Monthly inflows into digital asset treasury companies have dropped to roughly $555 million, marking the lowest level since October 2024, according to data from DeFiLlama.
The slowdown follows a surge after the 2024 US election, when pro-crypto regulatory expectations helped push treasury inflows above $12.3 billion.
Bitcoin has continued to dominate corporate treasury allocations, with most companies concentrating their digital asset holdings in the largest cryptocurrency.
However, inflows into treasury firms contracted throughout 2025 and fell sharply again after the crypto market crash in October triggered a prolonged bear market.
“Corporate Bitcoin treasuries now need to show they can actually use the asset, not just warehouse it,”
Said Zeta Network Group chief investment officer, Patrick Ngan.
Analysts say companies holding large crypto treasuries may need to diversify strategies by generating revenue through staking, mining or decentralised finance lending.
The shift comes as investors question whether treasury firms that simply accumulate digital assets can remain competitive without broader business models.
At the time of reporting, Bitcoin price was $72,472.09.