"Coin Stocks" Become Popular Targets in Global Stock Markets, Comprehensive Analysis of 44 Major Players' Layouts

Cryptographic assets are sweeping the global capital markets. From trading platform giants to corporate Bitcoin buyers, and to mining companies and on-chain financial hybrids, an increasing number of publicly listed companies are turning cryptographic assets and blockchain technology into a new narrative engine driving stock price increases.

To reveal the capital logic and development trends behind this wave, we conducted an in-depth analysis of 44 representative listed companies worldwide and summarized five key tracks based on their core cryptocurrency business attributes.

• Cryptocurrency Trading Platform: The Core Hub of the Market
• Stablecoin issuers: Bridging the gap between traditional and crypto
• Crypto asset heavyweights: "digital gold" on the balance sheet
• Blockchain Technology and DeFi Pioneers: Building the Future Financial Infrastructure
• Crypto Mining Enterprises: Guardians of Computing Power and Value

This article will analyze the representative companies and core logic of these five major camps one by one, helping readers accurately grasp the next wave of profits in the crypto capital market and plan ahead for this narrative trend.

Cryptocurrency Trading Platform: The Core Hub of the Market

Coinbase Global(NASDAQ:COIN)

Coinbase Global is a compliant cryptocurrency exchange in the United States, established in 2012. It offers services for buying, selling, transferring, and storing cryptocurrencies, catering to retail investors, institutions, businesses, and developers.

As of the first quarter of 2025, Coinbase and Circle jointly established the USDC stablecoin, holding 9,267 BTC and 137,334 ETH.

Bakkt( US Stocks: BKKT)

Bakkt was launched in 2018 by Intercontinental Exchange (, the parent company of the New York Stock Exchange, focusing on digital asset custody, trading, and infrastructure services, primarily targeting institutional investors. It provides a trading and storage platform for cryptocurrencies such as Bitcoin, emphasizing compliance and security.

In June 2025, Bakkt will update its investment policy and plans to allocate funds to digital assets such as Bitcoin based on market conditions. At the same time, it will explore financing options such as issuing convertible notes and bonds for the acquisition of Bitcoin or other digital asset investments.

Robinhood) US Stock: HOOD(

Robinhood Markets is a financial services company in the United States, founded in 2013, known for its commission-free trading platform. It has now expanded into cryptocurrency trading and is actively exploring the RWA direction. It supports trading of assets such as Bitcoin and Ethereum and participates in the Global Dollar Network, promoting the USDG stablecoin pegged to the US dollar.

On May 20, Robinhood submitted a proposal to the SEC to create a federal framework for tokenizing real-world assets in order to modernize the U.S. securities market.

On June 3, Robinhood completed a $200 million acquisition of the Luxembourg cryptocurrency exchange Bitstamp, adding more than 50 licenses and qualifications to its crypto business and bringing in a mature institutional client base.

OSL Group) HK Stock: 0863(

OSL Group is a licensed and compliant digital asset platform headquartered in Hong Kong, established in 2018, and is one of the regulated cryptocurrency exchanges in Asia. It provides cryptocurrency trading, custody, and compliance solutions for institutional and retail clients, including secure digital asset storage, brokerage services, and blockchain-integrated SaaS solutions.

Guotai Junan International ) Hong Kong stocks: 1788(

Guotai Junan International Holdings Limited is a financial services company headquartered in Hong Kong, established in 2007, and is a subsidiary of Guotai Junan Securities. Its business includes brokerage, corporate finance, asset management, and wealth management. It has explored blockchain and digital asset opportunities to adapt to the growing trend of cryptocurrencies in Asia.

On June 24, it was approved by the Hong Kong Securities and Futures Commission to upgrade the existing securities trading license to provide virtual asset trading services and related opinions. After the upgrade, clients can directly trade cryptocurrencies such as Bitcoin, Ethereum, and stablecoins on their platform. Guotai Junan International becomes the first Hong Kong Chinese-funded brokerage to offer comprehensive virtual asset-related trading services.

