Corporate Crypto Treasury Monitor: Abra's Quarterly Corporate Crypto Treasury Survey
The Corporate Crypto Treasury Monitor is Abra's quarterly corporate crypto treasury survey of CFOs, treasurers and controllers on digital assets.
The Corporate Crypto Treasury Monitor is Abra's quarterly corporate crypto treasury survey of CFOs, treasurers and controllers on digital assets. Each edition asks whether companies hold digital assets, which ones, in what size, what stops the others, how FASB ASU 2023-08 changed intent and what treasurers plan next quarter. Results are self-reported and each quarter uses a new sample.
Key Values and Recommendations
- The Monitor is a quarterly survey of corporate finance leaders screened for CFO, treasurer, controller, VP of finance or equivalent titles; the questionnaire and data tables are available on request.
- It tracks six things each quarter: adoption, asset mix, allocation size, barriers, the effect of FASB ASU 2023-08 and next-quarter intent.
- Each edition uses a separately recruited sample, so quarter-to-quarter movement should be read as directional, not as trend, and year-over-year comparison begins once four editions exist.
- Findings are self-reported and are not verified against filings; respondents are never prompted with provider names.
- Abra Capital Management, LP is an SEC-registered investment adviser (Abra Capital Management, LP, Form ADV Part 3 (Form CRS), SEC Investment Adviser Public Disclosure, March 31, 2026; IAPD firm record, CRD No. 323353 / SEC File No. 801-129529) and offers stablecoin yield and digital asset strategies to corporate clients; weigh that interest when reading the findings.
How is the Corporate Crypto Treasury Monitor conducted?
The Corporate Crypto Treasury Monitor is a quarterly survey of corporate finance leaders conducted by Abra Treasury. Respondents are screened for a finance leadership title: CFO, treasurer, controller, VP of finance or equivalent. Each edition states its sample size, fieldwork dates, company size criteria and collection method in this section, and the appendix table shows the sample mix by title, company size, industry and public or private status.
Results are unweighted unless stated. Where a figure is compared to a prior quarter, the prior figure comes from the same question asked of a separately recruited sample, so quarter-to-quarter movement should be read as directional. Respondents are not prompted with provider names anywhere in the questionnaire, and the barrier list does not mention any specific product or strategy. Open-text responses are coded into themes, and anonymized verbatim quotes appear in the full report.
Abra Capital Management, LP is an SEC-registered investment adviser that offers stablecoin yield and digital asset strategies to corporate clients (Abra Capital Management, LP, Form ADV Part 3 (Form CRS), SEC Investment Adviser Public Disclosure, March 31, 2026; IAPD firm record, CRD No. 323353 / SEC File No. 801-129529). Registration does not imply a certain level of skill or training. Readers should weigh that interest when interpreting the findings. The full questionnaire and data tables are available on request, and the methodology is held constant between editions so that the series stays comparable.
What does the Monitor measure each quarter?
Every edition asks the same six blocks of questions in the same order, so that a treasurer can compare editions and so that a figure quoted from one quarter means the same thing in the next.
The design follows the questions a treasury committee asks in the order it asks them: whether peers hold digital assets, which ones and how much, what stopped the companies that do not, whether the accounting change under FASB ASU 2023-08 altered the calculus, and what finance leaders expect to do next. Each block reports the headline figure, the split by company size and by public or private status, and the change from the prior edition.
- Adoption: whether the company currently holds digital assets in treasury, is actively evaluating, or has no plans.
- Asset mix: which assets are held among stablecoins, bitcoin, ether and other assets, with multiple selections allowed.
- Allocation size: the allocation as a share of investable cash, reported in bands, with a median.
- Barriers: a ranking of accounting complexity, board resistance, custody concerns, regulatory uncertainty, talent and expertise gaps, and no business case, with respondents ranking their three main barriers.
- Accounting: whether FASB ASU 2023-08 made an allocation more likely, less likely or had no effect, and how far implementation has progressed.
- Intent: whether non-holders plan a first allocation next quarter and whether holders plan to increase, reduce or hold.
How does the Monitor measure corporate digital asset adoption?
The adoption block asks each respondent whether their company currently holds digital assets in treasury, has an active evaluation underway, or has no current plans. The three answers are mutually exclusive, and the headline adoption rate is the share choosing the first. These are self-reported figures from finance leaders and are not verified against filings, so they measure what finance leaders say about their own companies rather than what public disclosures show.
