Key Takeaways
- You cannot buy shares in a coin, but dozens of companies built around crypto trade on NASDAQ and the NYSE, from exchanges to Bitcoin miners.
- The main groups are exchanges and brokers, Bitcoin miners, stablecoin and payment firms, crypto-treasury companies, and infrastructure providers.
- Crypto stocks behave differently from a spot Bitcoin ETF or from holding coins directly: they add company-specific risk and can trade at a large premium or discount to the crypto involved.
In This Article
- Why Crypto Stocks Exist
- Exchanges and Brokers
- Bitcoin Miners and the AI Pivot
- Stablecoin and Payment Companies
- Crypto Treasury Companies
- Infrastructure and Financial Services
- Adjacent Picks-and-Shovels Plays
- Crypto Stocks vs a Bitcoin ETF vs Holding Coins
- How to Read This List
- Watch: Crypto Stocks Explained
Why Crypto Stocks Exist
You can put money into Bitcoin, but you cannot buy a share of it the way you buy a share of a company. A cryptocurrency has no shareholders, no board, and no quarterly earnings report. What you can buy through a normal brokerage account is stock in the businesses built around crypto: the exchanges where coins are traded, the miners that secure the networks, the firms that issue stablecoins, and the companies that hold large amounts of crypto on their balance sheets.
These are often called crypto stocks or blockchain stocks. For someone who already has a stock brokerage or a retirement account, they offer a way to get exposure to the sector without opening a crypto exchange account or managing a wallet. They also sit alongside two other common routes: a spot Bitcoin ETF and buying coins directly. Each behaves differently, and we compare them near the end of this guide. Almost all of the companies below trade on one of the two big United States exchanges, NASDAQ or the New York Stock Exchange (NYSE), with a few carrying a secondary Canadian listing.
Exchanges and Brokers
This is the most direct group: platforms that earn fees when people trade. Their revenue tends to rise and fall with trading volume, which in turn tracks overall market activity. Several major exchanges now have publicly listed parent companies, and 2025 brought a wave of new crypto listings from Bullish, Gemini, and eToro.
| Company | Ticker | Exchange | What it does |
|---|---|---|---|
| Coinbase Global | COIN | NASDAQ | Largest United States crypto exchange, custody and staking. First crypto company added to the S&P 500 (2025). |
| Robinhood Markets | HOOD | NASDAQ | Commission-free brokerage for stocks, options and crypto. Acquired the Bitstamp exchange in 2025. |
| Gemini | GEMI | NASDAQ | Compliance-focused exchange and custodian founded by the Winklevoss twins. Went public in 2025. |
| Bullish | BLSH | NYSE | Institutional digital-asset exchange and parent of the news site CoinDesk. Went public in 2025. |
| eToro Group | ETOR | NASDAQ | Multi-asset social-investing and brokerage platform with a large crypto offering. Went public in 2025. |
Bitcoin Miners and the AI Pivot
Miners run warehouses of specialised computers that compete to add blocks to the Bitcoin network and earn newly issued coins plus transaction fees. Their profitability depends on the Bitcoin price, electricity costs, and the difficulty of the network. To mine new Bitcoin at scale you need cheap power and a lot of it, which is exactly the resource that artificial-intelligence data centres also need.
That overlap has driven the sector’s biggest shift in years. Many miners are now repurposing their power-secured sites into AI and high-performance-computing (HPC) data centres leased to large cloud customers, chasing longer and more predictable contracts. Some have gone so far that they barely mine any more: Cipher Mining renamed itself Cipher Digital in early 2026, and Bitfarms became Keel Infrastructure (ticker KEEL), pivoting almost entirely to AI infrastructure.
| Company | Ticker | Exchange | Note |
|---|---|---|---|
| MARA Holdings | MARA | NASDAQ | Formerly Marathon Digital; one of the largest public miners. |
| Riot Platforms | RIOT | NASDAQ | Large-scale Texas mining, expanding into AI data centres. |
| Core Scientific | CORZ | NASDAQ | Mining plus major AI hosting contracts. |
| CleanSpark | CLSK | NASDAQ | Bitcoin-focused miner with an efficiency emphasis. |
| IREN | IREN | NASDAQ | Formerly Iris Energy; renewable-powered mining and heavy AI/HPC expansion. |
| TeraWulf | WULF | NASDAQ | Low-carbon mining and a large AI-hosting backlog. |
| Hut 8 | HUT | NASDAQ, TSX | Mining and digital infrastructure, dual-listed in Canada. |
| Cipher Digital | CIFR | NASDAQ | Renamed from Cipher Mining in 2026; now AI-infrastructure led. |
Others in this group include Bitdeer (BTDR), HIVE Digital (HIVE), and the former Bitfarms, now Keel Infrastructure (KEEL). Because so many of these companies are becoming AI landlords as much as miners, their share prices increasingly track data-centre demand, not just the Bitcoin price.
