TLDR
- Digital asset treasuries are preparing to expand beyond holding Bitcoin and Ethereum alone.
- Industry executives predict treasuries will offer tokenized real-world assets and yield-generating instruments.
- Bitwise tracked 48 new instances of Bitcoin additions to corporate balance sheets in Q3 2024.
- Future treasury assets may include renewable energy credits, supply chain assets, and carbon reduction mechanisms.
- Stablecoins and tokenized money market funds are expected to drive the next wave of treasury adoption.
Digital asset treasuries are preparing to expand beyond holding Bitcoin and Ethereum alone. Industry executives predict these firms will soon offer tokenized real-world assets and yield-generating instruments. This shift could transform how companies manage their balance sheets in the blockchain era.
Crypto Treasuries Set to Diversify Holdings
Maja Vujinovic leads Ether treasury company FG Nexus as CEO. She believes the next phase involves turning balance sheets into active networks. These networks can stake, restake, lend, or tokenize capital under transparent conditions.
“The lines between a treasury and a protocol balance sheet are already blurring,” Vujinovic said. She added that firms treating crypto treasuries as productive ecosystems will outperform those that do not. The number of digital asset treasuries has skyrocketed this year.
Bitwise tracked 48 new instances of Bitcoin additions to balance sheets in Q3 alone. Companies are moving beyond static storage models. Meanwhile, the market continues to evolve with new asset types entering consideration.
There are almost 40% more public companies holding bitcoin today than there were 3 months ago.
Companies Are Buying Bitcoin, Q3 2025 Edition: pic.twitter.com/R6m1kyaP0H
— Bitwise (@BitwiseInvest) October 14, 2025
Real-World Assets Enter Treasury Conversations
Sandro Gonzalez co-founded KWARXS, a Cardano-based project linking solar infrastructure to blockchain. He predicts crypto treasuries will shift from speculative storage to strategic allocation. Future adoption will include assets tied to tangible outputs, such as renewable energy.
“Over time, this will redefine how organizations think about balance sheets,” Gonzalez said. He believes treasuries will become instruments for measurable contributions to economic activity. Supply chain assets and carbon reduction mechanisms may also be included in treasury portfolios.
Brian Huang serves as CEO of crypto investment platform Glider. He stated that treasury asset decisions are limited only by onchain availability. Tokenized stocks and real-world assets represent obvious inclusion candidates for digital asset treasuries.
Huang noted that gold has surged this year. He explained that holding tokenized gold is easier than managing physical gold. Illiquid investments, such as NFTs and tokenized real estate, also present opportunities.
Stablecoins and Tokenized Securities Gain Ground
John Hallahan directs business solutions at Fireblocks, a digital asset custody platform. He predicts increased adoption of stablecoins and tokenized money market funds. Cash equivalent instruments will drive the next adoption wave for crypto treasuries.
Longer-term projections include the issuance of more securities onchain. These may consist of corporate debt and physical assets, such as real estate. Unique assets, such as real estate, may be represented by non-fungible tokens.
GameSquare Holdings bought a Cowboy Ape NFT for $5.15 million in July. The digital media company described this as a strategic investment, alongside Ether purchases. This demonstrates how some firms have already begun to embrace unconventional treasury assets.
Nicolai Søndergaard analyzes research at the onchain analytics platform Nansen. He said legislation and company risk appetite will dictate future asset adoption. Companies may add assets that were previously considered impossible as treasury holdings.
Liquidity and Regulation Shape Asset Selection
Marcin Kazmierczak co-founded RedStone, a blockchain oracle provider. He explained that any tokenized asset can become a treasury reserve. However, accounting, regulation, and fiduciary duty determine actual adoption patterns.
Bitcoin and Ethereum holdings are straightforward for auditors and boards to process. NFTs require appraisal methodologies that most frameworks lack. Crypto treasuries must hold assets that maintain value and offer liquidity when needed.
“That’s easier with Bitcoin than with a speculative NFT,” Kazmierczak said. The limit exists where liquidity dries up and boards cannot justify holdings. Long-term adoption beyond top cryptocurrencies may remain marginal for traditional companies.
Kazmierczak expects risk-adjusted returns won’t justify moves for most boards. Pure Web3 assets will likely remain experimental for crypto-native companies. Tokenized real-world assets might gain traction if legal frameworks become clearer.
Yield-bearing bonds and commodities offer inherent value propositions. These assets don’t depend solely on market sentiment. This makes them attractive candidates for future treasury diversification efforts.
