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Twenty One Capital
New-wave bitcoin treasury company, born at scale
Twenty One Capital launched as a pure bitcoin-per-share vehicle and arrived already holding one of the largest corporate stacks in existence, no legacy business attached.
The desk's read
Where Strategy bolted a treasury onto a software firm, Twenty One is treasury-native: the company is the bitcoin. That makes this balance the clearest expression yet of the "public equity as bitcoin wrapper" thesis.
It's 100% BTC, held on-chain and mapped cleanly by on-chain entity data. There's no altcoin distraction, no operating business burning coins. The stack is the story.
For the desk it's a fresh data point on how fast the treasury-company model can scale. It appeared near the top of the corporate leaderboard almost immediately.
What they hold
Largest token positions on-chain data maps to this entity, by USD value.
| Asset? | Chain? | Value? |
|---|---|---|
| BTC | bitcoin | $3.37B |
How to read a row → BTC · bitcoin · $3.37B: this entity's largest position is $3.37B of BTC held on bitcoin. Rows are sorted by USD value, so the top row is the biggest bet.
By chain
| Network? | Value? |
|---|---|
| bitcoin | $3.37B |
How to read a row → bitcoin · $3.37B: $3.37B of the holdings live on bitcoin. Chains are ranked by value, so the top row is where most of the money sits.
Source: balances read directly from public chain RPCs, priced via DeFiLlama. USD-denominated, so they move with price as well as with flows. Updated 23 Aug 2026.
Other fund / institution: BlackRock · Strategy · Grayscale · Bitwise
Not investment advice. Entity labels are on-chain attribution and can be imperfect; a labelled balance may mix personal, treasury and custody wallets. Large balances do not imply intent, some never move.