Digital Asset Treasury Boom Stalls As Flows Drop To $1.3b And...

Bitcoin treasury companies drove November inflows with $1.06 billion, as Ether saw $37 million in outflows despite continued accumulation by BitMine.

Digital asset treasuries (DATs) experienced their slowest month of 2025 in November as the corporate treasury boom slowed.

Data aggregator DefiLlama data showed that in November, DATs saw only $1.32 billion in inflows, the sector’s lowest monthly inflows this year. This represented a 34% decline from October’s $1.99 billion and an 88% decrease from September’s $11.55 billion.

Bitcoin (BTC) DATs led the month with $1.06 billion in inflows, driven by Strategy buying $835 million in Bitcoin on Nov. 17 and Metaplanet buying $130 million in BTC on Nov. 25. XRP (XRP) followed with $214 million in inflows, according to DefiLlama.

Ether (ETH), which led the last three months in DAT inflows, lagged behind in November, seeing outflows of about $37 million, despite BitMine Immersion Technologies, the leading ETH DAT, continuing to add to its stack throughout the month.

Along with the drop in DAT inflows, DAT equities also saw a sharp correction during the month, with major DAT stocks underperforming, despite a brief rally on Monday.

Google Finance data showed that Strategy, the sector’s biggest DAT, fell 35.23% over the month, dropping from $264.67 on Nov. 3 to $171.42 at the time of writing.

Despite the drop in Strategy’s stock prices, its chairman, Michael Saylor, continued to show his resolve on social media, saying he “won’t back down” from the Bitcoin bet.

Meanwhile, Japanese Bitcoin accumulator Metaplanet slid 20.67% in the same time frame, dropping from 450 Japanese yen ($2.89) to $2.29.

Apart from Bitcoin DATs, Ether-focused DATs also showed major losses. BitMine dropped from $42.86 to $28.94, recording a 32.48% decline in the same time period, while Sharplink Gaming stock shed 26.66%, falling from $13.09 to $9.60.

Source: CoinTelegraph