Crypto Stock Barometer丨Strategy Records Rare Zero Purchases, Global Listed Companies' Net Bitcoin Buying Plummets 99.93% Last Week; Bitmine Currently Holds 3.92% of ETH Supply (March 31)
- Core View: Affected by geopolitical tensions, the cryptocurrency-related stock market is generally under pressure, with investors' risk aversion sentiment heating up. Listed companies' strategic purchases of Bitcoin have nearly stalled, but some companies are still increasing their holdings of other crypto assets.
- Key Elements:
- Geopolitical conflicts have led investors to turn to cash for safety, with fund managers seeing the largest increase in cash holdings in six years. The momentum of systematic stock selling may be weakening.
- Ark Invest sold off a large amount of tech stocks and crypto-related assets last week, including approximately $11 million worth of its own Bitcoin ETF (ARKB).
- Net Bitcoin purchases by global listed companies (excluding miners) plummeted 99.93% last week to only $70,000, with representative company Strategy recording a rare zero purchase.
- Some companies have shifted to increasing holdings of other crypto assets. For example, Bitmine increased its holdings by 71,100 ETH, Artelo Biosciences completed financing and holds SOL, and OceanPal disclosed holding a significant amount of NEAR tokens.
- New developments have emerged in the stablecoin sector, with NovaBay Pharmaceuticals undergoing a transformation and spending over $100 million to increase its holdings of SKY, the governance token of the decentralized stablecoin protocol Sky.
Editor's Note: The US-Iran conflict continues, with local hot wars putting sustained pressure on US stocks and the crypto market. Crypto mining companies, whether accelerating their AI transformation or holding firm in mining, saw their stock prices decline over the past week. Meanwhile, influenced by news such as the potential restrictions on stablecoin yields from the CLARITY Act, Circle's stock price plummeted below $100; stock prices of BTC and ETH treasury companies like Strategy, Bitmine, and Sharplink also fell sharply, hitting monthly lows. Additionally, Cathie Wood's Ark Invest broke from its usual pattern, selling off large amounts of tech stocks, crypto ETFs, and crypto-related stocks last week. For now, holding cash might be the best strategy to cope with the continued closure of the Strait of Hormuz and the escalating US-Iran tensions.
Below is a summary of last week's crypto stock market information compiled by Odaily. All US stock data is sourced frommsx.com.
Amid Geopolitical Shocks, Investors Need Multiple Defensive Measures
Investors Replicate 2022's "Dump Stocks and Bonds, Hoard Cash" Move as Risk-Off Sentiment Heats Up
To hedge against risks from the Iran war, investors are selling stocks and bonds and increasing their cash holdings again, mirroring the strategy seen after Russia's invasion of Ukraine in 2022. Bank of America's latest survey of fund managers this month shows the largest jump in cash allocations among fund managers in six years. Meanwhile, JPMorgan strategists said this week that position adjustments in response to the conflict may be far from over. The team led by Nikolaos Panigirtzoglou stated in a report that as long as geopolitical and macro uncertainties remain high, the current cash allocation, still below historical levels, will pose a headwind for future stock and bond markets. Investors have been simultaneously selling stocks, bonds, and gold, preferring to increase cash holdings. However, compared to the outbreak of the Russia-Ukraine conflict, cash levels in portfolios remain moderate.
Cathie Wood's Ark Invest Sold Off Tech Stocks and Bitcoin ETF Heavily Last Week
Ark Invest sold approximately $41 million worth of Meta stock and over $26 million worth of Nvidia stock last Thursday (local time, March 27). Additionally, the firm sold about $11 million worth of its own Bitcoin ETF (ARKB) shares, roughly $6.5 million worth of shares in the crypto exchange Bullish, and nearly $5 million worth of shares in Jack Dorsey's company Block. Ark Invest also reduced its holdings of Alphabet stock by about $2.5 million and AMD stock by about $7.5 million.
Momentum of Systematic Selling of US Stocks May Be Weakening, Market Brewing a Rebound
The Kobeissi Letter posted that the momentum of systematic selling of US stocks may be weakening. Algorithm-driven funds, Commodity Trading Advisors (CTAs), sold $85 billion worth of US stocks over the past 30 trading days, marking the largest 30-day selling spree since the 2020 pandemic, when CTAs sold $105 billion. In comparison, the adjustment from March to April 2025 resulted in $80 billion in sales. Currently, CTAs hold $37 billion in short positions on US stocks, the third-highest level since 2019. Meanwhile, Goldman Sachs estimates that over the next month, regardless of market conditions, CTAs will be buyers, suggesting the market is brewing a rebound.
