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Why You Need a Reserve Tracker
Q2-2025 earnings just dropped, and Strategy (MSTR) blew the roof off—USD 14.03 B in revenue (+7,106 % YoY) on the back of a USD 14 B unrealized BTC gain. From Strategy to Metaplanet, from BTC-only treasuries to multi-token balance sheets, the “corporate-crypto-reserve” space is exploding. Retail can either buy the tokens … or buy the stocks. To do either, you need rock-solid data. Below, we road-test six dashboards.
Evaluation Grid
Site | Tokens Covered | Companies Listed | Unique Edge | Biggest Weakness |
|---|---|---|---|---|
Blockworks | BTC, ETH, SOL, HYPE, XRP, SUI, Multi | 26 | MNAV & premium charts | Tickers only, no full names |
Delphi Digital | BTC, ETH, SOL | 10 (legacy names) | Clean, minimal view | Too few names, no new entrants |
The Block | BTC, ETH, SOL, Multi | 26 | Aggregated view | Dune lag, slower updates |
cryptotreasuries.info | BTC (most), ETH, SOL* | BTC: largest set | BTC depth + price charts | SOL section empty |
Crypto Stock Tracker | BTC, ETH, SOL, XRP | High | Shares outstanding & intraday price | Brand-new site, freshness TBD |
cryptotreasuries.com | BTC, ETH, SOL, HYPE | 6 (spotlight list) | Recent purchase % | Very small universe |
1. Blockworks – The All-Round Champion
Depth: 26 firms, six token categories.
Killer Metrics:
• MNAV (market cap ÷ coin value) & EV-based MNAV to gauge over/under-valuation.
• Net-Asset Premium (market cap minus coin holdings).
Charts: Interactive MNAV and premium heat-maps.
Irritant: Displays tickers (e.g., “MSTR”) not company names.
2. Delphi Digital – The Curated Short-List
Coverage: BTC (4 firms), ETH (4), SOL (2).
Sources: SEC filings & press releases.
Use-Case: Quick sanity check on flagship names like Strategy or Metaplanet.
Limitation: Ignores newer entrants; no risk-adjusted ratios beyond basic M.
3. The Block – The Macro Lens
Scope: 26 firms across BTC, ETH, SOL plus a combined “all reserves” tab.
Data: Holdings, market caps, aggregate token tallies.
Caveat: Pulls some numbers from Dune; can lag real-time moves.
4. cryptotreasuries.info – The BTC Maxi’s Paradise
Largest BTC roster of any site.
Extras: 30-/90-day/1-year per-share BTC yield charts; price vs. treasury correlation graphs.
Blind Spot: SOL section literally empty; ETH list thin.
5. Crypto Stock Tracker – The Equity Angle
Covers: BTC, ETH, SOL, XRP (the only site with XRP).
Equity Add-Ons: Float, intraday %, shares outstanding—handy for equity traders.
Status: Launched July 2025; watch for update cadence.
6. cryptotreasuries.com – The Rookie Spotlight
Niche: Tracks HYPE treasury (Hyperion DeFi) alongside BTC/ETH/SOL.
Highlight: Recent purchase percentages front-and-center.
Reality Check: Only six companies—treat it as a “coming attractions” reel.
Bottom Line Cheat-Sheet
Need the full picture? → Blockworks
BTC-only deep-dive? → cryptotreasuries.info
Equity trader eyeing reserves? → Crypto Stock Tracker
Just the marquee names? → Delphi Digital
Footnote: None of the dashboards had yet logged yesterday’s Sharplink Gaming purchase of 15,822 ETH (now 480,204 ETH worth USD 1.62 B). In this space, freshness is king—bookmark two sites and cross-check.
Why You Need a Reserve Tracker
Q2-2025 earnings just dropped, and Strategy (MSTR) blew the roof off—USD 14.03 B in revenue (+7,106 % YoY) on the back of a USD 14 B unrealized BTC gain. From Strategy to Metaplanet, from BTC-only treasuries to multi-token balance sheets, the “corporate-crypto-reserve” space is exploding. Retail can either buy the tokens … or buy the stocks. To do either, you need rock-solid data. Below, we road-test six dashboards.
Evaluation Grid
Site | Tokens Covered | Companies Listed | Unique Edge | Biggest Weakness |
|---|---|---|---|---|
Blockworks | BTC, ETH, SOL, HYPE, XRP, SUI, Multi | 26 | MNAV & premium charts | Tickers only, no full names |
Delphi Digital | BTC, ETH, SOL | 10 (legacy names) | Clean, minimal view | Too few names, no new entrants |
The Block | BTC, ETH, SOL, Multi | 26 | Aggregated view | Dune lag, slower updates |
cryptotreasuries.info | BTC (most), ETH, SOL* | BTC: largest set | BTC depth + price charts | SOL section empty |
Crypto Stock Tracker | BTC, ETH, SOL, XRP | High | Shares outstanding & intraday price | Brand-new site, freshness TBD |
cryptotreasuries.com | BTC, ETH, SOL, HYPE | 6 (spotlight list) | Recent purchase % | Very small universe |
1. Blockworks – The All-Round Champion
Depth: 26 firms, six token categories.
Killer Metrics:
• MNAV (market cap ÷ coin value) & EV-based MNAV to gauge over/under-valuation.
• Net-Asset Premium (market cap minus coin holdings).
Charts: Interactive MNAV and premium heat-maps.
Irritant: Displays tickers (e.g., “MSTR”) not company names.
2. Delphi Digital – The Curated Short-List
Coverage: BTC (4 firms), ETH (4), SOL (2).
Sources: SEC filings & press releases.
Use-Case: Quick sanity check on flagship names like Strategy or Metaplanet.
Limitation: Ignores newer entrants; no risk-adjusted ratios beyond basic M.
3. The Block – The Macro Lens
Scope: 26 firms across BTC, ETH, SOL plus a combined “all reserves” tab.
Data: Holdings, market caps, aggregate token tallies.
Caveat: Pulls some numbers from Dune; can lag real-time moves.
4. cryptotreasuries.info – The BTC Maxi’s Paradise
Largest BTC roster of any site.
Extras: 30-/90-day/1-year per-share BTC yield charts; price vs. treasury correlation graphs.
Blind Spot: SOL section literally empty; ETH list thin.
5. Crypto Stock Tracker – The Equity Angle
Covers: BTC, ETH, SOL, XRP (the only site with XRP).
Equity Add-Ons: Float, intraday %, shares outstanding—handy for equity traders.
Status: Launched July 2025; watch for update cadence.
6. cryptotreasuries.com – The Rookie Spotlight
Niche: Tracks HYPE treasury (Hyperion DeFi) alongside BTC/ETH/SOL.
Highlight: Recent purchase percentages front-and-center.
Reality Check: Only six companies—treat it as a “coming attractions” reel.
Bottom Line Cheat-Sheet
Need the full picture? → Blockworks
BTC-only deep-dive? → cryptotreasuries.info
Equity trader eyeing reserves? → Crypto Stock Tracker
Just the marquee names? → Delphi Digital
Footnote: None of the dashboards had yet logged yesterday’s Sharplink Gaming purchase of 15,822 ETH (now 480,204 ETH worth USD 1.62 B). In this space, freshness is king—bookmark two sites and cross-check.
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