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Why it matters
Listed crypto proxies — exchanges, miners and DATs. Values and style screens are a useful starting point for aligning a portfolio with a preference or macro view.
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Crypto-Adjacent Equities
Listed crypto proxies — exchanges, miners and DATs.
For equity investors seeking crypto exposure without holding tokens, a set of listed companies tracks the asset class — exchanges, bitcoin miners and digital-asset treasuries (DATs) such as Strategy (MSTR) and Bitmine that hold crypto on their balance sheet. This collection curates the main crypto-adjacent equities; expect high volatility.
What to check next
Confirm the company has genuine exposure to the stated style and review valuation, liquidity, governance and concentration risk.
Main risk
Proxy screens can be imperfect; always check the underlying business rather than relying on the theme label alone.
| Company | Market | Market Cap | Reward | Risk | Yield | |
|---|---|---|---|---|---|---|
| Robinhood Markets IncHOOD | $101.4B | — | ||||
| MicroStrategy IncorporatedMSTR | $63.8B | — | ||||
| Coinbase Global IncCOIN | $48.3B | — | ||||
| Circle Internet Group, Inc.CRCL | $22.1B | — | ||||
| IREN LtdIREN | $16.5B | — | ||||
| BitMine Immersion Technologies, Inc.BMNR | $15.8B | 0.0% | ||||
| Galaxy Digital Holdings LtdGLXY | $13.6B | — | ||||
| Hut 8 Corp. Common StockHUT | $11.0B | — | ||||
| Terawulf IncWULF | $7.7B | — | ||||
| Riot Platforms, Inc.RIOT | $7.4B | — | ||||
| Cipher Mining IncCIFR | $6.5B | — | ||||
| Core Scientific, Inc. Common StockCORZ | $5.3B | — | ||||
| BullishBLSH | $5.2B | — | ||||
| Marathon Digital Holdings IncMARA | $4.3B | — | ||||
| Twenty One Capital, Inc.XXI | $4.3B | — | ||||
| CleanSpark IncCLSK | $3.3B | — | ||||
| Bitdeer Technologies Group Class A Ordinary SharesBTDR | $3.0B | — | ||||
| Securitize Corp.SECZ | $2.1B | — | ||||
| Sharplink Gaming LtdSBET | $2.0B | — | ||||
| Bitfarms LtdBITF | $1.2B | — | ||||
| HIVE Digital Technologies LtdHIVE | $816.0M | — | ||||
| Gemini Space Station, Inc. Class A Common StockGEMI | $605.5M | — | ||||
| Bit Digital IncBTBT | $587.8M | — | ||||
| Bakkt, Inc.BKKT | $349.3M | — | ||||
| Nakamoto Inc.NAKA | $172.9M | — | ||||
| DeFi Development Corp.DFDV | $171.3M | — | ||||
| Upexi Inc.UPXI | $96.1M | — |
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Frequently asked questions
What is the Crypto-Adjacent Equities collection?
Listed crypto proxies — exchanges, miners and DATs. It currently holds 27 stocks, each rated by Openbook's Reward and Risk scores. For equity investors seeking crypto exposure without holding tokens, a set of listed companies tracks the asset class — exchanges, bitcoin miners and digital-asset treasuries (DATs) such as Strategy (MSTR) and Bitmine that hold crypto on their balance sheet.
How are Crypto-Adjacent Equities stocks selected?
Crypto-Adjacent Equities is a curated basket of companies with direct exposure to this theme, screened against live market data and ranked by market capitalisation.
How often is the Crypto-Adjacent Equities list updated?
Prices, ratings and rankings rebuild from live market data every time the page loads. The membership of the basket itself is reviewed and revised by hand on a regular cadence, so newly-listed or no-longer-relevant companies are added and removed as the theme moves.
How should I use the Reward and Risk ratings?
Openbook's Reward rating combines a stock's growth, momentum, profitability and valuation into a single 0–100 score, and the Risk rating scores financial strength, volatility and size. Use them to compare names within this theme — broadly, a higher Reward alongside a lower Risk is more attractive. They are quantitative research signals, not investment advice.
Openbook Reward and Risk ratings and factor scores are quantitative signals for research, not investment advice. Data may be delayed. Some US-listed names carry partial factor coverage.