UPDATE -- Exodus Movement, Inc. November 2025 Treasury Update and Monthly Metrics
Rhea-AI Summary
Exodus Movement (NYSE American: EXOD) provided its November 30, 2025 treasury and monthly metrics update. Key treasury figures: 1,902 BTC (down from 2,147 BTC in October), of which 1,116 BTC is pledged as collateral under the Galaxy Digital credit facility, and 2,802 ETH. Solana holdings fell to 31,050 SOL from 49,567.
User and volume metrics: 1.5 million MAUs (vs 1.6M in October). Exchange provider processed swap volume was $549 million in November (October: $683M), with $200 million (36%) from XO Swap partners.
The company said it is using its treasury to facilitate the announced acquisition of W3C and retains financing optionality to meet transaction cash needs.
Positive
- Corporate treasury includes 1,902 BTC and 2,802 ETH
- 1,116 BTC pledged provides structured financing under credit facility
- XO Swap share of exchange volume remained near 36%-37%
Negative
- BTC holdings down ~11.4% MoM (2,147 to 1,902 BTC)
- SOL holdings down ~37.4% MoM (49,567 to 31,050 SOL)
- Exchange provider swap volume down ~19.6% MoM ($683M to $549M)
- 1,116 BTC pledged as collateral may limit near-term treasury flexibility
Key Figures
Market Reality Check
Peers on Argus 1 Up
Peers show mixed moves, with examples ranging from -8.54% (SABR) to slight gains like 0.47% (IIIV). Momentum scanner only flags CGNT up 10.59% without related news, suggesting EXOD trading is more stock-specific than sector-driven.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 01 | W3C deal advisory | Positive | -10.4% | Advisor highlighted $175M W3C sale and $60M term loan for Exodus deal. |
| Nov 24 | W3C acquisition | Positive | +3.6% | Definitive W3C deal to add end-to-end card and payments infrastructure. |
| Nov 10 | Q3 2025 earnings | Positive | +1.1% | Q3 revenue and net income grew strongly with higher exchange activity. |
| Nov 10 | Grateful acquisition | Positive | +1.1% | Acquisition of Grateful to bolster stablecoin-based merchant payments. |
| Nov 06 | October treasury update | Neutral | -7.7% | Detailed October BTC, ETH, SOL balances and MAUs with swap volume data. |
Strategic acquisitions and strong earnings have generally seen positive price reactions, while treasury/structural updates and deal-detail disclosures have coincided with sharper drawdowns.
Over the last few months, Exodus reported strong Q3 2025 results with revenue of $30.3 million and net income of $17.0 million, alongside robust exchange volume of $1.75 billion. The company has been pivoting deeper into payments via acquisitions of W3C Corp for about $175 million and Grateful, plus monthly treasury updates that track BTC, ETH, and SOL balances and user activity. The November 2025 treasury update continues this cadence, showing shifts in digital asset holdings, MAUs at 1.5 million, and swap volume trends versus October.
Market Pulse Summary
This announcement provides a detailed snapshot of Exodus’s November 2025 position, including 1,902 BTC (with 1,116 BTC pledged), 2,802 ETH, and 31,050 SOL in treasury holdings. It also reports 1.5 million monthly active users and $549 million in swap volume, with $200 million from XO Swap partners. Investors may track trends versus October levels alongside the company’s stated intent to deploy its treasury toward acquisitions like W3C to understand evolving risk and growth drivers.
Key Terms
self-custodial technical
cryptocurrency technical
credit facility financial
AI-generated analysis. Not financial advice.
Digital asset holdings facilitate Exodus’ agreement to acquire W3C
OMAHA, Neb., Dec. 09, 2025 (GLOBE NEWSWIRE) -- Exodus Movement, Inc. (NYSE American: EXOD) ("Exodus" or “the company”), a leading self-custodial cryptocurrency platform, today announced an update to selected digital asset holdings of Exodus’ corporate treasury, as well as updated user and exchange provider processed volume metrics, as of November 30, 2025:
Selected Digital Asset Holdings (Unaudited)
Bitcoin (BTC): 1,902 BTC as of November 30, 2025, compared to 2,147 BTC as of October 31, 2025.
