Global Stock Market “Coin Stocks” Boom: Analysis of Layout Maps of 44 Giants

Cryptographic assets are sweeping across global capital markets, with an increasing number of publicly listed companies using cryptographic assets and blockchain technology as a new engine to drive stock price increases. This article conducts an in-depth analysis of 44 representative publicly listed companies worldwide and summarizes five key tracks:

• Cryptocurrency trading platform: market core hub
• Stablecoin Issuers: The Bridge Between Traditional and Crypto
• Crypto asset holders: “digital gold” on the balance sheet
• Blockchain Technology and DeFi Pioneers: Building the Future Financial Infrastructure
• Crypto Mining Enterprises: Guardians of Computing Power and Value

Cryptocurrency Trading Platform: The Core Hub of the Market

Coinbase Global (COIN)

A compliant cryptocurrency exchange in the United States, established in 2012. It provides a secure trading platform that supports the buying, selling, transferring, and storing of cryptocurrencies. As of the first quarter of 2025, it co-founded the USDC stablecoin with Circle and holds 9,267 BTC and 137,334 ETH.

Bakkt (BKKT)

Launched by the parent company of the New York Stock Exchange, ICE, in 2018, focusing on digital asset custody, trading, and infrastructure services. In June 2025, the investment policy will be updated to allocate funds to digital assets such as Bitcoin and explore financing methods such as issuing convertible notes.

Robinhood (HOOD)

An American financial services company, established in 2013. Supports trading in stocks, ETFs, options, and cryptocurrencies. Actively exploring RWA direction and participating in the promotion of the Global Dollar Network’s USDG stablecoin. Submitted a proposal to the SEC in May 2025 to create a federal framework for the tokenization of real-world assets. Completed a $200 million acquisition of Bitstamp in June.

OSL Group (0863.HK)

Hong Kong licensed compliant digital asset platform, established in 2018. Provides cryptocurrency trading, custody, and compliance solutions for institutional and retail clients.

Guotai Junan International (1788.HK)

A financial services company in Hong Kong, established in 2007. In June 2025, it received approval from the Hong Kong Securities and Futures Commission to upgrade its license, enabling it to provide virtual asset trading services and related advice, becoming the first Hong Kong-based Chinese-funded brokerage to offer comprehensive virtual asset-related trading services.

OK Blockchain (1499.HK)

A blockchain technology company in China, affiliated with the OK Group. It focuses on blockchain infrastructure, data analysis, and financial services, providing solutions such as blockchain explorers, anti-money laundering tools, and stablecoin settlement networks.

Stablecoin Issuers: Bridging Traditional and Crypto

Circle Internet Group (CRCL)

A financial technology company in the United States collaborates with Coinbase to issue the USDC stablecoin. In 2025, they raised $1.05 billion in an IPO, with the stock price soaring 168% on the first day of trading, reaching a valuation of $6.8 billion. USDC is the second-largest stablecoin, after USDT.

JD Coin Chain Technology (9618.HK)

A subsidiary of JD.com, focusing on the application of blockchain technology in supply chain management, finance, and data security. It will enter the second phase of sandbox testing in May 2025, with plans to issue stablecoins pegged to the Hong Kong dollar and the US dollar.

Xiongan Technology (1647.HK)

A blockchain and fintech solutions company located in Xiong’an New Area. Develops a blockchain platform for smart city applications, financial services, and data management, and its “Xiong’an Fund” has previously laid out stablecoin infrastructure.

Cryptocurrency Holders: “Digital Gold” on the Balance Sheet

MicroStrategy (MSTR)

The American business intelligence company has held nearly 580,000 coins since August 2020, making it the largest corporate holder of Bitcoin in the world. The stock price has increased by 4315.85% since the initial purchase of BTC.

Tesla (TSLA)

American electric vehicle and clean energy company. In 2021, purchased 1.5 billion dollars worth of Bitcoin and accepted it as a payment method, later selling off most of its holdings. This sparked a wave of corporate adoption of crypto assets.

GameStop Corp. (GME)

A US retail company focused on video games and electronics. Launched an NFT marketplace in 2022, exploring blockchain and digital collectibles, and holding Bitcoin as a reserve strategy.

Meitu (1357.HK)

A Chinese photo editing and social media application service company. Invested in Bitcoin and Ethereum in 2021, diversifying asset reserves.

Trump Media & Technology Group (DJT)

A U.S. media company operates the Truth Social platform. It adopts a Bitcoin reserve strategy, aiming to hold $2.3 billion worth of crypto assets.

Metaplanet (3350.T)

Japanese listed companies are following MicroStrategy’s strategy of adopting a Bitcoin-centric approach. They plan to acquire 210,000 BTC by 2027 and currently hold 12,345 BTC.

SharpLink Gaming (SBET)

An American online gaming and gambling technology company. Announced Ethereum as its main reserve asset, securing $425 million in financing, becoming the largest publicly listed holder of Ethereum, holding 188,478 ETH.

Cantor Equity Partners (CEP)

A U.S. financial services company adopts a Bitcoin reserve strategy, aiming to hold $3 billion in crypto assets. Supported by Tether, SoftBank, and others.

NextTech Holding (NXTT)

A diversified SaaS technology service company in China. Completed 5,000 Bitcoin transactions in March 2025, with a total reserve of 5,833 Bitcoins.

Asset Entities (ASST)

A digital marketing and content creation company in the United States. Announced a merger with Strive Asset Management in May 2025, becoming a publicly traded Bitcoin financial company.

