Crypto18 September, 20263 min read
U.S. Corporate Treasuries Buy Just 5,900 Bitcoin in Three Months, Glassnode Data Shows
This article is an automated aggregation of coverage from news outlets. Our editorials offer in-depth analysis curated by the NewsCord team.
Publicly traded companies bought about 5,900 BTC in the last three months. Purchases far below last year's pace; StrategyMSTR led with 4,603 BTC.
6 outlets told this the same way.
Corporate buying slows
Publicly traded companies added about 5,900 bitcoin over the past three months, a sharp slowdown from a year earlier, according to Glassnode as cited by CoinDesk. At a spot price near $76,400, those 5,900 coins are worth roughly $451 million, while Glassnode said corporate treasuries’ average entry, the Corporate Treasury Cost Basis, sits at $80.5K, about 6% above spot, leaving the group underwater. CoinDesk and Cryptonews.net both frame the slowdown as a retreat from last year’s pace, when corporate treasuries added more than 100,000 BTC during the same three-month window, including 89,000 coins in July alone.
CoinDesk also places the current corporate holdings at about 1.22 million BTC across 181 listed firms, with Strategy holding about 845,050 BTC as the dominant buyer and holder. Cryptonews.net adds that Tokyo-listed Metaplanet sits among the next-largest corporate stacks, while collectively those treasuries remain in negative territory at current prices.
ETF and exchange signals
CoinDesk says U.S.-listed spot bitcoin ETFs have attracted billions of dollars since early August, but remain roughly $1 billion short of turning positive on a year-to-date basis, citing SoSoValue.
The same CoinDesk account says the Coinbase premium indicator has remained mostly negative since May, aside from a brief move into positive territory on Sept. 5, based on CoinGlass data.
CoinDesk links that negative reading to bitcoin trading at a discount on Coinbase relative to prices on offshore exchange Binance, suggesting U.S. buyers are showing weaker demand than traders elsewhere.
Cryptonews.net similarly emphasizes weak demand signals by noting that corporate treasuries have added only about 5,900 BTC in the last three months, described as a fraction of the pace of last year.
Both outlets also point to stablecoin supply as a demand proxy, with CoinDesk placing it around $300 billion to $310 billion this year and saying supply has been stagnant in recent weeks even as bitcoin surged in mid-August.
What comes next
CoinDesk frames a key threshold for corporate treasuries as a reclaim of $80.5K, saying it would put the treasuries back in profit and remove one layer of overhead supply, while until then their entry is “one more ceiling.”
CoinDesk also ties the broader demand picture to stablecoin capital, saying total stablecoin supply has remained largely flat at around $300 billion to $310 billion this year and that fresh capital entering the market through stablecoins remains tepid at best.
Cryptonews.net echoes the same corporate-demand theme by stating that publicly traded companies “show little appetite for Bitcoin,” while still placing corporate holdings at about 1.22 million BTC across 181 listed companies.
Separately, the Moomoo item adds that on September 17 the U.S. Securities and Exchange Commission (SEC) issued a landmark “Innovation Waiver” notice establishing a new regulatory framework and core principles for on-chain stock trading, with an “exchange‑defined exemption” for eligible tokenized securities trading venues.
Moomoo says the waiver permits eligible tokenized securities trading venues to trade certain equities via automated market maker (AMM) liquidity pools and describes the exemption as a temporary, conditional “exchange‑defined exemption,” while also stating that stock perpetual contracts on Hyperliquid and stock perpetual contracts are explicitly excluded from the exemption.