DAT segment reaches its turning point.
By Maxime Laurent · Published: 2025-09-12 12:21 · Modified: 2025-09-12
DAT segment reaches its turning point.
Coinbase analysts just dropped a spicy take: the DAT space (Digital Asset Trusts) is no longer in its playful “early adoption” phase, but it’s also far from mature. We’re in that messy middle — competition is brutal, regulators are circling, and execution suddenly matters more than hype.
Here’s the picture: these structures already control 5% of $BTC’s supply and 4% of $ETH’s. Meanwhile, in 2025, 154 U.S. companies raised nearly $100B to buy crypto — compare that to just $33B raised by 10 firms the year before. That’s a tidal wave of capital 🌊, but it doesn’t automatically mean easy wins anymore.
mNAV premiums? Shrinking. The game is no longer about copy-pasting a strategy but about sharp execution, timing, and differentiation. Think less “everyone wins” and more pure PvP. Nasdaq’s tighter oversight is the cherry on top, showing that the Wild West vibes are fading.
Bottom line: les jours faciles are over. The disciplined, the strategic, the ones who actually deliver — they’ll be the ones feasting in this new era. The rest? They’ll be someone else’s liquidity.
#BTC #ETH #Coinbase #DAT #institutions #crypto #markets
Coinbase analysts just dropped a spicy take: the DAT space (Digital Asset Trusts) is no longer in its playful “early adoption” phase, but it’s also far from mature. We’re in that messy middle — competition is brutal, regulators are circling, and execution suddenly matters more than hype.
Here’s the picture: these structures already control 5% of $BTC’s supply and 4% of $ETH’s. Meanwhile, in 2025, 154 U.S. companies raised nearly $100B to buy crypto — compare that to just $33B raised by 10 firms the year before. That’s a tidal wave of capital 🌊, but it doesn’t automatically mean easy wins anymore.
mNAV premiums? Shrinking. The game is no longer about copy-pasting a strategy but about sharp execution, timing, and differentiation. Think less “everyone wins” and more pure PvP. Nasdaq’s tighter oversight is the cherry on top, showing that the Wild West vibes are fading.
Bottom line: les jours faciles are over. The disciplined, the strategic, the ones who actually deliver — they’ll be the ones feasting in this new era. The rest? They’ll be someone else’s liquidity.
#BTC #ETH #Coinbase #DAT #institutions #crypto #markets
Disclaimer: This content is for informational purposes only and not financial advice.