ATIF Holdings Limited (ATIF)

A U.S. financial consulting firm. In June 2025, it announced plans to raise $100 million to purchase Dogecoin as a fiscal reserve investment.

Brooker Group Public Company (BTC.BK)

A financial consulting and investment company in Thailand. The first listed company in Thailand to hold various cryptocurrency assets such as Bitcoin and Ethereum.

SRM Entertainment, Inc. (SRM)

American toy and theme park souvenir manufacturer. Announced in June 2025 to use TRON’s TRX as the core reserve asset, planning to rename to “Tron Inc.”.

Nine Purple New Energy (JZXN)

Chinese new energy vehicle dealers. A strategy approved in May 2025 to purchase 1,000 coins within a year.

Kindly MD (NAKA)

A comprehensive healthcare service provider in the United States. Merged with the Bitcoin native company Nakamoto Holdings in May 2025, aiming to create a publicly listed “Bitcoin Treasury Platform”.

Siebert Financial Corp. (SIEB)

A financial services company in the United States. Approved by the SEC in June 2025 to raise $100 million, planning to purchase digital assets such as BTC, ETH, and Solana.

Trident Digital Tech Holdings (TDTH)

Singapore’s digital technology optimization services and Web3.0 platform. Announced in June 2025 to raise $500 million to build the XRP treasury.

VivoPower International (VVPR)

A UK sustainable energy solutions company. Completed $121 million in private financing in May 2025 and announced that it became the first publicly listed company with XRP as its core treasury.

Webus International (WETO)

China’s intelligent travel technology provider. In May 2025, it disclosed plans to raise $300 million to build an enterprise treasury centered around XRP.

Wellgistics Health (WGRX)

A pharmaceutical wholesale and healthcare logistics technology platform in the United States. Launch of the XRP payment network + treasury reserve model in May 2025.

Blockchain Technology and DeFi Pioneers: Building the Future Financial Infrastructure

Galaxy Digital (GLXY)

A global digital asset financial services group. Approved for listing on NASDAQ by the SEC in 2025, promoting expansion in the US market. Holds approximately 12,830 coins.

Yuxing Technology (8005.HK)

Hong Kong listed company, mainly engaged in information home appliance agency, distributed storage, IDC services, and digital asset business. Participated in the construction of IPFS/Filecoin related infrastructure in 2021.

New Fire Technology (1611.HK)

Focus on compliance services for digital assets. Upgrade the banking account system in June 2025, establish a strategic partnership with HashKey Exchange, and promote the integrated asset custody layout in the Hong Kong and Macau region.

Defi Technologies (DEFT)

A full-stack blockchain company from Canada. The subsidiary Valour is a leading digital asset ETP issuer in Europe. Holds approximately 208.8 BTC, 121 ETH, and 14,375 SOL.

DeFi Development Corp (DFDV)

A US company focusing on Solana treasury. In May 2025, it held approximately 621,313 SOL. In June, it became the first US stock treasury to issue tokenized stocks on the Solana chain.

Upexi (UPXI)

An American e-commerce and consumer goods company. Initiated the Solana treasury transformation in 2025, holding approximately 735,692 SOL.

BTCS Inc. (BTCS)

American blockchain infrastructure company. Main business includes node cloud, Staking-as-a-Service, and on-chain data analysis. Holds 14,600 ETH.

Mercurity Fintech Holding Inc. (MFH)

A blockchain technology company listed in the United States. In June 2025, it partnered with SBI Digital Markets to issue and distribute compliant RWA coin products.

Crypto Mining Enterprises: Guardians of Computing Power and Value

Bitdeer Technologies (BTDR)

Global Bitcoin mining and computing power operators. In May 2025, mined 196 BTC through self-mining, with expected power capacity reaching 1.6GW in June.

Canaan Inc. (CAN)

One of the world’s first manufacturers to launch ASIC Bitcoin miners. Engaged in self-operated and third-party mining machine rental businesses.

CleanSpark (CLSK)

A Bitcoin mining company in the United States, focusing on sustainable energy solutions. In June 2025, the computing power will exceed 50 EH/s, producing about 694 BTC per month.

DMG Blockchain Solutions (DMGI)

A full-stack blockchain company in Canada. It uses clean energy technology, combining Bitcoin mining, blockchain software, custody services, and data center operations. Holds approximately 351 BTC.

Hut 8 Corp. (HUT)

One of the largest energy infrastructure operators in North America. As of March 31, 2025, mined 10,273 BTC through self-mining, with a total treasury exceeding 1.1 billion dollars.

Marathon Digital (MARA)

American Bitcoin mining company. In May 2025, it set a historical maximum output of 950 BTC, with a self-operated BTC reserve of approximately 49,179 coins, contributing about 6.5% of the Bitcoin network’s daily block production globally.

Riot Platforms (RIOT)

American Bitcoin mining company. In May 2025, it produced 514 BTC, a year-on-year increase of 139%, with a BTC reserve of approximately 18,221 coins.

Conclusion

Global publicly traded companies are integrating crypto 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 the restructuring of balance sheets and future valuation logic. The deep driving force behind this bull market comes from the massive acceptance and revaluation of the crypto asset narrative by traditional capital markets. Discovering these “narrative valleys” could very well become the most alpha-generating investment direction this summer. The tide of integration between crypto assets and traditional equity is unstoppable; those who understand the rules of this “dual game” earlier will seize the opportunity in the wave of value revaluation.