Stablecoin and Payment Companies
Stablecoins are tokens pegged to a currency such as the United States dollar, and the firms that issue them or plug them into payments have become some of the most closely watched names in the sector. Circle went public in 2025 as the first listed stablecoin issuer, and its shares saw one of the year’s largest first-day jumps.
| Company | Ticker | Exchange | Crypto angle |
|---|---|---|---|
| Circle Internet Group | CRCL | NYSE | Issuer of the USDC stablecoin and the euro-pegged EURC. |
| Block, Inc. | XYZ | NYSE | Parent of Square and Cash App, a major Bitcoin on-ramp. Changed its ticker from SQ to XYZ in 2025. |
| PayPal Holdings | PYPL | NASDAQ | Payments giant behind the PYUSD stablecoin and in-app crypto buying and selling. |
Crypto Treasury Companies
A treasury company is an operating business that holds a large amount of crypto on its balance sheet, funded by cash, debt, or share sales, an approach our guide to Bitcoin treasuries covers in more depth. Investors often treat these as leveraged proxies for the underlying coin, because the share price can amplify moves in the asset the company holds. The best-known example is Strategy, the software company formerly called MicroStrategy, which kept its MSTR ticker after rebranding and remains the largest corporate holder of Bitcoin.
| Company | Ticker | Exchange | Holds |
|---|---|---|---|
| Strategy (formerly MicroStrategy) | MSTR | NASDAQ | The largest corporate Bitcoin treasury. |
| Twenty One Capital | XXI | NYSE | A Bitcoin-native treasury company backed by major industry names. |
| BitMine Immersion | BMNR | NYSE American | One of the largest public Ethereum treasuries. |
| SharpLink Gaming | SBET | NASDAQ | A large Ethereum treasury, chaired by an Ethereum co-founder. |
| Forward Industries | FWDI | NASDAQ | One of the largest public Solana treasuries. |
Treasury companies are the most volatile group on this list. Because they often trade well above the plain value of the crypto they hold, they can fall further than the coin itself when sentiment turns.
Infrastructure and Financial Services
This group builds the plumbing: trading desks, custody, asset management, and blockchain-based lending. Two of the newest names arrived through recent listings, with Figure joining the market in 2025 and BitGo following in 2026.
| Company | Ticker | Exchange | What it does |
|---|---|---|---|
| Galaxy Digital | GLXY | NASDAQ | Institutional trading, asset management, and AI data-centre infrastructure. |
| BitGo Holdings | BTGO | NYSE | Institutional custody and crypto infrastructure. |
| Figure Technology Solutions | FIGR | NASDAQ | Blockchain-based lending and financial products. |
Adjacent Picks-and-Shovels Plays
Some companies are not crypto businesses, but they benefit from the sector’s growth. These are often called picks-and-shovels plays, after the merchants who profited during gold rushes by selling tools rather than digging themselves.
| Company | Ticker | Exchange | Connection to crypto |
|---|---|---|---|
| Nvidia | NVDA | NASDAQ | Its chips power AI computing and, historically, crypto mining. |
| CME Group | CME | NASDAQ | The largest derivatives exchange; offers regulated Bitcoin and Ether futures and options. |
| MercadoLibre | MELI | NASDAQ | Latin American e-commerce and fintech leader with crypto trading and its own dollar stablecoin. |
These names give diversified exposure: their fortunes are tied to crypto in part, but not entirely, so they tend to be less volatile than a pure-play miner or treasury company.
Crypto Stocks vs a Bitcoin ETF vs Holding Coins
Buying a crypto stock is not the same as owning the coin. A share represents a stake in a company with its own revenue, costs, debt, and management decisions. The table below sets out the three common ways to get crypto exposure through a brokerage or wallet.
| Hold crypto directly | Spot Bitcoin ETF | Crypto stocks | |
|---|---|---|---|
| What you own | The actual coins | Fund shares backed by crypto in custody | Shares in a company |
| Price tracking | One-to-one | Very close, minus a small fee | Can trade at a large premium or discount |
| Added risk | Self-custody and key security | Custodian and management fee | Business execution, debt, dilution |
| Trading hours | 24/7 | Market hours only | Market hours only |
| Fits in a retirement account | Usually no | Yes | Yes |
In short, direct ownership and a spot ETF both track the coin’s price closely. Crypto stocks add a layer of company-specific risk, and treasury companies in particular can swing much more sharply than the asset they hold.
How to Read This List
This is an educational overview, not financial advice, and it does not recommend buying or selling anything. Tickers and listings change often: companies rebrand, switch exchanges, merge, or go private, as several names here did in 2025 and 2026. Treasury holdings in particular are point-in-time figures that move constantly, so always check a company’s latest filing before relying on any number.
The sector is also young and fast-moving. New listings arrive regularly, categories blur as miners become AI landlords and exchanges become infrastructure providers, and every one of these stocks tends to be more volatile than the broader market. If you are weighing crypto stocks against simply holding coins, it is worth understanding how each option works first, including whether an ETF or direct ownership might suit your goals better than owning an operating company. As always, do your own research and consider speaking to a licensed financial professional before making any decision.
Watch: Crypto Stocks Explained
Prefer to watch? Here is a short rundown of the notable crypto stocks, grouped by segment.
Stay Ahead in Crypto