Amdax invests €20 million in AMBTS

In August 2025, the Dutch company Amdax introduced AMBTS B.V., a vehicle dedicated to the accumulation of Bitcoin, with approximately €20 million already committed.

Looking ahead, a listing on Euronext Amsterdam is planned – a choice aimed at attracting institutional capital – and, as a stated goal, the accumulation of 1% of the BTC supply. These indications emerge from the official statement by Amdax Amdax and as reported by Reuters (August 18, 2025).

According to the data collected by Amdax in the statement of August 18, 2025, the vehicle was launched with approximately €20 million already committed and an explicit mandate to accumulate BTC.

The industry analysts I work with observe that achieving large-scale objectives requires multiple capital raising sequences and a diluted purchase execution over time to limit slippage.

In practical terms, the estimates updated at the launch indicate that the initiative will need to combine fresh capital and market instruments to scale sustainably.

Corporate Bitcoin Treasury: Definition and Purpose

A corporate Bitcoin treasury is a structure that incorporates BTC as a balance sheet asset, supported by formal processes of governance, custody, and reporting.

Purchases can be made with own capital or through capital market operations, with the aim of creating value over time and diversifying the company’s liquidity.

It should be noted that operational discipline and transparency become essential components for sustainable management. Insights on cases of Bitcoin treasury in companies are available on our site.

AMBTS: structure, governance, and capital

Amdax has established AMBTS as a separate entity, with independent governance and a specific mandate on BTC accumulation.

In the first funding round, approximately €20 million are committed; the project subsequently aims to use additional market instruments to progressively expand its position in Bitcoin. An interesting aspect is the choice of a dedicated vehicle, designed to engage with professional and institutional investors.

Sources indicate that AMBTS aims for the listing on Euronext Amsterdam to access institutional capital and support the expansion of the treasury strategy. In this context, the control structure and reporting processes take on a central role.

1% BTC Target: Numbers, Scale, and Feasibility

1% of the maximum supply of Bitcoin is equivalent to approximately 210,000 BTC (out of a total of 21 million). To give an idea of the scale:

• Initial capital: ~€20 million.
• Order of magnitude: assuming, for example, a price of €50,000 per BTC, €20 million would correspond to approximately 400 BTC.
• Gap to fill: to reach 210,000 BTC, significantly higher capital and a prolonged horizon would be needed, likely through further capital increases and the use of specific market instruments.

The achievement of such an ambitious target will depend on subsequent waves of fundraising, market liquidity and volatility, as well as adherence to regulatory requirements. It must be said that execution capability will play a significant role.

Timeline and Quotation: What to Expect

Amdax indicates the listing of AMBTS on Euronext Amsterdam as the next strategic step. Currently, the regulatory status and details about the board composition have not yet been disclosed: elements that will define the timing and methods of the listing.

An interesting aspect is the possible sequence: authorizations, disclosure, and then admission, with potential intermediate fundraising stages.

The global context: from corporate America to Europe

In recent years, several publicly traded companies have introduced treasury policies in Bitcoin. The most cited case is that of MicroStrategy; even companies not strictly crypto – such as Tesla, Aker, and MercadoLibre – have explored this strategy.

Amdax’s initiative brings to Europe a model based on a dedicated vehicle that aims to raise capital in the regulated market, with a focused and verifiable structure.

Typical Operational Strategies of a Bitcoin Treasury

• Progressive purchases to contain slippage and distribute risk over time.
• Financing through equity, ATM programs, convertible debt, or secured loans.
• Custody in cold storage with multi-signature controls or reliance on regulated providers.
• Risk management with exposure limits, stress tests, and periodic reviews.
• Transparency through recurring reporting and independent audits.

Market Implications if the 1% Target Gains Traction

The significant accumulation of Bitcoin by listed vehicles could squeeze the circulating supply, affecting demand and potentially the price. In this context, the actual impact will depend on the speed of purchases, the market liquidity, the presence of other institutional buyers, and the timing of executions.

Data and Quotes

“Amdax launches Amsterdam Bitcoin Treasury Strategy (AMBTS)” — company statement, August 2025.

“…aims to launch a Bitcoin treasury company and list on Euronext Amsterdam.” — Reuters, August 18, 2025.

Risks and Points of Attention

• Volatility of the underlying asset and impact on equity.
• Regulation evolving for crypto instruments on regulated markets.
• Concentration of risk on a single asset.
• Operations: custody, cybersecurity, and compliance with AML/KYC regulations.

Conclusion

With AMBTS, Amdax introduces in Europe a Bitcoin treasury vehicle with an initial collection of €20 million, a path towards listing on Euronext Amsterdam and the long-term goal of accumulating 1% of the BTC supply.

The final result will depend on the ability to attract additional capital, the accuracy in execution, and the evolution of the regulatory framework in the coming months.