Original | Odaily Planet Daily (@OdailyChina)
The heat in the US stock crypto sector is skyrocketing! Public companies are no longer satisfied with merely imitating "MicroStrategy" by hoarding Bitcoin; they are now pouring their enthusiasm into popular altcoins like ETH, BNB, and SOL—market euphoria is entering a new phase!
In the first phase, "Bitcoin treasury stocks" captured attention with soaring stock prices, but information asymmetry caused many to miss the opportunity. Now, with FOMO sentiment high, the market's focus is shifting to those bold US companies that are accumulating diverse altcoins, and the "US stock version of Altcoin Summer" is about to sweep in!
Odaily Planet Daily has compiled a list of several publicly traded companies that have announced holdings of ETH, BNB, SOL, TRX, HYPE, and other altcoins to help readers seize the opportunity.
Ethereum Treasury Public Companies
SharpLink Gaming (US stock code: SBET)
Total reserves: 194,000 ETH (approximately $476 million)
Stock price (as of June 26): $10.28
Market cap: $626.12 million
SharpLink Gaming is a Nasdaq-listed company that was previously focused on the US sports betting and global iGaming industry as an online technology company, but its operating conditions have not been ideal, facing losses in both 2023 and 2024, with tight cash flow.
On May 27, SharpLink Gaming announced the issuance of 69,100,313 shares of common stock or equivalent securities to investors at a price of $6.15 per share, expecting total proceeds of approximately $425 million, marking the beginning of its journey to purchase ETH as the company's primary reserve asset. On the first day of the announcement, SharpLink Gaming's stock price surged over 650%, reaching a recent high of $79.21 on May 29.
On June 2, according to US SEC filings, SharpLink Gaming planned to sell stock to purchase $1 billion worth of ETH as its reserves. On June 13, SharpLink Gaming officially began accumulating ETH, spending $463 million to acquire 176,270.69 ETH at an average price of $2,626. Subsequently, from June 16 to June 20, 2025, it spent $30,674,829 to increase its holdings by 12,207 ETH at an average price of $2,513, and on June 26, it purchased another 5,989 ETH. The company has now invested approximately $507 million to acquire and hold 194,000 ETH, with an average acquisition cost of about $2,611 per coin, currently facing an overall unrealized loss of about $36 million.
Siebert Financial Corp. (US stock code: SIEB)
Total reserves: Not disclosed
Stock price (as of June 26): $4.41
Market cap: $178.21 million
Siebert Financial Corp. is a Nasdaq-listed company, primarily a bank holding company engaged in brokerage and financial consulting services. It operates retail brokerage, investment consulting, insurance services, and more through its wholly-owned subsidiaries.
On June 9, Siebert Financial Corp. announced that its S-3 shelf registration statement had become effective with the US SEC, allowing it to raise up to $100 million through the sale of various securities, with proceeds potentially used for acquisitions, purchasing Bitcoin, Ethereum, Solana, and other digital assets, as well as investing in AI and other technology service lines, including but not limited to AI solutions.
Perhaps due to the lack of formal disclosure regarding purchase details, the company's stock price did not rise following this announcement.
Treasure Global, Inc. (US stock code: TGL)
Total reserves: Not disclosed
Stock price (as of June 26): $1.07
Market cap: $4.07 million
Treasure Global, Inc. is a Nasdaq-listed company that primarily operates an e-commerce platform providing payment solutions, but its operating conditions have not been ideal, with continuous losses from 2021 to 2024 and negative net profits.
On June 4, Treasure Global Inc. announced the launch of a $100 million digital asset treasury plan to strengthen its digital infrastructure and support the launch of an AI consumer intelligence platform. The funding for this plan consists of two parts: $50 million from an existing equity financing agreement and another $50 million from new investments by strategic institutional investors. The funds will be allocated in phases to acquire blockchain-native assets such as Bitcoin, Ethereum, and regulated stablecoins, aiming to enhance capital efficiency and lay the groundwork for future tokenization, loyalty programs, and blockchain settlement systems.
However, the company's stock price did not show significant fluctuations following this announcement.
Solana Treasury Public Companies
Upexi (US stock code: UPXI)
Total reserves: 679,677 SOL (approximately $99.39 million)
Stock price (as of June 26): $3.33
Market cap: $126.26 million
Upexi is a Nasdaq-listed company that previously focused on the research, development, manufacturing, and distribution of consumer products, with brands including medicinal mushroom products Cure Mushrooms, pet care brand LuckyTail, and the energy gummy-focused Prax series, but its operating conditions have not been ideal, with ongoing net losses across its businesses.
