Crypto bull run back on track: Wall Street’s juiciest picks

Crypto’s treasury narrative is having its moment amidst changes in market structure in the 2025 bull run. Bitcoin reached its new all-time high and subsequently experienced a price correction over the following days and weeks. Surprisingly, the state of the market did not discourage corporate giants and publicly traded firms from adding altcoins to their treasuries. 

Bitcoin treasury strategy applied to top altcoins 

President Donald Trump kicked off a treasury strategy, elevating Bitcoin’s (BTC) place to strategic reserve asset. Bitcoin treasury took off with Strategy’s playbook of adding BTC to their balance sheet. 

Following in Strategy’s footsteps, 159 public companies hold Bitcoin and a total of 277 firms added the crypto to their treasury. 3.6 million BTC tokens are now held in treasuries of different firms, according to data from BitcoinTreasuries.net. 

Several firms are currently experimenting with digital asset treasuries, shifting their outlook from traditional to the “Strategy way.” This week, firms from the agriculture, consumer manufacturing, and textile industries have announced their investment in Bitcoin, XRP, and Solana (SOL). 

Nature’s Miracle announced a $20 million allocation to XRP, one of the largest altcoin treasuries. Upexi, a consumer manufacturing company, added 83,000 SOL tokens valued at $16.5 million this week. Japanese firm Kitabo shared plans to buy $5.6 million in Bitcoin for the company’s reserve. 

Altcoins in the top 10 cryptocurrencies, ranked by market capitalization, are now on the balance sheets of publicly listed companies and firms worldwide, while altcoins ranking lower are still struggling to find a place in the treasury narrative. This is a key factor that differentiates the current market cycle and altcoin season from previous years. 

Wall Street treasury strategies: Ethereum, XRP and Solana 

Ethereum 

Wall Street firms and public companies that invested in Ethereum for the crypto treasury strategy have gained exposure to the largest altcoin through cash from their balance sheet. Among notable firms that adapted this strategy, BitMine Immersion Technologies stands out. The firm is led by FundStrat’s Tom Lee and owns over $1 billion or 300,000 Ether tokens.

Coinbase Global, the parent company of the Coinbase exchange has nearly $440 million in Ether, another giant holding ETH in their treasury. 

XRP

Vertical farming firm’s announcement of XRP as a treasury asset made headlines this week. Previously, Vivo Power and Chinese mobility startup WeBus shared plans to acquire XRP for their corporate treasuries. 

Solana

Nasdaq-listed firm DeFi Development Corp announced the acquisition of 141,383 SOL tokens in the past 10 days. The firm’s treasury holds 999,999 SOL and reports that $5 million is available for future purchases of the altcoin. 

The treasury strategy is key as it helps explain the rising demand for these altcoins, acts as a bullish catalyst for SOL and pushes token prices higher in the long term. 

Trump’s crypto report and what to expect 

Trump’s crypto task force is set to publish its report on July 30. The group finished their 180-day review of digital asset policy within the six-month mark. 

The group features officials from the Treasury, the Securities and Exchange Commission, the Commodity and Futures Trading Commission, and the Department of Justice, among other federal agencies, led by David Sacks, a Trump appointee. 

Bo Hines, executive director of the Presidential Working Group on Digital Asset Markets tweeted about the report:

As the report is unveiled, the group’s recommendations for digital asset regulation and the feasibility of a strategic crypto stockpile will be out, impacting Bitcoin, Ethereum, XRP, Solana and Cardano, among other tokens. 

A structured approach and regulation could drive the adoption of crypto. While traders wait on the sidelines for the altcoin season, higher demand for crypto across exchange platforms could support the thesis and pave the way for gains in alts in H2 2025. 

Ethereum’s big rally

Ethereum rallied over 50% in less than two weeks, surprising crypto traders who expected ETH to be “dead” given ETH’s underwhelming performance throughout 2025. However, Bitwise CIO Matt Hougan remains bullish on Ether and believes that the largest altcoin is in a strong position to extend its gains. 

Hougan responds to Ethereum ETF’s initial underwhelming performance, treasury firms are apeing into Ether, spending cash from their balance sheet to acquire ETH, expecting a gain in the token’s price. 

ETH eyes the $4,000 resistance and the December 2024 peak of $4,107 in July 2025. Demand for the altcoin is absorbing the newly issued Ether and traders’ profit-taking in the ongoing cycle. Hougan believes that the rising demand for ETH could support the rally, and traders can anticipate a longer rally in Ethereum. 

Public firms own over $400 million in Ether, as demand grows, the number could keep climbing and sidelined buyers can consider accumulating ETH ahead of the cycle top. 

Dom Harz, Co-Founder of BOB told Crypto.news in a written note:

“Ethereum ETFs saw the third-largest day of inflows in history this week. This may be due to buy-in from investors who missed out on Bitcoin, which hit a record high of $122K the week prior. 

Either way, investor appetite for the two biggest blockchains is undeniable, and this momentum is not showing signs of slowing, with ETH outperforming the original blockchain so far this month. Institutional investors are taking note, and many major players are announcing plans to grow their ETH treasuries.”

James Toledano, Chief Operating Officer at Unity Wallet commented on the current developments in crypto, Bitcoin, Ethereum and XRP’s price performance. Toledano told Crypto.news:

“Bitcoin’s consolidation around $110K–$120K hints at some sort of robustness, likely driven by ETF flows, institutional accumulation, and capital flight to a new decentralized home. And yes, macro signals still point towards bullish sentiment. But, we must always be prepared for some sideways action or mild or even significant corrections as the market digests recent gains and waits for fresh catalysts.

When we look at Altcoins like ETH and XRP, they are outperforming BTC in percentage terms because they’re starting from a much lower market cap base, allowing for sharper price moves.”