BTCQvsMSTR
3iQ CoinShares Bitcoin ETF vs Strategy
Side-by-side Bitcoin treasury comparison: holdings, market cap, mNAV ratio, BTC per share, cost basis, and recent purchases. Numbers refresh every 5 minutes from SEC filings and live market data.
BTCQ
3iQ CoinShares Bitcoin ETF
🇨🇦 CA
2,316 BTC
$148.1M market value
MSTR
Strategy
🇺🇸 US
843,775 BTC
$53.9B market value
Metric
BTCQ
MSTR
BTC holdings
2,316 BTC
843,775 BTC
Market value of BTC
$148.1M
$53.9B
Average cost per BTC
—
$75,476.00
Total cost basis
—
$63.7B
mNAV (market cap ÷ BTC value)
—
0.61×
Sats per share
—
- May 14, 2026+0 BTC—
- Jul 6, 2026+-3,588 BTC$216.0M
- Jun 22, 2026+520 BTC$34.9M
- Jun 15, 2026+1,587 BTC$100.0M
- Jun 8, 2026+1,550 BTC$101.3M
BTCQ vs MSTR: frequently asked
Which company holds more Bitcoin, BTCQ or MSTR?▾
Strategy (MSTR) holds 843,775 BTC, compared to 3iQ CoinShares Bitcoin ETF's (BTCQ) 2,316 BTC — roughly 364.3× more.
What's the total Bitcoin value on the balance sheets of BTCQ and MSTR?▾
BTCQ holds $148.1M worth of Bitcoin at current market prices. MSTR holds $53.9B.
Who has a lower cost basis per BTC, BTCQ or MSTR?▾
Cost basis disclosure is inconsistent across these two entities; check each company's detail page for per-purchase history.
When did BTCQ last buy Bitcoin?▾
BTCQ disclosed a 0 BTC purchase on May 14, 2026.
When did MSTR last buy Bitcoin?▾
MSTR disclosed a -3,588 BTC purchase on July 6, 2026.