Crypto treasury model loses its edge as stock premiums fade: DWF
60-second summary
DWF reports that most Digital Asset Trusts (DATs) now trade below the value of their underlying crypto holdings, eroding the premium that once let firms finance balance‑sheet growth through token‑backed loans. As stock‑linked premiums disappear, companies lose a cheap capital source, prompting tighter liquidity and potentially slowing expansion across the crypto‑focused corporate sector.
Most DATs now trade below the value of their crypto holdings, weakening a financing model that once helped companies expand their balance sheets.