On April 21, Upexi announced it had secured $100 million in financing led by well-known crypto market maker GSR, with 95% of the funds allocated to establishing and operating a Solana treasury reserve. Following this news, Upexi's stock price surged over 600% on the same day. Upexi also decided to fully transition to crypto, and according to its disclosed roadmap for 2025, the company will also engage in Bitcoin and altcoin mining, diverse crypto investment portfolios, and DeFi.
However, Upexi's stock price began to fluctuate after reaching a peak of $17.71 on April 25, and has now fallen to $3.33 due to significant sell-offs by investors.
DeFi Development Corp. (US stock code: DFDV)
Total reserves: 621,313 SOL (approximately $90 million)
Stock price (as of June 26): $18.86
Market cap: $278.01 million
DeFi Development Corp. is a Nasdaq-listed company, originally named Janover Inc., which has primarily engaged in commercial real estate fintech since its establishment in 2018, but its operating conditions have also been unsatisfactory, with losses from 2022 to 2024.
On April 8, Janover Inc. announced its first purchase of 2,858 SOL at an average price of $134, marking the beginning of its transformation into a Solana treasury company. On April 22, Janover Inc. officially changed its name to DeFi Development Corp. and its Nasdaq stock code from JNVR to DFDV. On June 12, DeFi Development Corp. announced it had secured a $5 billion equity financing limit to support continued accumulation of SOL.
After DeFi Development Corp. announced its SOL treasury plan, its stock price reached a peak of $50.28 on May 22, but has since retreated.
DeFi Technologies (US stock code: DEFT)
Total reserves: 208.8 BTC (approximately $22.37 million), 14,375 SOL (approximately $2.08 million), 121 ETH (approximately $293,000), 1,642,703 CORE (approximately $887,000), 433.322 AVAX (approximately $7,756.40)
Stock price (as of June 26): $2.88
Market cap: $962.16 million
DeFi Technologies is a Nasdaq-listed company that, in 2021, primarily transformed its business to provide secure and compliant access to decentralized finance (DeFi) markets for traditional investors.
In 2024, DeFi Technologies began implementing a crypto asset treasury plan through its subsidiary brand Valour. According to its disclosed information, as of the first quarter of 2025, in addition to holding 208.8 BTC, it also holds 121 ETH, 14,375 SOL, 433.322 AVAX, and 1,642,703 CORE. SOL is its second-largest holding.
The company's stock price has shown an upward trend since June 21, with a 5-day increase of 4.73%.
Sol Strategies Inc. (Canadian stock code: HODL)
Total reserves: 420,706.82 SOL (approximately $83.96 million)
Stock price (as of June 26): CAD 2.3 (approximately $1.676)
Market cap: CAD 398.47 million (approximately $290 million)
Sol Strategies Inc. is a company listed on the Canadian Securities Exchange, originally named Cypherpunk Holdings Inc. Since 2018, the company has focused on equity investments, private equity, and infrastructure operations within the blockchain ecosystem, and it changed its name to Sol Strategies Inc. in September 2024.
The company has been gradually purchasing and accumulating SOL since October 2024, and currently holds a total of 420,706.82 SOL (valued at approximately $83.96 million). On June 19, Sol Strategies Inc. announced that it is applying for a Nasdaq listing under the code "STKE" and has submitted a 40-F form to the US SEC. If successful, Sol Strategies Inc. will become a SOL treasury company listed on both US and Canadian stock exchanges.
The stock price of Sol Strategies Inc. reached a peak of CAD 6.1 on January 22, 2025, but has since retreated.
SOL Global Investments Corp. (Canadian stock code: SOL)
Total reserves: 40,350 SOL (valued at approximately $5.9 million)
Stock price (as of June 26): CAD 0.075 (approximately $0.0546)
Market cap: CAD 10.08 million (approximately $7.34 million)
SOL Global Investments Corp. is a publicly traded investment company on the Canadian Securities Exchange. Previously, the company had a wide range of businesses, including retail (fast food and hotels), agriculture, technology (focusing on clean energy and electric vehicles), and cryptocurrency. However, at the end of 2024, the company announced plans to gradually divest non-blockchain assets and focus on Solana blockchain technology and token investments.
