- Michael Novogratz reports a plateau in crypto treasury additions during earnings call.
- Corporate interest shifting towards sustainability and scaling activities.
- Impact likely on Ethereum due to decreased supply from ongoing corporate purchases.
Michael Novogratz, CEO of Galaxy Digital, announced during the Q2 2025 earnings call that corporate crypto treasury accumulation has plateaued, shifting focus to sustainability and scaling potential.
The plateau affects major crypto assets like Bitcoin and Ethereum, guiding shifts in industry strategies and narratives, with institutional interest evolving amid supply constraints.
Michael Novogratz, CEO of Galaxy Digital, noted during the Q2 2025 earnings call that companies are slowing in adding Bitcoin and Ethereum to treasuries. This signals a shift towards focusing on scaling existing holdings.
Michael Novogratz highlighted that this trend marks an end to the initial burst of crypto treasury investments. While companies like BitMine and SharpLink still participate, interest now centers on firms maximizing their existing assets.
The stabilization affects major cryptocurrencies, potentially reducing available market supply of Ethereum. This trend may boost Ethereum’s price as its demand outweighs supply. Institutional portfolios are diversifying beyond traditional assets.
Financial implications revolve around Ethereum’s supply constraints. As major players acquire more, small shifts could impact market price. Long-term industry narratives are changing towards asset sustainability, scaling over new acquisitions.
The new focus is reshaping how companies approach crypto investment. The market is experiencing a strategic shift with implications on price stability and industry trends. Shortages in available Ethereum underline the importance of strategic planning.
Future outcomes could include stronger competition among firms scaling existing treasury holdings. Institutional strategies may evolve alongside regulatory developments. Monitoring these shifts could inform future cryptocurrency investments and project success.
“The initial wave of new entrants into the [crypto treasury] space may have already peaked, with attention now shifting to which existing firms can scale and dominate in the long term.” — Michael Novogratz, CEO, Galaxy Digital
