Lookonchain
Public companies bought 2,399 BTC worth roughly $157M between June 15 and June 22, with MARA leading the cohort at 1,000 BTC ($66.7M) and Strategy adding another 520 BTC ($35M) at an average price of $67,068, per Lookonchain's weekly on-chain report. Tom Lee's Bitmine, the publicly traded ETH treasury vehicle, bought 52,203 ETH ($92M) over the same window.
Why it matters
The corporate bid kept running even as DEX activity cooled. Spot DEX volume was effectively flat at -0.7% week-over-week, while perpetual volume dropped 9.2%, a reminder that on-chain flow is a sentiment gauge, not a price floor. With six listed companies now actively accumulating, the corporate-treasury channel is starting to behave less like a one-off headline trade and more like a persistent schedule of dollar-cost-averaging into BTC and ETH.
Market impact
The interesting split is BTC treasuries versus ETH treasuries. Strategy and MARA continue to set the pace on the bitcoin side, while Bitmine, backed by Fundstrat's Tom Lee, is now pulling real weight on the ETH side. Stablecoin market cap actually shrank by $249M over the week, so the corporate buying was not being matched by a fresh wave of stablecoin issuance. That is a soft underlay to the accumulation story: real buyers are still showing up, but the marginal new dollar is not (yet) flowing in via stablecoin minting.
Frequently asked questions
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Which public companies bought the most BTC last week?
MARA led with 1,000 BTC ($66.7M), followed by Michael Saylor's Strategy with 520 BTC ($35M) at an average price of $67,068, per Lookonchain's June 15–22 weekly report.
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What did Tom Lee's Bitmine buy?
Bitmine, the publicly traded ETH treasury vehicle backed by Fundstrat's Tom Lee, bought 52,203 ETH ($92M) during the June 15–22 window.
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How did DEX trading volume trend last week?
Spot DEX volume was effectively flat at -0.7% week-over-week, while perpetual futures volume dropped 9.2%, per Lookonchain's weekly on-chain data.
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Did the stablecoin market grow or shrink?
Total stablecoin market cap decreased by $249M during the week, meaning fresh stablecoin minting was not funding the corporate buying activity.
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Why does the corporate BTC and ETH buying matter if volumes are soft?
The accumulation ran through a tape with shrinking DEX volume and a contracting stablecoin base, which is what makes a quiet, persistent schedule of corporate buys structurally meaningful rather than a one-off headline trade.
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