On February 4, 2025, SOL Global purchased 12,828 SOL at an average price of $192, increasing its holdings to 30,601 SOL. According to the latest data disclosed on its official website, SOL Global currently holds 40,350 SOL. The stock price of SOL Global reached a peak of $5.47 on January 20, 2025, but has since retreated.
MemeStrategy (Hong Kong stock code: 2440)
Total reserves: 2,440 SOL (valued at approximately $35.6)
Stock price (as of June 26): HKD 2.56 (approximately $0.326)
Market cap: HKD 816.83 million (approximately $104 million)
MemeStrategy is a publicly traded company in Hong Kong, originally named Hoi King Technology Holdings. Previously, the company primarily provided data transmission and processing services, covering industries such as IoT antennas, 5G devices and maintenance, service manufacturing, transportation, and energy. On April 1, 2025, Chen Zhancheng, co-founder of Memeland and 9GAG, completed a controlling acquisition of Hoi King Technology Holdings. On May 6, the company was renamed MemeStrategy, positioning itself as Asia's first publicly listed digital asset ecosystem company.
On June 16, MemeStrategy announced that it had purchased 2,440 SOL through the licensed crypto asset platform OSL Group for approximately HKD 2.9 million (about $368,800), with a transaction average price of about $151.7. Following the announcement of the purchase, its stock price peaked at HKD 2.72 on June 24, with no significant retreat observed.
BNB Treasury Public Companies
Nano Labs Ltd (US stock code: NA)
Total reserves: Not disclosed
Stock price (as of June 26): $11.35
Market cap: $194.59 million
Nano Labs is a Nasdaq-listed company that has primarily engaged in the design and provision of foundry-free integrated circuit product solutions since its establishment in 2019, while also having businesses in Nano, iPollo, iPolloverse, and the metaverse.
On June 24, Nano Labs announced that it had signed a convertible bond subscription agreement, and the company will issue convertible promissory bonds with a total principal of $500 million for its BNB reserve strategy. It also stated that the first phase plan is to acquire $1 billion worth of BNB through convertible bonds and private placements, with a long-term goal of holding 5% to 10% of the total circulating supply of BNB.
Although purchases have not officially begun, the news caused Nano Labs' stock price to surge, with a single-day increase of over 36%.
Tron Treasury Public Companies
SRM Entertainment, Inc. (US stock code: SRM)
Total reserves: Not disclosed
Stock price (as of June 26): $8.68
Market cap: $154.8 million
SRM Entertainment, Inc. is a Nasdaq-listed company established in 2022, primarily engaged in the design, manufacturing, and sales of toys, souvenirs, and plush toys. On June 16, SRM announced that it had signed a securities purchase agreement (SPA) with a private investor to raise $100 million, which SRM will use to initiate a Tron token (TRX) treasury strategy.
At the same time, the company will change its name to Tron Inc. According to SEC filings, Sun Yuchen's father, Sun Weike, gained control of the publicly listed SRM Entertainment through a PIPE transaction involving $100 million worth of TRX tokens. After the transaction is completed, Sun Weike will serve as the chairman of the board, and Tron executives will join the audit, compensation, and nomination committees. The company plans to hold up to $210 million in TRX as strategic assets, but purchases have not yet begun.
Following the announcement of TRX reserves, SRM's stock price rose to $8.72 on the same day and reached a peak of $11.39 on June 20, but has since retreated.
Ripple Treasury Public Companies
Trident Digital Tech Holdings Ltd. (US stock code: TDTH)
Total reserves: Not disclosed
Stock price (as of June 26): $0.233
Market cap: $16.77 million
Trident Digital Tech Holdings Ltd. is a Nasdaq-listed company that previously focused on providing business consulting services and customized information technology solutions.
On June 12, Trident announced that it would raise $500 million through various means, including issuing stock, strategic placements, and structured financing tools, to establish an XRP treasury, which is expected to launch in the second half of 2025. Chaince Securities LLC has been appointed as the strategic advisor. The plan will focus on acquiring XRP tokens as a long-term strategic reserve, deploying staking mechanisms to generate returns, and deeply engaging in the Ripple ecosystem.
However, perhaps due to the lack of actual action, its stock price has not shown significant fluctuations.
VivoPower International (US stock code: VVPR)
Total reserves: Not disclosed
Stock price (as of June 26): $3.67
Market cap: $37.11 million
VivoPower International is a Nasdaq-listed company focused on sustainable energy solutions, with primary businesses covering critical power services, electric vehicles, sustainable energy solutions, solar development, and corporate offices.
