A growing number of financial firms are reaping big fees as corporate companies flock to bitcoin, citing diversification, inflation hedge, and investor attraction. The trend has reached “fever pitch,” with a record number of public companies adding crypto to their balance sheets.
Anchorage Digital’s CEO Nathan McCauley notes that the trend is contagious, with his company striking deals for Trump Media’s $2 billion bitcoin treasury and Nakamoto Holdings’ $760 million trove. The total value of corporate-held bitcoin has surged from 416,000 coins a year ago to over 950,000 coins worth $110 billion today.
Strategy Inc., a pioneer in corporate crypto buying, is leading the way, with $73 billion worth of bitcoin holdings and a market cap of $95 billion. Other companies, such as World Liberty Financial and Trump Media, are also entering the fray, with treasury deals valued at $2 billion and $1.5 billion respectively.
Financial firms are capitalizing on this trend, generating fees from underwriting commissions, custodian services, and trading transactions. Morgan Stanley, Barclays Capital, and Moelis & Company are among those profiting from the boom, with estimated fees ranging from $10 million to hundreds of millions.
Qualified custodians like BitGo and Coinbase are also seeing a surge in business, with many companies announcing custody deals over the past couple of months. The company’s revenue has crossed $100 billion, thanks to growing corporate treasuries.
As the trend continues, financial firms will need to differentiate themselves by offering yield-generating strategies or low-cost capital. Institutional lenders and asset managers like Two Prime, Maple Finance, and Galaxy are poised to benefit from this shift.
The market is expected to continue its upward trajectory, with companies holding 1% to 100% of their balance sheet assets in crypto. The digital asset treasury boom is in early innings, but experts predict that all companies will eventually become “crypto treasury companies” in one way or another, unlocking a vast and untapped market worth $31 trillion.
Source: https://www.forbes.com/sites/juliegoldenberg/2025/08/19/whos-getting-rich-off-the-100-billion-crypto-treasury-boom