AIXC, a Nasdaq-listed microcap company, has sold all of its digital assets and ended its cryptocurrency treasury strategy.

On Sept. 4 local time, blockchain outlet U.Today reported that AIXC disclosed its plan to sell assets and restructure its business in an amended S-1 filing submitted to the U.S. Securities and Exchange Commission (SEC).

The core is locking in losses and changing the business focus. AIXC management said it posted about 50 percent unrealised losses in managing digital assets. The company put up for sale 33.49 BTC, 497.56 ETH and 6,325.92 SOL it held as of Aug. 31. It also sold Chainlink, BNB and ADA.

In regulatory documents, AIXC separately described its XRP holdings as "immaterial" and stressed that the main losses came from declines in bitcoin and ether prices.

After selling the assets, the company decided to change its business model. AIXC, which previously ran a pharmaceutical business, plans to fully pivot to the robotics market through the RoboShare platform after selling depreciated digital assets. It means it will focus resources on rebuilding its core business instead of maintaining a cryptocurrency treasury strategy.

Similar moves have emerged at other small listed companies. Tokyo-based Remixpoint sold all of its ETH, SOL, DOGE and 1,190,000 XRP in Asian markets and bought an energy storage system. It left only bitcoin on its balance sheet. Cases of small companies locking in altcoin losses to normalise operations are continuing.

By contrast, institutional money is taking a different approach. Around the same period, Kinetics Fund disclosed through an SEC filing that it directly holds Ripple Labs' Class A preferred shares. It approached the XRP ecosystem by investing in the issuer's equity rather than buying highly volatile tokens on exchanges.

The moves of EverNorse (XRPN), which specialises in an XRP treasury strategy, also contrast. EverNorse is preparing to list on Nasdaq through a SPAC merger while continuing to hold about 473,000,000 XRP on its balance sheet. While some companies classify XRP as an "immaterial" asset, others are maintaining large holdings even as they prepare to go public.

These trends also show it is difficult to say the corporate sector as a whole is exiting digital assets. In the market, small companies are reducing positions to cut operating risks, while other companies and institutions are adjusting how they hold assets and what they invest in. AIXC's sale is seen less as a broad retreat in the cryptocurrency market than as a case of a small listed company changing strategy to survive after losses widened.