Research · Living data · Updated 2026-07-17
Public equities that give you crypto exposure without holding coins — miners, exchanges, treasury companies, and the blockchain infrastructure layer.
For investors who want crypto exposure inside a brokerage account — no wallets, no self-custody — public equities are the vehicle, and there are more of them than most people realize. NextTrack maps 126 public companies to the crypto and blockchain theme: bitcoin miners, exchanges and brokers, the treasury companies that hold coins on their balance sheet, and the infrastructure names building the rails. The count refreshes on every rebuild.
| Metric | Live figure |
|---|---|
| NextTrack tracks | 126 crypto-themed companies |
| Last updated | 2026-07-17 |
The 126 names here are not interchangeable — they express crypto risk in very different ways:
- **Miners** — leveraged to the coin price minus energy costs; operationally intense and highly cyclical. - **Exchanges & brokers** — a bet on transaction volume and adoption rather than the coin price directly. - **Treasury companies** — operating businesses (or shells) that hold large crypto reserves, so the equity trades as a leveraged, premium-or-discount proxy for the underlying coins. - **Infrastructure & blockchain** — payments, custody, tokenization, and picks-and-shovels software.
Knowing which bucket a ticker sits in tells you whether you're really betting on the coin price, on adoption, or on a balance-sheet holding.
The fastest-growing slice of the theme is companies that hold crypto as a treasury asset. Their equity often trades at a premium (or discount) to the net value of the coins they hold — meaning you can pay more than a dollar for a dollar of bitcoin, or less. That premium expands and contracts with sentiment, adding a second layer of volatility on top of the coin itself. It's the single most misunderstood mechanic in the theme, and the reason two "bitcoin proxy" stocks can behave very differently.
With 126 companies tagged, the crypto-equity theme in 2026 spans everything from large, profitable exchanges to speculative micro-cap miners and treasury vehicles. Sort by market cap to see the structure — a few large, liquid names and a long, high-beta tail. The full ranked, sortable list is on the gated theme page.
Crypto membership comes from a curated theme taxonomy mapped to companies and rolled up recursively across mining, exchange, treasury, and infrastructure sub-themes. Membership is reviewed as companies add or shed crypto exposure — a treasury company that sells its holdings, or an operating company that adopts a crypto treasury, gets re-classified. Explore the interactive map on the [crypto theme page](/themes/crypto), or browse [all themes](/themes).
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