Treasuries Weekly — October 31, 2025: 3,072 BTC · 554 ETH · 100,000 SOL from 4 entities

Section 01 The Week

Coinbase (COIN) acquired 2,682 BTC for $300 million, the week's largest purchase by dollar value, according to a 10-Q filed October 30th. Strategy (MSTR) added 390 BTC worth $43.4 million in an earlier filing. Outside Bitcoin, Solana Company (HSDT) stacked 100,000 SOL for $19.4 million, and Def Consulting (4833.T) accumulated 554 ETH across three separate transactions totaling $2.3 million. Four distinct companies moved this week; no new treasury stackers entered the cohort. Total acquisitions: 3,072 BTC, 554 ETH, and 100,000 SOL, worth $365.1 million combined.

Filings Recent Purchases

Company	Amount	USD	Date
Coinbase (COIN)	2,682 BTC	$300.0M	Oct 30
Solana Company (HSDT)	100,000 SOL	$19.4M	Oct 29
Def Consulting (4833.T)	160 ETH	$657.9K	Oct 28
Def Consulting (4833.T)	311 ETH	$1.3M	Oct 27
Strategy (MSTR)	390 BTC	$43.4M	Oct 26
Def Consulting (4833.T)	83 ETH	$326.7K	Oct 24

Section 02 Notable Filings

Coinbase's 10-Q (SEC accession 000167978825000208) discloses the 2,682 BTC purchase and marks the company's continued balance-sheet accumulation. Strategy's 8-K filing (SEC accession 000119312525250751) confirms the 390 BTC addition at $111,117 per coin. Def Consulting's ETH buys and Solana Company's SOL position do not yet have SEC filings linked in the data. Readers tracking corporate treasury diversity should note the spread: Bitcoin remains dominant by USD value, but SOL and ETH activity indicates emergent multi-asset adoption among smaller and international filers.

Leaderboard Top Five

#	Company	Holdings	Value
1	Strategy (MSTR)	818,334 BTC	$64.5B
2	BlackRock iShares Bitcoin Trust (IBIT)	811,982 BTC	$64.0B
3	United States (GOV-US)	328,372 BTC	$25.9B
4	China (GOV-CN)	194,000 BTC	$15.3B
5	Fidelity Wise Origin Bitcoin Fund (FBTC)	187,975 BTC	$14.8B

Section 03 One Chart

Entity	Share of top-five concentration	Holdings
Strategy (MSTR)		818,334 BTC
BlackRock iShares Bitcoin Trust (IBIT)		811,982 BTC
United States (GOV-US)		328,372 BTC
China (GOV-CN)		194,000 BTC
Fidelity Wise Origin Bitcoin Fund (FBTC)		187,975 BTC

Coinbase's single 2,682 BTC purchase represents 87 percent of this week's total Bitcoin acquisition volume ($300 million of $343.4 million). By contrast, Solana Company's 100,000 SOL position, though numerically larger, captures only 5.3 percent of weekly dollar inflows. The gap illustrates how Bitcoin's price and network effect continue to concentrate corporate treasury capital, while Ethereum and Solana remain order-of-magnitude smaller on the balance-sheet adoption curve.

You're reading Treasuries Weekly — a briefing on corporate BTC, ETH, and SOL balance-sheet adoption from CorpStacking.
Editorial is not investment advice. Data sourced from SEC EDGAR, CoinGecko, and primary corporate filings.

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