On May 29, VivoPower International filed documents with the US Securities and Exchange Commission (SEC) stating its plan to raise $121 million to initiate a crypto treasury asset strategy centered on XRP. This financing is led by Saudi Prince Abdulaziz bin Turki Abdulaziz Al Saud, who serves as the chairman of Eleventh Holding.
However, after this announcement, the company's stock price fell sharply.
Wellgistics Health (US stock code: WGRX)
Total reserves: Not disclosed
Stock price (as of June 26): $0.92
Market cap: $66.11 million
Wellgistics Health is a Nasdaq-listed company primarily engaged in pharmaceuticals and healthcare services, with a business portfolio that includes pharmacies, wholesale operations, and technology sectors. However, the company has faced consecutive losses from 2023 to 2024, with poor operating conditions.
On May 8, Wellgistics Health announced the use of XRP as a funding reserve and real-time payment infrastructure. This XRP payment plan is supported by Wellgistics Health's $50 million equity credit line (ELOC), which can be used for further development and release of programmable liquidity and on-demand financial infrastructure, eliminating banking delays, reducing costs, and increasing transparency within its national healthcare network.
However, this announcement did not lead to an increase in its stock price.
Webus International (US stock code: WETO)
Total reserves: Not disclosed
Stock price (as of June 26): $2.27
Market cap: $49.94 million
Webus International is a Nasdaq-listed company primarily engaged in providing commuting shuttles, customized charter services, packaged travel, and other travel services. The company has been in a loss position from 2022 to 2024.
On May 30, Webus International announced plans to raise up to $300 million through non-equity financing to establish an XRP strategic reserve and integrate it into a global charter payment network.
Following this news, Webus International's stock price surged to $3.3, but then began to fluctuate downward.
Hyperliquid Treasury Company
Eyenovia (US stock code: EYEN)
Total reserves: 1,040,584.5 HYPE (valued at approximately $38.5 million)
Stock price (as of June 26): $9.55
Market cap: $27.53 million
Eyenovia is a Nasdaq-listed company that has primarily engaged in the research and development of ophthalmic products since its establishment in 2014. Its products include MicroProst, MicroStat, MicroTears, and MicroPine, while also focusing on the development of microdoses for treating presbyopia, myopia, and mydriasis. However, the company reported a net loss of $50 million in 2024, with depleted cash flow, and is facing imminent delisting.
On June 17, Eyenovia completed a $50 million financing and launched a treasury strategy for the HYPE token, becoming the first publicly listed company in the United States to include HYPE in its balance sheet. The company also plans to change its name to Hyperion DeFi, and its stock code will be updated to HYPD. Following this announcement, Eyenovia's stock price surged by 134% in a single day, reaching a new high of $9.02 as of June 25.
On June 23, Eyenovia announced the completion of a $50 million private placement and purchased 1,040,584.5 HYPE at an average price of $34.
Lion Group Holding Ltd. (US stock code: LGHL)
Total reserves: Not disclosed
Stock price (as of June 26): $2.57
Market cap: $2.02 million
Lion Group Holding Ltd. is a Nasdaq-listed company that operates a securities trading platform, primarily providing futures and securities brokerage services, contract for difference (CFD) trading, total return swap (TRS) trading, and over-the-counter stock options trading. However, the company's operating conditions have not been ideal, with consecutive losses from 2020 to 2024 and tight cash flow.
On June 19, Lion Group Holding announced that it had secured $600 million in funding support, designating HYPE as its primary reserve asset, and is launching a next-generation Layer 1 treasury alongside SOL and SUI. However, perhaps due to the lack of substantial action, the company's stock price did not experience significant fluctuations following the announcement.
Conclusion
This summer, the altcoin season may indeed be upon us, albeit under a different stock shell. Although some publicly listed companies that have announced altcoin treasury strategies have experienced a round of dramatic price fluctuations, and the quality of these companies varies, with some even on the brink of collapse, this liquidity feast is far from over.
New asset classes and narratives are more likely to trigger a bull market. While the concepts of coin-stock conversion and crypto treasury strategies are not newly born ideas, factors such as the gradual relaxation of global crypto regulations, increased acceptance of crypto in traditional markets, and the surge of crypto company IPOs are brewing, making it likely that crypto concept stocks will genuinely attract traditional stock investors to "take over." A bull market for coin-stocks under a compliant backdrop is expected to erupt this summer.
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