Comparison of 6 major encryption reserve query tools: Which one is the best to use?

Original | Odaily Odaily Daily

Author｜CryptoLeo

In early August, listed companies successively announced their financial reports for the second quarter of 2025, among which the standout was Strategy (MSTR). Under the leadership of Michael Saylor, Strategy achieved a record high operating revenue of approximately $14.03 billion in the second quarter of 2025, a growth of 7106% compared to the same period last year. Additionally, the unrealized gains from the crypto assets held by Strategy amounted to $14 billion.

This all stems from Saylor's decision to choose BTC as a reserve, from Strategy, Metaplanet to various companies transforming into crypto reserves, from reserves in BTC to ETH, BNB, SOL, and SUI, among others. Just as the crypto hot tracks develop, the types of crypto token reserves and companies have emerged in just a few months. For retail investors, besides investing in tokens listed as reserves, they can also buy shares of reserve companies. For this reason, Odaily has specially compiled and evaluated commonly used data query websites/tools for crypto reserve companies, as follows:

Comprehensive Inquiry URL

1、Blockworks

Introduction: Blockworks' data on crypto reserve companies covers BTC, ETH, SOL, HYPE, XRP, SUI, and multi-token reserves, recording data from 26 crypto reserve companies. The data columns include key metrics such as trading volume, crypto net asset value (NAV), and more. Users can clearly query the following:

Cryptocurrency Reserve Company stock ticker, reserve token name, daily trading volume, NAV, number of tokens held, and company market capitalization. Blockworks also ranks reserve companies based on the net asset value of held crypto assets. (Its stock data is sourced from Polygon.io - an API service that provides data for the US stock market.)

Blockworks also created a data table for the above data. In addition to the aforementioned data charts, it is worth noting that Blockworks has also drawn up the MNAV data table, providing the data trends for M (Net Asset Value Multiple), including the M values for enterprise value and market capitalization. M (Market Capitalization) is the total market capitalization divided by the value of crypto assets, while M (Enterprise Value) is calculated as market capitalization + total debt - cash divided by the value of crypto assets. For example, the M (Market Capitalization) of Strategy is 1.48, and the M (Enterprise Value) of Strategy is 1.68. M is also a risk indicator of the health of crypto reserves.

In addition, Blockworks also provided a data table of the company's net asset value premium (market value minus the value of crypto reserves) (for example, the net asset value premium of Strategy is $34.36 billion). There is also a data table of the total net asset value premium for each crypto reserve company (for example, the net asset value premium for the BTC reserve company is $26.29 billion), as some BTC reserve companies have stock values lower than the value of their held crypto assets, meaning their M is below 1.

Evaluation: Overall, Blockworks provides comprehensive data, with detailed individual data and risk indicators, and has recorded a large number of cryptocurrency reserve companies. The data tables for net asset value premium and MNAV clearly show the risk indicator data of cryptocurrency reserve companies. A slight drawback is that the website only provides stock tickers instead of the full company names, which means that users who are not familiar with US stocks will need to look up the stock ticker to understand the company.

2、Delphi Digital

Introduction: The crypto reserve company database from Delphi Digital includes three types: BTC, ETH, and SOL, but there are few companies recorded. Among them, there are 4 companies that recorded BTC reserves (Strategy, Metaplanet, Twenty One, and Semler Scientific), 4 companies that recorded ETH reserves (Sharplink Gaming, BitMine Immersion Tech, BTCS Inc, and Bit Digital Inc), and 2 companies that recorded SOL reserves (DeFi Development Corp and Upexi). Delphi Digital's database includes company names, stock tickers, stock prices, market capitalizations, crypto asset values, and M (the M value is the market cap divided by the crypto asset value mentioned above). (Data sourced from SEC and news announcements.)

Review: Delphi Digital's data table is relatively simple, only allowing access to some earlier or well-known crypto reserve companies. Data for some new reserve companies has not been recorded, and for Blockworks, the data on Delphi Digital's MANV is also quite singular, making it just a regular alternative for querying crypto reserve company data.