Weekly Updates on Listed Crypto Companies
Representative BTC Treasury Listed Companies
According to SoSoValue data, as of 8:00 AM EST on March 30, 2026, the total weekly net Bitcoin purchases by global listed companies (excluding mining companies) last week were $70,000, a decrease of 99.93% compared to the previous week.
Strategy (formerly MicroStrategy) did not announce any Bitcoin purchases.
Japanese listed company Metaplanet did not purchase Bitcoin last week, marking eleven consecutive weeks without a purchase.
Furthermore, one other company purchased Bitcoin last week: UK-based Bitcoin company BHODL announced on March 26 an investment of $72,832 to purchase 1 Bitcoin.
Swedish health tech company H100 plans to acquire Norwegian companies Moonshot AS and Never Say Die AS through an all-stock transaction, aiming to increase its Bitcoin holdings to 3,501 BTC. French Bitcoin asset company Capital B announced the completion of a €2.8 million financing round to advance Bitcoin purchases.
As of press time, the total Bitcoin holdings of the tracked global listed companies (excluding mining companies) amounted to 1,023,333 BTC, an increase of 0.000098% from the previous week. The current market value is approximately $69.39 billion, representing 5.1% of Bitcoin's circulating market cap.
Representative ETH Treasury Listed Companies
Bitmine Increased ETH Holdings by 71,100 Last Week, Now Holds 3.92% of ETH Supply
Tom Lee and Bitmine increased their ETH holdings by 71,100 last week. Bitmine stated that it currently holds 3.92% of the ETH token supply.
Representative SOL Treasury Listed Companies
Solana Treasury Company Artelo Biosciences Completes $11 Million Private Placement
On March 29, Nasdaq-listed Solana treasury company Artelo Biosciences announced the sale of a total of 3,188,407 shares of common stock at $3.45 per share via a private placement, raising a total of $11 million. The new funds will be used for general corporate purposes and to repay part of its bridge debt. According to the latest data from StrategicSolanaReserve, Artelo currently holds 45,883 SOL.
Representative Altcoin Treasury Listed Companies
US-Listed Company OceanPal Discloses Holdings of Approximately 51.3 Million NEAR Tokens
According to PRNewswire, Nasdaq-listed digital asset management operator OceanPal released its annual financial report, disclosing that its balance sheet holds approximately 51.3 million NEAR tokens, with an additional 2.85 million NEAR tokens held as collateral for derivative positions.
Hyperion DeFi Discloses Holdings of Over 1.93 Million HYPE, 1.92 Million KNTQ, and 1 Million HPL
Nasdaq-listed company Hyperion DeFi announced its annual financial performance report, disclosing that as of March 23, its digital asset treasury holds over 1.93 million HYPE (approximately $73.9 million based on an average price of $38.2), 1.92 million KNTQ, and 1 million HPL. Hyperion DeFi stated that the company earned 8,713 HYPE tokens as staking rewards in Q4 last year, a 17% increase from the 7,437 HYPE token rewards in Q3.
Listed Company Tron: TRX Treasury Holdings Exceed 688.5 Million, Added 160,800 TRX on the 26th
Listed company Tron Inc. announced that on March 26, it purchased 160,800 TRX at an average price of $0.3109, increasing its TRX treasury holdings to over 688.5 million. Tron Inc. (TEySE...9mT) plans to further increase its Tron DAT holdings to enhance long-term shareholder value.
SDEV Invests Over $100 Million to Increase SKY Token Holdings, Now Holds Approximately 8.78%
Nasdaq-listed company NovaBay Pharmaceuticals has changed its name to Stablecoin Development Corporation (stock ticker changed from NBY to SDEV), shifting its business focus to crypto and stablecoin-related areas.
The company previously completed a private placement of approximately $134 million and used the majority of the funds to increase its holdings of SKY, the governance token of the decentralized stablecoin protocol Sky. It currently holds approximately 2.06 billion SKY, representing about 8.78% of the total supply, with a corresponding market value of approximately $147 million. Part of these were purchased on the secondary market at an average price of around $0.065. Additionally, the company has begun staking SKY to earn yields, accumulating approximately 26.6 million SKY as staking rewards.
