Abraxas Capital Shifts $406M in Bitcoin and XAUT to Exchanges

Highlights:

• Abraxas Capital has moved over $400 million in digital assets to major exchanges.
• The company still holds over $2 billion worth of digital assets despite consistent dumping in the past. 
• Bitcoin’s price has dipped slightly as the crypto market attempts to recover from past declines.

London-based investment company Abraxas Capital (Alpha Bitcoin Fund) has yet again dumped significant crypto holdings into exchanges. Lookonchain, a renowned cryptocurrency transaction tracker, tweeted on April 24 that the investment firm deposited 4,835 Bitcoin (BTC), worth roughly $378 million, to Kraken. The company also deposited $28 million worth of Tether Gold (XAUT) into other major crypto exchanges, including Binance, Bybit, OKX, and Bitfinex. 

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Beyond the deposits above, Abraxas Capital has been actively dumping cryptocurrencies, especially Bitcoin. On April 16, Lookonchain reported a major dumping action involving 1,993 BTC, valued at approximately $148.32 million. According to the on-chain transactions tracker, the tokens were deposited into Kraken. “Since Mar 14, Abraxas Capital has deposited a total of 9,582 BTC ($691 million) to Kraken and still holds 20,337 BTC ($1.51 billion),” Lookonchain added in its post on April 16.

Abraxas Capital deposited 4,835 $BTC($378M) to #Kraken and 6,000 $XAUT($28M) to #Binance, #Bybit, #OKX, and #Bitfinex over the past hour.https://t.co/vZTxLPd2zq pic.twitter.com/rpZBxeHVM8

— Lookonchain (@lookonchain) April 24, 2026

Abraxas Capital Still Holds Significant Crypto Stores

Despite moving over $400 million in digital assets to crypto exchanges, Arkham Intelligence data show that Abraxas Capital still holds more than 100 cryptocurrencies worth over $2 billion. The majority of the company’s digital assets are tied to two of the world’s most valuable cryptocurrencies: Bitcoin and Ethereum (ETH). The rest are held in stablecoins like Circle’s USDC and Tether’s USDT. 

Bitcoin remains the most valuable asset in the company’s portfolio, according to Arkham Intelligence. For context, Abraxas Capital holds 19,791 BTC, valued at approximately $1.54 billion. Wrapped Ethereum (wETH), Ethereum, and Wrapped Staked Ethereum (wstETH) are also among the most valuable assets in the company’s portfolio, worth approximately $133.75 million, $130.49 million, and $114.33 million, respectively. 

Other assets worth over $10 million include Coinbase Wrapped Bitcoin (cbBTC), XAUT, Lightning Bitcoin (LBTC), and Wrapped Bitcoin (WBTC). Each of these cryptocurrencies is valued at roughly $39.03 million, $33.32 million, $26.28 million, and $13.23 million, respectively. The combined value of other assets in the portfolio, including USDC and USDT are worth less than $10 million. 

Bitcoin supply is moving into stronger hands.

Over the last 30 days:
• Long Term Holder Supply: +303K BTC
• ETF Netflows: +16.8K BTC
• Strategy: +53.0K BTC

And meanwhile:
• Short Term Holder Supply: -290K BTC pic.twitter.com/LeoKkZ3MMq

— CryptoQuant.com (@cryptoquant_com) April 22, 2026

Bitcoin Dips Slightly as Abraxas Capital Shifts $406M in BTC and XAUT

At the time of press, the crypto market is 0.1% in the past 24 hours. The market has a market cap of about $2.678 trillion, with a trading volume of approximately $94.069 billion. Bitcoin’s dominance sits at 58.2%, while Ethereum stays at 10.4%.

Like the crypto market, Bitcoin dipped by 0.8% during the same window. It has a market cap of roughly $1.56 trillion and a trading volume of $36.99 billion. The asset has also declined by 0.2% in the past week. However, BTC spiked 6.7% 14-day-to-date and 9.1% month-to-date. The asset is also below its $126,080 all-time high by 38.3%. 

While Abraxas Capital continues to dump BTC, interest from institutional investors and whales has remained strong. On April 23, Crypto2Community reported that Bitcoin had shifted to strong hands amid massive dumping by retailers. According to the publication, long-term investors purchased 303,000 BTC in the past 30 days, while short-term holders dumped 290,000 BTC during the same window. 

Michael Saylor’s Strategy has also been accumulating BTC. On April 20, the company announced a new purchase worth 34,164 BTC for $2.54 billion at an average cost of $74,395 per BTC. Currently, the company holds 815,061 BTC worth approximately $61.56 billion at the rate of $75,527 per token.  

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