Vault model
In recent years, more and more companies, as well as governments, have been incorporating cryptocurrencies into their treasury strategies. Traditionally, corporate treasuries have relied on cash, gold, and government bonds to preserve value, maintain liquidity, and ensure financial stability. Governments, in turn, held gold reserves to support the national currency. But cash loses purchasing power, bonds carry interest rate and duration risk, and currency shocks can hit the balance sheet unexpectedly.
This is why companies are increasingly looking for assets that retain value better, are easily transferred across borders, and fit into modern digital financial flows. This is where Bitcoin, Ethereum and in some cases stablecoins come into play, which today stand side by side with cash, gold and treasury bills.
For companies, the goal is clear: to hedge against inflation, diversify currency risk, provide 24/7 liquidity and test future models of digital settlement of transactions. For countries, this goal is further extended to building strategic reserves, resilience to sanctions, and access to neutral, global liquidity.
Source: cointelegraph
Bitcoin Vaults
Bitcoin has held a special place since its inception as the first and most well-known cryptocurrency and is often described as the digital equivalent of gold. Due to its reputation and resistance to inflation, it has become an attractive option for treasuries looking to protect value and reduce the risks associated with traditional currencies. In the United States, Senator Cynthia Lummis has proposed a bill called the Bitcoin Act, which would oblige the Treasury Department to accumulate one million Bitcoins for government reserves over five years. Even earlier, President Donald Trump launched an initiative called the Strategic Bitcoin Reserve funded by confiscated BTC funds.
Globally, El Salvador has attracted the most attention, accepting Bitcoin as official tender in 2021, while countries like Bhutan have quietly added BTC to their national reserves. In the corporate world, MicroStrategy stands out in particular, which continuously buys Bitcoin and thus turns it into a key asset of its treasury.
Bitcoin vaults have several clear advantages. High liquidity, globally recognized status, and limited supply make it an attractive long-term asset choice. Companies that want to make additional returns on idle BTC most often combine it with lending services or derivatives-based strategies. While volatility can affect balance sheets in the short term, many conclude that the benefits outweigh the drawbacks.
Source: cointelegraph
Ethereum Vaults
While Bitcoin still remains the foundation of most crypto vaults, Ethereum has become an increasingly attractive alternative in recent years. After switching to proof of stake during 2022, known as the Merge, Ethereum has significantly reduced its energy consumption and introduced staking that generates annual returns of approximately three to five percent. This has made ETH a productive asset, unlike Bitcoin, which does not generate passive income, making it particularly interesting for vaults that want to combine preserving value and earning a stable return.
The Ethereum ecosystem also brings added value. Decentralized finance allows vaults to access liquidity without the need to sell assets, while the increasing tokenization of real-world assets such as bonds or commodities strengthens Ethereum’s role as an advanced financial platform. Institutional adoption of ETH is also growing. Companies are increasingly incorporating Ether into their reserves, and asset managers are introducing ETH-based funds that allow for regulated investing. Even decentralized autonomous organizations use ETH as a backup asset for long-term stability.
Of course, there are challenges. Regulatory uncertainty in major markets, risks associated with staking performance, and the technical complexity of the Ethereum network can make treasury management difficult. Nevertheless, in 2025, ETH stands out as an extremely versatile treasury asset that combines store of value, supplemental income potential, and wide practical application.
Source: cointelegraph
Comparison of Ethereum and Bitcoin Vault
For now, Bitcoin still holds the title of the main treasury crypto asset. Companies and institutions collectively hold more than a million Bitcoins, which shows how deeply rooted BTC is as a long-term, secure reserve. Ethereum, although less widespread, is catching up rapidly. More and more corporations, DAOs, and fund managers are starting to add ETH to their reserves.
Data from the blockchain clearly shows that strategies differ. Bitcoin is mostly held passively, almost like digital gold sitting quietly in a vault. Ethereum, on the other hand, is much more active. A large part of the total ETH in the vaults is immediately staked and thus yields a stable annual return. MicroStrategy is the most famous example of a BTC strategy, as this company alone holds more than six hundred thousand Bitcoins and practically never uses it to generate additional income. The number of publicly listed companies holding BTC has also risen sharply, from seventy at the end of 2024 to more than one hundred thirty by mid-2025.
The difference in approach is immediately apparent. Bitcoin vaults offer security and simplicity but are passive. Ethereum vaults yield three to five percent of the annual yield through staking, so they act more like an active asset that works for you. As of September 2025, a total of seventy-three entities hold nearly five million ETH, with Bitmine Immersion Tech leading the way with just over two million Ether and SharpLink Gaming with over eight hundred million ETH in reserve.
Ultimately, the choice between BTC and ETH vaults comes down to a matter of priority. If long-term stability is important to you, Bitcoin remains a proven option. If you want extra income and flexibility, Ethereum offers more options.
Source: cointelegraph
It's a double strategy
As the crypto market matures, more and more countries and companies are switching to the so-called dual treasury strategy, which combines Bitcoin and Ethereum in a single balance sheet. The idea is simple. Bitcoin serves as a stable, globally recognized reserve asset, while Ethereum delivers additional yield through staking and provides programmable financial system capabilities. Together, they create a model that blends security and growth, something that traditional vaults often struggle to achieve.
An example of such an approach is the U.S. federal government. After the executive order of March 2025, the US Strategic Bitcoin Reserve was created, which holds between 198 thousand and 207 thousand Bitcoins, worth about twenty billion dollars, until September 2025. In addition, a state-owned digital asset pool for non-bitcoin crypto assets has been established. Inside it is about sixty thousand ETH, with a total value of about two hundred and sixty million dollars according to the Arkham platform’s analyses.
BitMine Immersion Technologies has a similar approach. Although it holds a relatively small number of Bitcoins, about one hundred and ninety BTC, the company has built a massive Ethereum reserve that numbers more than two million ETH worth about nine billion dollars. By doing so, it clearly demonstrated a shift from relying solely on Bitcoin mining to a broader, diversified model of crypto reserve management.
The dual strategy is slowly becoming a standard for anyone who wants to avoid dependence on a single asset. Bitcoin stores value, Ethereum generates revenue, and together they provide the flexibility that traditional financial models often lack.
Source: cointelegraph
Which strategy turned out to be better in 2025?
The competition between Bitcoin and Ethereum vaults actually shows that both assets have their distinct advantages. By mid-2025, the trend increasingly suggests that many vaults will combine both options instead of choosing just one side. Bitcoin continues to stand out for its stability, global trust, and status as a kind of reserve currency for the crypto world. Its role as digital gold makes it a natural choice for institutions and states that want long-term capital preservation and easy access to liquidity.
At the same time, Ethereum has attracted a large number of new vaults thanks to its yield-generating potential and wide practical application. Staking yields three to five percent per year, DeFi provides liquidity without selling assets, and the growing market for tokenized real assets further raises its utility. This is why ETH is increasingly viewed as an active asset that not only preserves value but also works for the owner.
Ultimately, the choice depends on the goals. Bitcoin is ideal for those who want security and verifiability, while Ethereum is more appealing to anyone aiming for growth and income. Although Bitcoin still leads the way in terms of total amount in vaults, Ethereum is catching up very quickly thanks to companies and DAOs who value its programmable financial capabilities.