Of the 1,902 BTC held as of November 30, 2025, 1,116 BTC is pledged as collateral under the Company’s credit facility with Galaxy Digital.
Ethereum (ETH): 2,802 ETH as of November 30, 2025 compared to 2,784 as of October 31, 2025.
Solana (SOL): 31,050 SOL as of November 30, 2025 compared to 49,567 as of October 31, 2025.
Exodus CFO James Gernetzke remarked: “Our announcement of the acquisition of W3C highlights how we are putting our treasury to work. The transaction will have future cash needs as it goes through the closing process; Exodus retains financing optionality to meet these needs, including directly using operational proceeds in our treasury.”
“While Exodus holds digital assets, we have never been a ‘Digital Asset Treasury’ company as the majority of our treasury was earned through business operations. Pursuant to our stated M&A goals, Exodus remains ready and willing to use our treasury to facilitate strategic acquisitions.”
Users
Monthly Active Users (MAUs): 1.5 million as of November 30, 2025. That figure compares with the 1.6 million MAUs as of October 31, 2025.
Swap Volume
Exodus’ exchange provider processed volume was
About Exodus
Exodus is a financial technology leader empowering individuals and businesses with secure, user-friendly crypto software solutions. Since 2015, Exodus has made digital assets accessible to everyone through its multi-asset crypto wallets prioritizing design and ease of use.
With self-custodial wallets, Exodus puts customers in full control of their funds, enabling them to swap, buy, and sell crypto. Its business solutions include Passkeys Wallet and XO Swap, industry-leading tools for embedded crypto wallets and swap aggregation.
Exodus is committed to driving the future of accessible and secure finance. Learn more at exodus.com or follow us on X at x.com/exodus.
Investor Contact
investors@exodus.com
Media Contact
Aubrey Strobel/Elena Nisonoff, Halcyon Communications
exodus@halcyonpr.xyz
Disclosure Information
Beginning with the next release, the Company is transitioning to issuing its monthly selected digital asset holdings of Exodus’ corporate treasury, as well as updated user and exchange provider processed volume metrics solely by press release and does not plan to furnish corresponding Form 8-K filings going forward.
Exodus uses the following as means of disclosing material nonpublic information and for complying with disclosure obligations under Regulation FD: websites exodus.com/investors and exodus.com; press releases; public videos, calls, and webcasts; and social media: X (@exodus and JP Richardson's feed @jprichardson), Facebook, LinkedIn, and YouTube.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements are based on our beliefs and assumptions and on information currently available to us as of the date hereof. In some cases, you can identify forward-looking statements by the following words: “will,” “expect,” “would,” “should,” “intend,” “believe,” “expect,” “likely,” “believes,” “views”, “estimates”, or other comparable terminology.
Forward-looking statements in this document include, but are not limited to, management statements regarding management’s confidence in our products, services, business trajectory and plans, expectations regarding demand for our products, and volatility and trading volumes of digital asset markets. Such forward-looking statements involve a number of risks, uncertainties and other important factors that could cause our actual results to differ materially from those expressed or implied by our forward-looking statements. Such factors include those set forth in “Item 1. Business” and “Item 1A. Risk Factors” of Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 6, 2025, as well as in our other reports filed with the SEC from time to time.
All forward-looking statements are expressly qualified in their entirety by such cautionary statements. Readers are cautioned not to place undue reliance on such forward-looking statements. Except as required by law, we undertake no obligation to update or revise any forward-looking statements that have been made to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events.
FAQ
How many bitcoin does Exodus (EXOD) hold in its corporate treasury as of November 30, 2025?
How much of Exodus's bitcoin treasury is pledged as collateral under its credit facility?
What was Exodus's exchange provider processed volume for November 2025 and how did it compare to October?
How did Exodus's Solana (SOL) treasury holdings change in November 2025?
What did Exodus say about using its treasury for the W3C acquisition announced in 2025?