OK Blockchain ) Hong Kong Stock: 1499(

OKLink) is a blockchain technology company in China, affiliated with the OK Group, established in 2016. It focuses on blockchain infrastructure, data analysis, and financial services, providing solutions such as blockchain explorers, anti-money laundering ( AML) tools, and stablecoin settlement networks. Its blockchain analysis platform supports transaction tracking and compliance checks. It provides technical support for exchanges, institutions, and developers, promoting global cryptocurrency adoption.

Stablecoin Issuers: Bridging the Gap Between Traditional and Crypto

Circle Internet Group(NASDAQ:CRCL)

Circle Internet Group is a financial technology company based in the United States, founded in 2013. In 2018, it collaborated with Coinbase to issue the USDC stablecoin. In 2025, it raised $1.05 billion through an IPO, with the stock price soaring 168% on the first day of trading, reaching a valuation of $6.8 billion. Circle focuses on stablecoin payment and trading infrastructure. USDC is the second-largest stablecoin, next to Tether USDT, and is widely used as a bridge currency.

JD Coin Chain Technology ( Hong Kong Stock: 9618)

JD Coin Chain Technology is affiliated with Chinese e-commerce giant JD.com, focusing on the application of blockchain technology in supply chain management, finance, and data security. It develops blockchain applications to enhance the transparency and efficiency of product traceability and anti-counterfeiting, while exploring global payments and the JD stablecoin sector.

On May 23, Liu Peng, CEO of Jingdong Coin Chain Technology, stated that the first phase of Jingdong's stablecoin is tentatively set to issue stablecoins pegged to the Hong Kong dollar and the US dollar, with specific circumstances adjusted based on regulatory and market demand. Jingdong's stablecoin has entered the second phase of sandbox testing, which will provide mobile and PC application products for retail and institutional users. The testing scenarios mainly include cross-border payments, investment trading, and retail payments.

Xiongan Technology ( Hong Kong Stock: 1647)

Xiong'an Technology is a Chinese company based in the Xiong'an New Area that focuses on blockchain and financial technology solutions. It develops blockchain platforms for smart city applications, financial services, and data management, aligning with China's strategy to promote the application of blockchain in government and enterprises. Its subsidiary "Xiong'an Fund" has previously invested in stablecoin infrastructure.

Crypto Asset Heavyweights: "Digital Gold" on the Balance Sheet

MicroStrategy( Stock: MSTR)

MicroStrategy Incorporated is an American business intelligence company, founded in 1989. Since August 2020, under the leadership of CEO Michael Saylor, the company has held nearly 580,000 coins, making it the largest corporate holder of Bitcoin in the world. MicroStrategy views Bitcoin as an anti-inflation asset, and its stock price has increased by 4315.85% since the initial purchase of BTC. Although its core business is analytics software, the Bitcoin reserve strategy has reshaped its valuation and market image.

Tesla(US Stock:TSLA)

Tesla is an American electric vehicle and clean energy company founded by Elon Musk in 2003. In 2021, it purchased $1.5 billion in Bitcoin and accepted it as a payment method, later selling most of its holdings. Tesla's cryptocurrency attempts sparked a wave of corporate adoption of crypto assets, but its main business still focuses on cars and renewable energy, with a market value exceeding $1 trillion.

GameStop Corp.(US Stock:GME)

GameStop Corp. is an American retail company, founded in 1984, focusing on video games, electronics, and gaming accessories. It became famous in 2021 due to a surge in stock prices driven by retail investors. GameStop launched an NFT marketplace in 2022, exploring blockchain and digital collectibles, and holds Bitcoin as part of its cryptocurrency reserve strategy, following MicroStrategy to enhance market attention.

Meitu( HK Stock: 1357)

Meitu Inc. is a Chinese technology company that provides photo editing and social media application services, founded in 2008. In 2021, it invested in Bitcoin and Ethereum to diversify its asset reserves. This move aligns with its strategy of embracing digital innovation and complements its core business in AI-driven imaging and beauty technology.

Trump Media & Technology Group(US Stock: DJT)

Trump Media & Technology Group(TMTG) is an American media company founded in 2021, operating the Truth Social platform. The company adopts a bitcoin reserve strategy, aiming to hold $2.3 billion worth of crypto assets, which may reshape TMTG's valuation narrative, even though its main business focuses on social media and content creation.

