Amdax plans a BTC-treasury company model for public markets

19.06.2025

Dutch crypto firm Amdax outlined plans to create a “Bitcoin treasury” structure focused on accumulating BTC, potentially in a public-market format. The rationale is straightforward: investors can access a BTC-holding strategy through an equity-style wrapper, while the company can raise capital and build its balance sheet around a single core asset. This approach strengthens a broader trend of packaging crypto exposure into familiar stock-market vehicles, which can be more accessible for institutions constrained by internal rules. But the model carries clear trade-offs: BTC volatility becomes the central balance-sheet risk, and custody design, compliance posture, and disclosure standards are crucial for trust. As more treasury-style vehicles emerge, the market continues to test the boundary between disciplined long-term exposure and balance-sheet leverage — especially during sharp price swings.