Adoption is then split by company size band, by industry and by public or private status. Public companies may report differently from private companies because they carry disclosure obligations, so a gap between the two should be read with that in mind rather than as a difference in appetite alone. Each edition reports the rate in the upper and lower size bands and names the industries at each end of the range.
The comparison with the prior quarter is reported alongside the headline rate. Because each quarter uses a separately recruited sample, movements inside the margin of error are not treated as trend, and the report says so next to the figure. Year-over-year comparison begins once four editions have been published.
Which digital assets do companies hold, and how large are allocations?
Among respondents whose companies hold digital assets, the asset mix block asks which of stablecoins, bitcoin, ether and other assets are held. Respondents can select more than one, so the shares do not sum to the total. Allocation size is asked as a share of investable cash and reported in bands with a median, because the question a board asks is not whether peers hold digital assets but how much.
The block also asks stablecoin holders whether a yield strategy is used on some or all of the position, or whether the stablecoins are held for payments or as unremunerated cash, and who owned the yield decision. This tests whether stablecoin yield is functioning as a cash-management decision rather than an investment allocation, which is how the CFO's guide frames it. Respondents are not asked about any specific provider.
For context only, Abra's USDaf dollar yield strategy targets 4 to 10% APY, variable and not guaranteed, and is not FDIC insured (FDIC, Fact Sheet: What the Public Needs to Know About FDIC Deposit Insurance and Crypto Companies, July 28, 2022; SIPC, What SIPC Protects). USDaf is not a bank deposit, is not FDIC insured and is not guaranteed; principal is at risk. Target ranges are not floors or guarantees, and realized results may fall outside them. That figure is Abra's, not a survey finding, and it appears here so that a reader can place the yield question in a range. Abra Capital Management, LP is an SEC-registered investment adviser. Registration does not imply a certain level of skill or training.
USDaf dollar yield strategy
What barriers to adoption does the Monitor track?
Respondents whose companies have not adopted rank their barriers from a fixed list: accounting complexity, board resistance, custody concerns, regulatory uncertainty, talent and expertise gaps, and no business case. Each respondent ranks their three main barriers, and the report shows the share naming each barrier first and the share naming it anywhere in their three.
The ranking is reported separately for companies evaluating and companies with no plans. When the barrier that leads among evaluators is operational, such as accounting complexity or custody concerns, it suggests the remaining obstacles are practical rather than philosophical. When the barrier that leads among companies with no plans is board resistance or no business case, it suggests the conversation has not started. The two groups are shown side by side so a treasurer can see which one their company resembles.
Open-text responses are coded into themes and the recurring themes are named in the report, with anonymized verbatim quotes in the full edition. The barrier list is kept constant between editions and does not mention any product, strategy or provider.
How has FASB ASU 2023-08 affected adoption intent?
FASB ASU 2023-08 requires fair-value measurement of in-scope crypto assets with changes in net income (FASB Accounting Standards Update No. 2023-08, Intangibles—Goodwill and Other—Crypto Assets (Subtopic 350-60), December 2023 (ASC 350-60-35-1)), effective for fiscal years beginning after December 15, 2024, including interim periods within those fiscal years (FASB ASU 2023-08, Intangibles—Goodwill and Other—Crypto Assets (Subtopic 350-60), December 2023, transition guidance at ASC 350-60-65-1). Respondents are asked whether the standard changed their company's intent: whether it made an allocation more likely, had no effect, or made an allocation less likely. Those answering less likely are asked why, and earnings volatility is one of the candidate reasons offered.
Respondents at companies holding crypto assets are asked how far implementation has progressed: fully implemented, in progress, or not started. Those who have implemented are asked how long the work took from decision to first reporting period and which element was hardest, from a list covering scope analysis, price source and cut-off, custodian reconciliation, ERP configuration and disclosure preparation.
The requirements themselves are summarized on Abra's ASU 2023-08 research page. The Monitor's contribution is the implementation experience of finance leaders, which the standard's text does not tell you.
FASB ASU 2023-08 crypto accounting: what CFOs need to know
What do treasurers plan for the next quarter, and how should you read it?
