Why Are Public Companies Ammassing ETH, XRP, SOL, BNB Instead Of Just Bitcoin?
Publicly traded companies are increasingly integrating cryptocurrencies other than Bitcoin (CRYPTO: BTC), into their treasuries, with significant investments announced in Ethereum (CRYPTO: ETH), Solana (CRYPTO: SOL), XRP (CRYPTO: XRP), Binance Coin (CRYPTO: BNB) and other tokens this year.
What Happened: This trend, driven by firms across biotech, fintech, and Web3 sectors, reflects a strategic pivot to diversify financial assets and capitalize on the growing legitimacy of digital currencies.
SharpLink Gaming, a Minnesota-based affiliate marketing firm listed on Nasdaq (NASDAQ:SBET), has emerged as a leader in altcoin treasury adoption, focusing on Ethereum.
As of July 22, SharpLink holds 205,000 ETH, valued at approximately $1.35 billion, making it the second-largest corporate holder of Ethereum behind the Ethereum Foundation.
The company, now chaired by Joe Lubin, co-founder of Ethereum and CEO of Consensys, announced plans in May 2025 to raise $425 million to build its ETH treasury.
Since June 2, SharpLink has committed all its ETH to staking and restaking protocols, generating a yield of 322 ETH.
The firm’s stock surged from under $4 to nearly $40 following the announcement, though it stabilized at $16.29 by mid-July, reflecting sustained investor interest.
Solana has also gained traction as a treasury asset.
DeFi Development Corporation (NASDAQ:DFDV), formerly Janover, a real estate software firm, rebranded in April 2025 after Kraken executives took leadership roles.
The company raised $24 million in a private equity deal to acquire SOL, holding 395,000 tokens by May 31.
Separately, Upexi, …
About The Author
