Short, jargon-free guides to the metrics and strategies behind companies, funds, and governments holding Bitcoin, Ethereum, and Solana on the balance sheet — written by the team that tracks every one of their disclosures.
A short path from the basics to the finer points — each guide builds on the one before it. Jump in anywhere, or follow it top to bottom.
New guides are added as the corporate-treasury landscape evolves — written by the team that tracks these disclosures every day.
A spot ETF tracks the coin at fair value; a treasury stock adds a premium and a coin-per-share bet. Here’s the trade-off, and when each one makes sense.
When money flows into a spot crypto ETF, the fund buys real coin to back new shares; when it flows out, it sells. Here’s how that plumbing reaches through to the coin price.