3、The Block

Introduction: The Block's crypto reserve company data table is divided into four parts: BTC, ETH, and SOL, as well as comprehensive crypto reserve enterprise data, recording a total of 26 crypto reserve companies. The data covers mainstream crypto reserve companies, and the data table includes: market capitalization of crypto reserve companies, market capitalization of tokens held by crypto reserve companies, token holdings of individual mainstream reserve companies, and total holdings of individual tokens by reserve companies.

Review: The chart does not look as good as Blockworks. Some of the crypto reserve data comes from the DUNE platform, so the holdings update relatively slowly, and the data is not particularly accurate.

4、cryptotreasuries.info

Introduction: cryptotreasuries.info is divided into three categories of crypto reserves: BTC, ETH, and SOL, but no companies have recorded SOL. There are more companies recording BTC reserves, and the platform also provides the price trends of the related tokens.

The platform's data section includes: company name and stock ticker, token holdings and total value, 30/90 days and 1-year earnings per share of BTC and MNAV.

Review: cryptotreasuries.info is the platform with the most BTC reserve companies recorded among all query tools today, but has fewer ETH reserves, and there are currently no SOL reserve companies (not updated). The platform also charts the comparison between reserve companies' token accumulation data and stock price trends.

5、Crypto Stock Tracker

Introduction: The Crypto Stock Tracker data table includes stock Tickers, stock prices and intraday price fluctuations, market capitalization and circulating shares, the number of held crypto tokens and total value. Currently covering BTC, ETH, SOL, and XRP reserve companies, with a significant number of entries for each token's reserve companies. The right side of the interface features recent news on increased holdings and the latest news on upcoming increases in crypto reserve companies, along with recent platform update information.

Review: The X account of Crypto Stock Tracker was created in July, establishing a new data platform amidst the booming cryptocurrency reserves. It has recorded a significant number of cryptocurrency reserve companies, and the related viewpoints are fairly good. Compared to other platforms, it provides additional data on stock prices and circulating shares, which means the market capitalization data of reserve companies. This is more friendly for players considering buying U.S. stocks. If future updates are timely, it can be included in the future observation list for cryptocurrency reserve data.

6、cryptotreasuries.com

Introduction: cryptotreasuries.com is a new data and analysis platform for crypto strategic reserves launched in July. Currently, the number of recorded crypto reserve companies is limited, including 2 BTC reserve companies Strategy and Metaplanet, 2 ETH reserve companies Bitmine and Sharplink, 2 SOL reserve companies Upexi and DeFiDevelopment Corp, and one HYPE reserve company Hypreion DeFi.

Its comprehensive data column includes: company name, stock ticker, number of held crypto reserve tokens and total value, stock price, market capitalization, and MNAV.

Review: The interface of cryptotreasuries.com is simple and intuitive, with relatively few companies entered. Its advantage lies in the platform listing the reserve company data and holding ratios of recently increased token holdings. As a new platform, it may increase the data of more crypto reserve companies in the future, making it a "potential stock."

Conclusion

Currently, the pace at which publicly listed companies are transforming or advancing into entities as cryptocurrency reserve companies is relatively fast. For example, almost every week, several new companies announce their purchase or impending purchase of BTC as a strategic reserve. In addition to direct purchases, there are also methods such as financing or issuing new shares to increase their cryptocurrency reserves (it takes some time to raise funds after the news is announced). There are also some entities that are about to merge, making it difficult to calculate their market value and the amount of cryptocurrency reserves, so it is hard to provide particularly detailed data. Furthermore, there is a certain discrepancy in the overall data on cryptocurrency reserve companies. Additionally, the aforementioned platforms have also recorded the reserve data of cryptocurrency mining companies.

But overall it's not bad. Among the reserve company query websites/tools mentioned above, Blockworks is relatively leading, both in charts and data visuals. In addition, several new platforms have their own advantages in interface and data classification. Crypto Stock Tracker is the only platform that has recorded XRP reserves among the above platforms, cryptotreasuries.com is the only platform that has recorded HYPE among all the above platforms, and cryptotreasuries.info is the platform that has recorded the most BTC reserve companies among all query tools available today.

It is worth noting that all the platforms mentioned above have not updated Sharplink's ETH holdings data (yesterday, Sharplink Gaming increased its holdings by 15,822 ETH, raising its ETH reserves to 480,204 ETH, with a total value of 1.62 billion dollars).