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In the 2025 global BTC holdings top 20, two Chinese concept stock listed companies have entered the spotlight, which is quite interesting.
Cango ranks 16th, currently holding 7,419 BTC. This company originated from auto loan finance but has now become a major holder of crypto assets. The other is Next Technology Holding, ranked 18th with a holding of 5,833 BTC. It was originally a platform focused on micro-business SaaS.
What is even more intriguing is that both are listed on the US stock market. Their transition from traditional finance and consumer technology into the Bitcoin market to some extent reflects the increasing recognition of institutional allocation to crypto assets.