The Integration of Encryption Assets and Traditional Equity: Analysis of the Layout Map of 44 Listed Companies Worldwide

The encryption wave is sweeping the global capital markets. An increasing number of listed companies are using encryption assets and blockchain technology as a new engine driving their stock prices to soar. To reveal the logic behind this trend, we conducted an in-depth analysis of 44 representative listed companies and categorized them into five key tracks:

• Encryption trading platform: the core hub of the market
• Stablecoin issuers: the bridge connecting traditional and encryption.
• Cryptocurrency heavyweights: "digital gold" on the balance sheet
• Blockchain Technology and DeFi Pioneer: Building the Future Financial Infrastructure
• Encryption Mining Enterprises: The Guardian of Computing Power and Value

Encryption Trading Platform: The Core Hub of the Market

Coinbase Global(US Stock:COIN)

Coinbase is a US-compliant cryptocurrency exchange that offers services for buying, selling, transferring, and storing cryptocurrencies. As of the first quarter of 2025, Coinbase holds 9,267 BTC and 137,334 ETH.

Bakkt( US Stocks: BKKT)

Bakkt was launched by the Intercontinental Exchange, the parent company of the New York Stock Exchange, focusing on digital asset custody, trading, and infrastructure services. In June 2025, it updated its investment policy to allocate funds to digital assets such as Bitcoin.

Robinhood( US Stocks: HOOD)

Robinhood is a well-known commission-free trading platform that supports cryptocurrency trading. In May, it submitted a proposal to the SEC to create a federal framework for tokenizing real-world assets. In June, it completed a $200 million acquisition of Bitstamp.

OSL Group( Hong Kong Stock: 0863)

OSL is a licensed compliant digital asset platform in Hong Kong, providing encryption trading, custody, and compliance solutions for institutional and retail clients.

Guotai Junan International ( Hong Kong stocks: 1788)

Guotai Junan International is a subsidiary of Guotai Junan Securities, one of the largest securities firms in China. In June, it received approval from the Hong Kong Securities and Futures Commission to upgrade its license, allowing it to provide virtual asset trading services.

OK Blockchain ( Hong Kong Stock: 1499)

OK Blockchain Cloud is part of the OK Group, focusing on blockchain infrastructure, data analysis, and financial services, providing solutions such as blockchain browsers, AML tools, and stablecoin settlement networks.

Stablecoin Issuers: Bridging Traditional and Encryption

Circle Internet Group(US Stock: CRCL)

Circle partnered with Coinbase to issue the USDC stablecoin. In 2025, it raised $1.05 billion through an IPO, with the stock price soaring 168% on the first day of trading, valuing the company at $6.8 billion.

JD Coin Chain Technology ( Hong Kong Stock: 9618)

JD Coin Chain Technology focuses on the application of blockchain technology in supply chain management, finance, and data security. It is developing the JD stablecoin and has entered the second phase of sandbox testing.

Xiong'an Technology ( HK Stock: 1647)

Xiong'an Technology focuses on developing blockchain platforms for smart city applications, financial services, and data management. Its subsidiary "Xiong'an Fund" has previously laid out stablecoin infrastructure.

Encryption Asset Heavy Holders: "Digital Gold" on the Balance Sheet

MicroStrategy(US stock:MSTR)

MicroStrategy holds nearly 580,000 Bitcoins, making it the largest corporate holder of Bitcoin in the world. Since its first purchase of BTC, its stock price has increased by 4315.85%.

Tesla( US Stock: TSLA)

Tesla once purchased $1.5 billion worth of Bitcoin and accepted it as a payment method, later selling off most of its holdings. Its encryption currency attempts sparked a wave of corporate adoption of encryption assets.

GameStop Corp.(US Stock:GME)

GameStop launched its NFT marketplace in 2022 and holds Bitcoin as part of its encryption reserve strategy.

Meitu( HK Stock:1357)

Meitu Xiuxiu Company invested in Bitcoin and Ethereum in 2021 to diversify its asset reserves.

Trump Media & Technology Group(US Stock: DJT)

Trump Media & Technology Group adopts a Bitcoin reserve strategy, aiming to hold $2.3 billion in encryption assets.

Metaplanet( Japan Stock:3350)

Metaplanet imitates MicroStrategy's Bitcoin-centered strategy, planning to acquire 210,000 BTC by 2027.

SharpLink Gaming(NYSE:SBET)

SharpLink Gaming announced Ethereum as its primary reserve asset, becoming the largest publicly traded company holder of Ethereum, with a holding of 188,478 ETH.

Cantor Equity Partners(US Stock: CEP)

Cantor Equity Partners adopts a Bitcoin reserve strategy, aiming to hold $3 billion worth of encryption assets.

NextTech Holding(US Stock:NXTT)

NextTech Holding holds Bitcoin for reserves, with a total reserve of 5,833 Bitcoins as of now.

Asset Entities( US Stocks: ASST)

Asset Entities announced a merger agreement with Strive Asset Management and will become a publicly listed Bitcoin financial company.

ATIF Holdings Limited(US Stock: ATIF)

ATIF Holdings announced a stock issuance plan, intending to raise 100 million USD to purchase Dogecoin as a financial reserve investment for the company.

Brooker Group Public Company(Thai Stock: BTC)

Brooker Group is the first publicly listed company in Thailand to hold various encryption assets such as Bitcoin and Ethereum.

