Encryption Reserve Company Data Query Tool Evaluation

Recently, listed companies have been announcing their Q2 2025 financial reports, among which Strategy has performed particularly well. Under the leadership of Michael Saylor, the company's Q2 revenue reached a record high of approximately $14.03 billion, a year-on-year increase of 7106%. The encryption assets held by Strategy have an unrealized gain of $14 billion.

This achievement stems from Saylor's decision to choose BTC as a reserve. From Strategy to various transformations into encryption reserves, the reserve tokens have expanded from BTC to ETH, SOL, and SUI, among others. With the development of hot sectors in encryption, the types of encryption token reserves and the number of companies have rapidly increased in a short period. For individual investors, in addition to investing in the tokens listed in reserves, they may also consider purchasing stocks of reserve companies.

To this end, we have compiled and evaluated several commonly used encryption reserve company data query tools, as detailed below:

Comprehensive Query Website

1. Blockworks

Blockworks' data covers BTC, ETH, SOL, HYPE, XRP, SUI, and multilateral token reserves, including a total of 26 encryption reserve companies. The main indicators include:

• Reserve Company Stock Code
• Reserve Token Name
• Stock daily trading volume
• NAV ( net asset value )
• Number of tokens held
• Company Market Value

Blockworks also ranks reserve companies based on the net value of held encryption assets and provides MNAV data charts, showcasing the trend of asset net value multiples (M value ). The M value is a risk indicator that measures the health of encryption reserves.

In addition, Blockworks provided a data table of the company's net asset value premium of ( market cap minus the encryption reserve value of ), as well as a data table of the total net asset value premium for each encryption reserve company.

Review: Blockworks has a comprehensive set of data, with detailed individual metrics and risk indicators, and includes a large number of encryption reserve companies. Its net asset value premium and MNAV data tables can intuitively display the risk indicators of encryption reserve companies. A slight drawback is that only stock codes are provided instead of the full company names.

2. Delphi Digital

Delphi Digital's data table includes three types of reserve companies: BTC, ETH, and SOL, but the number of entries is relatively small:

• BTC Reserve Companies: 4
• ETH Reserve Companies: 4
• SOL Reserve Companies: 2

The data table includes company name, stock code, stock price, market value, encryption asset value, and M value.

Review: The data table from Delphi Digital is relatively simple and only includes some earlier or well-known encryption reserve companies, with no data on new reserve companies. Compared to Blockworks, MANV's data is also relatively singular and can only serve as an alternative for ordinary encryption reserve company data inquiries.

3. The Block

The Block's data table is divided into four parts: BTC, ETH, SOL, and a comprehensive encryption reserve enterprise, including a total of 26 encryption reserve companies. The data covers:

• encryption reserve company's market value
• The encryption reserve company holds a market value of tokens
• The token holdings of a single mainstream reserve company
• Total holdings of the reserve company for a single token

Review: The chart presentation is not as good as Blockworks. Some data comes from the DUNE platform, which updates slowly and has accuracy issues.

4. cryptotreasuries.info

The platform is divided into three types of reserves: BTC, ETH, and SOL, but no companies have been included for SOL yet. There are more companies included in the BTC reserve. The data column includes:

• Company name and stock code
• Token Holdings and Total Value
• 30/90 days and 1 year per share BTC yield and MNAV

Review: Among all query tools, this platform has the most BTC reserve companies, but fewer ETH reserves, and there are currently no SOL reserve companies. The platform also created a comparison chart of reserve companies' token accumulation data and stock price trends.

5. Crypto Stock Tracker

The platform covers BTC, ETH, SOL, and XRP reserve companies, with a relatively large number of reserve companies for each token. The data table includes:

• Stock code
• Stock price and intraday price fluctuation
• Market capitalization and circulating shares
• The number and total value of held encryption tokens

The right side of the platform has recent information on increased holdings and the latest information on upcoming increases, as well as recent updates from the platform.

Review: As a newly established data platform, it includes a considerable number of encryption reserve companies. Compared to other platforms, it offers additional stock prices and circulating shares data, which is more friendly to investors considering buying US stocks. If future updates are timely, it could be included in the observation list for encryption reserve data.

6. cryptotreasuries.com

This is a newly launched encryption strategic reserve company data and analysis platform in July, and currently, the number of companies included is relatively small:

• BTC Reserve Companies: 2
• ETH Reserve Companies: 2
• SOL Reserve Company: 2
• HYPE Reserve Company: 1

The comprehensive data section includes: company name, stock code, quantity and total value of held encryption reserve tokens, stock price, market capitalization, and MNAV.

Review: The interface is simple and intuitive, but the number of companies included is limited. The advantage is that it lists recent data on companies that have increased their token reserves and the proportion of increases. As a new platform, it may add more encryption reserve company data in the future, making it a "potential stock."

Conclusion

Currently, the speed at which listed companies are transforming or advancing into encryption reserve companies is relatively fast, with new companies announcing purchases or plans to adopt BTC as a strategic reserve almost every week. In addition to direct purchases, this also includes financing or issuing additional shares to increase encryption reserves. Some entities that are about to merge find it difficult to calculate their market value and the number of encryption reserves, leading to certain discrepancies in the overall data. Some platforms have also included reserve data from encryption mining companies.

Overall, Blockworks is relatively advanced in terms of data comprehensiveness and chart presentation. Several new platforms have their own advantages in interface and data classification: Crypto Stock Tracker is the only platform that includes XRP reserves, cryptotreasuries.com is the only platform that includes HYPE, and cryptotreasuries.info has the largest number of BTC reserve companies.

It is worth noting that all platforms have not updated Sharplink's ETH holdings data (. The company recently increased its holdings by 15,822 ETH, bringing the total holdings to 480,204 ETH, valued at $1.62 billion ).