Investment In Crypto Treasury Firms Drops To 555 Million Dollars

The enthusiasm around companies accumulating cryptos seems to be coming to a halt. Flows to these companies specialized in crypto treasuries have just dropped to their lowest level in nearly a year, signaling a clear slowdown in the momentum observed after the 2024 US election. According to DefiLlama data, investments in these structures are contracting as the market goes through a correction phase. Can the crypto treasury company model withstand a less euphoric market ?

Flows to Crypto Treasuries Drop to Their Lowest Level

Capital entering companies specialized in crypto treasuries (Digital Asset Treasury – DAT) has significantly slowed in recent months, despite their explosion in 2025.

DefiLlama data indicate that monthly inflows now reach about 555 million dollars, their lowest level since October 2024, the period preceding the surge related to the US elections.

The published figures show a particularly marked evolution of flows in recent months :

• Inflows dropped to 32.4 million dollars before the 2024 US presidential election ;
• After the announcement of results and a regulatory change favorable to cryptos, flows jumped to more than 12.3 billion dollars ;
• In 2025, monthly inflows remained well below 10 billion dollars ;
• They finally fell to 555 million dollars, their lowest level in nearly a year.

This contraction occurs in a market environment that has become more difficult. The sector was affected by a crypto market crash in October, triggering several months of bear market and bringing crypto prices back to levels observed before the 2024 US election.

Crypto Treasury Companies Pushed to Reinvent Their Model

Faced with this cycle reversal, some sector players believe that crypto treasury companies must evolve to remain relevant. Patrick Ngan, Head of Investments at Zeta Network Group, points out that these companies can no longer just accumulate cryptos. “Companies holding bitcoin in their treasury must now prove that they really know how to use this asset, and not just store it,” he explains.

In this perspective, several avenues emerge to transform these reserves into sources of income. Companies could exploit their assets via staking, validation on proof-of-stake networks, proof-of-work crypto mining, or lending in decentralized finance. The goal is to generate real cash flows, rather than relying solely on asset price appreciation.

Some investors are already exploring hybrid strategies. Real estate entrepreneur Grant Cardone, for example, has combined real estate and bitcoin in mixed investment vehicles. He explains that this approach allows benefiting from both property appreciation, tax advantages, and rental income reinvested in the purchase of BTC. “If a company holds only bitcoin, why would I invest in that company? Real estate remains the best foundation for a treasury company, because it is not an optional product: people always need housing.”, he states.

The decline in flows to crypto treasury companies highlights the vulnerabilities of a model long supported by market growth. In a more uncertain environment, these companies will have to prove their ability to generate value with their assets. Meanwhile, Strategy continues its bitcoin acquisitions, illustrating the persistence of some accumulation strategies despite the sector’s slowdown.