Metaplanet( Stock:3350)

Metaplanet is a publicly listed company in Japan that adopts a Bitcoin-centric strategy, following the example of MicroStrategy. In 2024, it plans to allocate $5 billion to its US subsidiary, with a goal of acquiring 210,000 BTC by 2027. Currently, it holds 12,345 BTC. Against the backdrop of its core business not being particularly prominent, its crypto reserves have successfully dominated its market narrative.

SharpLink Gaming(NASDAQ:SBET)

SharpLink Gaming is a U.S. online gaming and betting technology company. After facing delisting risks in 2024 due to poor performance, it announced Ethereum as its primary reserve asset and secured a $425 million financing agreement, resulting in a stock price surge of 1747.62%, making it the largest publicly listed holder of Ethereum, with a current holding of 188,478 ETH. SharpLink has partnered with ConsenSys to gain support from the Ethereum ecosystem, potentially becoming a latest case study on how crypto reserves can revitalize distressed companies.

Cantor Equity Partners(US Stock: CEP)

Cantor Equity Partners is a financial services company in the United States that has adopted a Bitcoin reserve strategy after merging with Twenty One Capital, aiming to hold $3 billion worth of crypto assets. With the support of Tether, SoftBank, and Brandon Lutnick, it continues to focus on investment and consulting services, attracting capital market attention and driving valuation growth through crypto strategies.

NextTech Holding(NASDAQ:NXTT)

Next Technology Holding Inc. is a diversified SaaS technology service company based in Beijing, China, founded in 2019. It primarily provides technology services and solutions in mainland China through social e-commerce platforms. The company also offers AI software development and technical support services to clients in the United States, Hong Kong, China, and Singapore.

The company holds Bitcoin as a reserve, completing a transaction of 5000 coins on March 12, 2025, issuing stocks and warrants, increasing total outstanding shares to 436 million. As of now, the total reserve is 5833 coins.

Asset Entities(US Stocks: ASST)

Asset Entities is a digital marketing and content creation company based in the United States, established on March 9, 2022, and listed on NASDAQ on February 3, 2023. It primarily offers social media marketing and content delivery services, with service platforms including Discord, TikTok, and others. The company also designs, develops, and manages Discord servers for clients under the "AE.360.DDM" brand.

On May 7, 2025, Asset Entities Inc. announced that it has reached a final merger agreement with Strive Asset Management. The merged company will operate under the Strive brand, continue to be listed on NASDAQ, and become a publicly traded Bitcoin financial company. The new company will focus on maximizing Bitcoin exposure per share, with the long-term goal of outperforming Bitcoin and maximizing value for common shareholders.

ATIF Holdings Limited(US Stock: ATIF)

ATIF Holdings Limited is a financial consulting company based in the United States, founded in 2015 and headquartered in Los Angeles, California. It provides professional IPO listing consulting services, merger and acquisition consulting, and post-IPO compliance services for small and medium-sized enterprises seeking to list on U.S. stock exchanges, with its business market primarily distributed in Asia and North America.

In June 2025, ATIF Holdings Ltd announced a plan to issue additional shares to raise $100 million for the purchase of Dogecoin ( DOGE ) as part of the company's financial reserve investments. If the plan is realized, it will become the first major publicly traded company in the US to invest in and hold Meme coins. The company also plans to continue purchasing mainstream Meme coins as part of its long-term digital asset strategy.

Brooker Group Public Company(Thai Stock: BTC)

Brooker Group is a financial consulting and investment company in Thailand, listed on the Stock Exchange of Thailand. Its core business is to provide consulting, real estate, and investment management services. It is also the first listed company in Thailand to hold various crypto assets such as Bitcoin and Ethereum, with the specific number yet to be disclosed.

SRM Entertainment, Inc.(US Stock: SRM)

SRM Entertainment, Inc. is a publicly traded American company listed on Nasdaq. Originally a manufacturer of toys and theme park souvenirs, it has a market value of approximately $140 million, focusing on custom plush toys, mugs, and other products. In 2025, it announced that it would use TRON's TRX as its core reserve asset, receiving support from TRON founder Justin Sun.

On June 16, 2025, SRM announced a reverse merger with the Tron blockchain group led by Justin Sun, planning to rename the company to "