Crypto-treasury companies on-chain, compared

15 stocks in crypto-treasury companies exist on-chain: 30 tokens from 6 issuers, plus 4 Hyperliquid perps. 8 of them in more than one form — open one to see every way in side by side: issuer, legal wrapper, holder rights, chain and cost.

MicroStrategy · MSTR

5 tokens + 1 perp

Backed / Kraken (xStocks) · Backed Finance · Ondo Global Markets (BVI) · ST0x · Dinari

Bitmine · BMNR

4 tokens + 1 perp

Ondo Global Markets (BVI) · bStocks · Dinari · Backed / Kraken (xStocks)

Strategy PP Variable · STRC

3 tokens + 1 perp

Dinari · Backed / Kraken (xStocks) · Ondo Global Markets (BVI)

SharpLink, Inc. · SBET

3 tokens

Backed / Kraken (xStocks) · Ondo Global Markets (BVI) · Dinari

Strive Preferred · SATA

3 tokens

Ondo Global Markets (BVI) · Dinari · Backed / Kraken (xStocks)

DFDV

2 tokens

Backed / Kraken (xStocks) · Dinari

Hyperliquid Strategies · PURR

1 token + 1 perp

Ondo Global Markets (BVI)

Strategy PP Fixed · STRK

2 tokens

Dinari · Backed / Kraken (xStocks)

Only one token so far

One issuer each — nothing to compare yet, but on-chain all the same.

Brera

SLMTx · Backed / Kraken (xStocks)

Strategy Inc 10.00% Series A Perpetual Stride Preferred Stock

STRD · Dinari

Strategy Inc 10.00% Series A Perpetual Strife Preferred Stock

TONXx · Backed / Kraken (xStocks)

Tron Inc.

TRON · Dinari

Twenty One Capital, Inc.

XXI · Dinari

Elsewhere in crypto

Bitcoin miners · 11 Crypto exchanges & platforms · 10

How the industry is decided

For US-listed companies the starting point is the industry code the company files with the SEC (SIC). Where that code misleads — SIC files most Bitcoin miners under “finance services” and Visa next to Alibaba — it is corrected by hand, with the reason recorded. Funds and non-US listings are assigned by hand from the fund name and the venue’s own description.

This page: 7 by SEC SIC code · 8 SIC corrected by hand · 0 assigned by hand.

Tokens and perps are not the shares: most tokens are claims on an issuer, perps give price exposure without ownership. Who may buy is set by each issuer. Not investment advice.