SRM Entertainment, Inc.(US Stock: SRM)

SRM Entertainment announced that it will use TRX from TRON as its core reserve asset and plans to undergo a reverse merger with the Tron blockchain group.

Nine Purple New Energy ( US Stock: JZXN )

The board of directors of Jiuzi New Energy has approved the purchase of 1,000 bitcoins within the next year, to be paid through stock issuance and cash.

Kindly MD( US stocks: NAKA)

Kindly MD shareholders approved the merger with the Bitcoin native company Nakamoto Holdings, aiming to create a listed "Bitcoin Treasury Platform."

Siebert Financial Corp.(US Stock:SIEB)

Siebert Financial plans to raise up to $100 million by issuing various securities to purchase digital assets such as BTC, ETH, and Solana.

Trident Digital Tech Holdings(US Stock: TDTH)

Trident Digital Tech Holdings announced a fundraising of up to $500 million to build the XRP treasury and launch a staking mechanism to generate returns.

VivoPower International(US Stock: VVPR)

VivoPower International completed a $121 million private placement and announced that it will become the first publicly listed company to use XRP as its core treasury.

Webus International( US Stock: WETO)

Webus International plans to raise up to $300 million in funding to build a treasury centered around XRP.

Wellgistics Health(US Stock:WGRX)

Wellgistics Health announced the launch of the XRP payment network + treasury reserve model, supporting rapid real-time clearing of cross-segment transactions in the supply chain.

Blockchain Technology and DeFi Pioneers: Building the Future Financial Infrastructure

Galaxy Digital(US Stock:GLXY)

Galaxy Digital is a global digital asset financial services group that provides cryptocurrency trading, asset management, and consulting services. As of now, it publicly holds approximately 12,830 bitcoins.

Yuxing Technology ( HK Stock: 8005)

Yuxing Technology focuses on the agency of smart home appliances, distributed storage, IDC services, and digital asset business. In 2021, it purchased mining equipment and participated in the infrastructure construction related to IPFS/Filecoin.

New Fire Technology ( Hong Kong Stock: 1611)

New Fire Technology focuses on compliance services for digital assets, with business including asset management, custody, mining, trading, and blockchain technology solutions.

Defi Technologies(US Stock:DEFT)

Valour, a subsidiary of DeFi Technologies, is one of the leading digital asset ETP issuers in Europe. As of the end of May, it holds approximately 208.8 BTC, 121 ETH, and 14,375 SOL.

DeFi Development Corp(US Stock: DFDV)

DeFi Development Corp has transformed to focus on the Solana treasury. As of May 2025, it holds approximately 621,313 SOL.

Upexi( US stock: UPXI)

Upexi kicks off Solana's treasury transformation. As of June 2025, the total holdings are approximately 735,692 SOL.

BTCS Inc.(US Stock:BTCS)

BTCS Inc. specializes in NodeOps node cloud, Staking-as-a-Service, and on-chain data analysis. As of now, it holds 14,600 ETH.

Mercurity Fintech Holding Inc.(US Stock: MFH)

Mercurity Fintech Holding is transforming into a "compliant fintech + blockchain payment and RWA market" platform. In June, it established a strategic partnership with SBI Digital Markets to jointly issue and distribute compliant RWA token products.

Encryption Mining Enterprises: The Guardians of Computing Power and Value

Bitdeer Technologies(US Stock: BTDR)

Bitdeer Technologies is a global Bitcoin mining and hash rate operator. In May, it mined 196 BTC, and it is expected that the power capacity will reach 1.6 GW in June.

Canaan Inc.(US Stock:CAN)

Canaan is one of the first manufacturers in the world to launch ASIC Bitcoin miners, with its main products including the Avalon series of miners.

CleanSpark( US Stock: CLSK)

CleanSpark focuses on sustainable energy solutions for Bitcoin mining. As of June 2025, the hash rate exceeded 50 EH/s, and the self-mined BTC surpassed 12,500 coins.

DMG Blockchain Solutions( Canada:DMGI)

DMG Blockchain Solutions adopts clean energy technology, combining Bitcoin mining, blockchain software, custody services, and data center operations. As of now, it has accumulated approximately 351 BTC.

Hut 8 Corp.(US Stock:HUT)

Hut 8 Corp. is one of the largest energy infrastructure operators in North America. As of March 31, 2025, it has mined 10,273 BTC, with a total treasury of over $1.1 billion.

Marathon Digital( US Stock: MARA)

Marathon Digital Holdings is the second largest BTC reserve company after MicroStrategy. As of May 2025, it holds approximately 49,179 BTC in self-operated reserves, with an energized hash rate of 58.3 EH/s.

Riot Platforms(US Stock:RIOT)

Riot Platforms focuses on Bitcoin mining as its core business. In May 2025, it produced 514 BTC, a year-on-year increase of 139%.

Conclusion

Global publicly traded companies are integrating encryption assets into their value engines at an unprecedented speed and innovative posture. This is no longer just a technological experiment, but a profound revolution concerning balance sheet reconstruction and future valuation logic. The deep driving force of this bull market comes from the large-scale acceptance and valuation reassessment of encryption asset narratives by traditional capital markets. Uncovering these "narrative troughs" may very well become the most alpha-generating investment direction this summer.