic asset, seeking growth beyond conventional investments.

Publicly listed firms have now surpassed U.S. exchange-traded funds (ETFs) in bitcoin purchases for a third consecutive quarter, according to CNBC.

From April through June, corporate treasuries grew their bitcoin holdings by about 18%, acquiring around 131,000 BTC. Meanwhile, ETFs increased their holdings by roughly 8%, adding close to 111,000 BTC, based on figures from Bitcoin Treasuries.net.

Even with the recent uptick in corporate buying, ETFs remain the largest collective holders of bitcoin, with over 1.4 million BTC under management. That represents approximately 6.8% of bitcoin’s maximum supply of 21 million coins, CNBC reports.

The last time ETFs outpaced corporate buyers was in the third quarter of 2024, prior to Donald Trump securing his reelection. In April 2025, despite volatility spurred by Trump’s new tariff policies, public companies expanded their bitcoin holdings by 4%, outpacing the 2% growth seen in ETF holdings, according to CNBC.