Comparing Bitcoin and Ether Treasury Strategies in 2025

Cryptocurrency in Corporate and Sovereign Treasuries

In recent years, both corporations and nations have increasingly incorporated cryptocurrencies into their treasury management strategies. Traditional treasury assets such as cash, gold, and government bonds face challenges including inflationary erosion, interest rate and duration risks, and foreign exchange volatility. Cryptocurrencies like Bitcoin (BTC) and Ether (ETH), alongside stablecoins, offer alternatives that potentially preserve value, provide liquidity around the clock, and leverage digital infrastructure for rapid cross-border transfers.

Bitcoin: The Digital Gold Standard

Bitcoin remains the most recognized and widely held cryptocurrency in treasury portfolios. Its fixed supply and active global markets make it an attractive hedge against inflation and currency risk. Governments such as El Salvador have adopted Bitcoin as legal tender, while others, including Bhutan, have quietly added BTC to their reserves. In the United States, legislative proposals like the Bitcoin Act seek to institutionalize BTC holdings at the federal level, and the Strategic Bitcoin Reserve established by executive order currently holds approximately 200,000 BTC acquired through forfeitures.

Corporations such as Strategy have amassed substantial Bitcoin reserves, favoring a long-term holding approach. Despite Bitcoin’s price volatility, its liquidity and status as a digital store of value underpin its appeal. However, generating yield from idle BTC requires engagement with external lending or derivatives markets.

Ether: The Programmable, Income-Generating Asset

Following Ethereum’s transition to proof-of-stake in 2022, Ether has emerged as a compelling treasury asset offering both value preservation and income generation through staking, which yields approximately 3% to 5% annually. This development distinguishes ETH from BTC, positioning it as a productive asset.

Ethereum’s extensive decentralized finance (DeFi) ecosystem provides treasuries with liquidity options without liquidating holdings. Additionally, Ethereum supports tokenized real-world assets such as bonds and commodities, enhancing its utility as a financial platform. Institutional interest in Ether is growing, evidenced by the launch of ETH-based exchange-traded funds and adoption by decentralized autonomous organizations (DAOs) as reserve assets.

Challenges persist, including regulatory uncertainties and technical complexities related to staking. Nonetheless, Ether’s combination of income potential and ecosystem utility makes it an increasingly attractive option for treasury diversification.

2025 Treasury Holdings: A Comparative Overview

As of September 10, 2025, Bitcoin remains the leading cryptocurrency held by treasuries, with over 1 million BTC controlled by corporations and institutions globally. In contrast, Ether holdings total approximately 4.91 million ETH across 73 entities, valued at over $21 billion. Notable holders such as Bitmine Immersion Tech possess over 2 million ETH, underscoring significant institutional commitment to Ether.

Data indicates divergent strategies: Bitcoin reserves are predominantly held idle for capital preservation, while a substantial portion of Ether is actively staked to generate returns. The number of publicly listed companies holding Bitcoin increased from 70 in late 2024 to 134 by mid-2025, accumulating nearly 245,000 BTC.

Dual Treasury Strategies: Combining Stability and Yield

Some organizations and governments are adopting dual treasury approaches, holding both Bitcoin and Ether to balance stability with income generation. The US government exemplifies this with its Strategic Bitcoin Reserve alongside a Digital Asset Stockpile that includes Ether.

Similarly, Bitmine Immersion Technologies combines a moderate Bitcoin reserve with a substantial Ether holding, reflecting a strategic shift from pure Bitcoin mining to diversified crypto treasury management.

This hybrid approach leverages Bitcoin’s global recognition as a reserve asset and Ether’s functional advantages within decentralized finance and tokenized markets.

Which Strategy Prevails in 2025?

The choice between Bitcoin and Ether treasuries depends largely on institutional priorities. Bitcoin’s role as digital gold makes it the preferred asset for capital security and liquidity. Ether’s staking yields and programmable features attract entities seeking active income and broader financial applications.

While Bitcoin currently leads in total treasury holdings, Ether’s expanding ecosystem and income potential signal growing adoption. Increasingly, treasuries may opt for a combined strategy to harness the complementary strengths of both cryptocurrencies.