What began as a bold balance sheet directional bet has matured into a repeatable financial structure. Public crypto accumulation is no longer confined to Bitcoin, and it is no longer limited Microstrategy (now Strategy). A new class of companies is now using capital markets to systematically acquire crypto assets as part of their treasury strategy.
This report, the first part in a two part series, explores how Ethereum, Solana, and XRP are being absorbed into corporate capital frameworks. From Strategy’s leveraged accumulation engine to Upexi’s discounted Solana lockups, a new financial primitive is taking shape - one that uses public equity, shelf registrations, and validator yield to convert market infrastructure into crypto exposure.
We examine the mechanics behind this shift, the infrastructure enabling it, and the signals investors should track as public accumulation moves beyond Bitcoin and into the altcoin core.
A new corporate archetype is forming … and it is being built on crypto.