Looking ahead one quarter, non-holders are asked whether they plan a first allocation, and holders are asked whether they plan to increase, reduce or hold. Those planning to allocate or increase choose their reasons from a list; those planning to reduce do the same. The following edition repeats the questions and reports how many followed through, so that stated intent can be checked against reported action.
Stated intentions in surveys tend to run ahead of actions, and the report says so beside the figures. That is a general behavioural finding from psychology research, where intentions are translated into action roughly half the time (Sheeran, P. & Webb, T.L., "The Intention-Behavior Gap," Social and Personality Psychology Compass (2016)); it has not been measured for corporate investment decisions and is offered as a caution, not as a rate that applies to these responses. Forward-looking answers describe intent, not commitments, and they are not a forecast of market activity or of any asset's price. Read this section as a reading of sentiment among finance leaders at a point in time.
For a treasurer writing a committee memo, the useful comparison is between your company's position and the distribution of intent among companies of similar size and status, not the headline number. Each edition provides that split.
How can you cite or use the Monitor?
Cite the Monitor by edition: Abra Treasury, Corporate Crypto Treasury Monitor, the quarter and year, and the URL of this page. Each edition states its sample size, fieldwork dates and collection method in the methodology section, and those details should travel with any figure you quote. Where a figure is a comparison with a prior quarter, quote the caveat on separately recruited samples with it.
The full questionnaire, the appendix table of respondent profile and the data tables are available on request for each edition. Journalists and researchers can request them through the contact page; treasurers using a figure in a board paper are welcome to do the same. New editions are published each quarter and the prior editions remain online, so the series can be read as a whole. Subscribers receive each edition when it is published.
Contact Abra's institutional and private client teams
Frequently asked questions
Get each quarterly edition
Receive the Monitor when each edition is published, with the questionnaire and data tables available on request. One email a quarter, nothing else.
Questions, answered.
The Monitor is a quarterly survey of corporate finance leaders screened for CFO, treasurer, controller, VP of finance or equivalent titles. Each edition states its sample size, fieldwork dates, company size criteria and collection method in the methodology section. Results are unweighted unless stated. Abra Treasury designs the questionnaire, holds it constant between editions, and makes the full instrument and data tables available on request.
The asset mix block asks respondents whose companies hold digital assets which of stablecoins, bitcoin, ether and other assets they hold, with multiple selections allowed, and reports the share holding bitcoin. It is a self-reported figure from the survey sample, not a count of public filings. Allocation size is reported separately in bands as a share of investable cash, with a median.
It tests that question directly. Stablecoin holders are asked whether a yield strategy is used on some or all of the position or whether the stablecoins are held for payments or as unremunerated cash, and who owned the decision. Each edition reports the result. Abra offers such a strategy, so readers should weigh that interest when interpreting the finding; respondents are not asked about any provider.
Year-over-year comparison becomes available once four editions have been published. Until then the Monitor reports quarter-over-quarter movement in the headline adoption rate from the prior edition. Because each quarter uses a separately recruited sample, movements inside the margin of error are read as directional rather than as trend, and the report states this next to the figure.
Request them through the contact page, naming the edition you need. Abra Treasury provides the full questionnaire, the appendix table of respondent profile by title, company size, industry and public or private status, and the data tables for each block of questions. Subscribers receive each new edition when it is published, and prior editions stay online so the series can be read as a whole.
Sources
- Abra Treasury, Corporate Crypto Treasury Monitor, quarterly survey data (edition, sample size, fieldwork dates and collection method stated in each edition's methodology section)
- FASB Accounting Standards Update No. 2023-08, Intangibles, Goodwill and Other, Crypto Assets
- Abra USDaf strategy disclosures, August 2026
- Abra Capital Management, LP Form ADV
Disclaimer. Survey findings are self-reported by respondents and are presented for informational purposes; they are not accounting, tax, legal or investment advice. Abra Capital Management, LP is an SEC-registered investment adviser and offers digital asset strategies to corporate clients. Registration does not imply a certain level of skill or training. Digital assets and stablecoin yield strategies involve a high degree of risk, including loss of principal, and are not insured by the FDIC or any government agency. Yield targets are variable and not guaranteed. Yield strategy tokens (BTCaf, ETHaf, SOLaf, USDaf, XRP yield) are issued by AbraFi and accessed through Abra Capital Management. Consult your auditors and counsel before acting on any finding.
