Crypto illiquidity is pressuring DeFi lending companies, but Wall Street giants continue to increase their exposure to the world’s largest Ethereum treasury company.
Large institutional investors continued to add exposure to crypto treasury companies over the past week, even as bear-market illiquidity forced another round of shakeouts across decentralized finance (DeFi).
The biggest corporate shareholders of Bitmine Immersion Technologies, including Morgan Stanley and Bank of America, increased exposure to the Ether (ETH) treasury company during Q4 2025 despite a broader market sell-off.
Still, ongoing bear-market illiquidity is forcing some protocols to wind down operations, with DeFi lender ZeroLend shutting down. Crypto analytics platform Parsec has also shuttered, citing crypto market volatility as the main reason.
