Corporate Treasuries Slow Down on BTC Purchases Amid Market Uncertainty

Bitcoin corporate treasuries have seen a significant decline in purchases over the past three months. According to onchain analytics platform Glassnode, listed companies added only around 5,900 BTC during this period, which is less than 7% of their purchases in July 2025 alone when they bought 89,000 BTC.

This trend highlights a change in sentiment among corporate treasuries as the current market conditions leave investors uncertain about Bitcoin's price strength going forward. Glassnode notes that for extant corporate treasuries, profitability remains lacking with their average entry cost basis sitting at $80,500, which is about 6% above spot prices.

Data shows that there have only been two attempts to reclaim the cost basis this year, both of which were unsuccessful. Glassnode attributes this trend to a 'market in waiting' where capital inflows are stalling. The US Federal Reserve's interest-rate hike and changes in macro conditions may also be contributing factors.

The trend is further supported by the performance of Bitcoin exchange-traded products (ETPs), which saw net outflows of $462.7 million in the five trading days through September 11, reversing a previous trend of three consecutive weeks of net inflows.