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Corporate cryptocurrency treasuries are no longer just holding Bitcoin and Ether — they’re increasingly staking those assets, lending them out for yield, and diversifying into tokenized real-world assets like gold, solar energy credits and US Treasury bonds, according to treasury managers and blockchain executives.
The shift marks a fundamental change in how companies treat digital asset reserves, moving from passive storage to active yield generation through decentralized finance protocols.
Bitwise Asset Management reported that 48 new institutions added Bitcoin to their balance sheets in Q3 2025 alone, while firms like GameSquare Holdings have invested millions in NFTs and other experimental crypto assets.
“The next phase of Web3 treasuries is about turning balance sheets into active networks that can stake, restake, lend, or tokenize capital under transparent, auditable conditions,” said Maja Vujinovic, CEO of FG Nexus, a firm managing Ether-based corporate treasuries. “The lines between a treasury and a protocol balance sheet are already blurring, and the firms that treat treasuries as productive, onchain ecosystems will be the ones that outperform.”
As decentralized finance matures, digital asset treasuries are increasingly seen as strategic tools for sustainability and yield generation rather than speculative crypto storage.
Sandro Gonzalez, co-founder of the KWARXS Project, which links real-world solar infrastructure to blockchain networks, said the next wave of adoption will tie treasuries to tangible outcomes.
“The next wave of adoption will include assets that tie blockchain participation to tangible output such as renewable energy, supply chain assets, or carbon reduction mechanisms,” Gonzalez explained.
He added that this evolution will “redefine how organizations think about balance sheets in the Web3 era not just as stores of value, but as instruments for measurable, sustainable contribution to real economic activity.”
This approach aligns with a broader push in crypto to integrate tokenized versions of real-world assets (RWAs), including energy credits, real estate, and commodities, into blockchain systems which is a trend supported by regulators exploring frameworks for asset tokenization through bodies like the International Organization of Securities Commissions (IOSCO).
The definition of what qualifies as a treasury asset is rapidly broadening. Brian Huang, CEO of Glider, a crypto investment platform, emphasized that the only constraint is what assets can be recorded onchain.
“On-chain stocks and tokenized RWAs are the most obvious things to include in a treasury,” Huang said. “Gold has skyrocketed this year, and it’s easier to hold tokenized gold than physical gold. The limitation is just what assets are onchain.”
Similarly, John Hallahan, Director of Business Solutions at Fireblocks, predicted greater adoption of stablecoins, tokenized money market funds, and tokenized U.S. Treasurys. “The next wave of digital assets being adopted for treasury purposes will be cash-equivalent instruments,” he said. “Over time, we’ll see securities such as corporate debt and real estate represented onchain possibly through non-fungible tokens.”
Already, companies like GameSquare Holdings have taken early steps by investing millions into NFTs as strategic assets including a $5.15 million purchase of a “Cowboy Ape” NFT alongside Ether earlier this year.
Despite the enthusiasm, industry leaders caution that not all tokenized assets are suited for treasury use. Marcin Kazmierczak, co-founder of blockchain oracle provider RedStone, said the determining factors are liquidity, auditability, and regulatory clarity.
“A Bitcoin or Ethereum holding is straightforward for auditors and boards. An NFT requires an appraisal methodology that most frameworks don’t have standardized answers for,” Kazmierczak noted. “Treasuries must hold assets that maintain value and can be liquidated if needed that’s easier with Bitcoin than with a speculative NFT that might have limited buyers.”
Kazmierczak further predicted that beyond the top five cryptocurrencies, adoption will likely remain marginal among traditional firms. “Tokenized real assets may gain traction if legal frameworks clarify, but pure Web3 assets beyond the majors will remain experimental,” he said.
As regulatory frameworks mature and tokenization technology advances, digital asset treasuries could become a cornerstone of corporate finance offering liquidity, transparency, and yield generation through decentralized systems. Experts agree that the next phase will favor treasuries composed of yield-bearing, tokenized instruments such as bonds, commodities, and stablecoins.
With institutional adoption deepening and technology enabling broader tokenization, digital asset treasuries may soon redefine how corporations think about balance sheets shifting from passive crypto holdings to active, yield-generating networks that integrate directly with the real economy.
