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Digital asset management companies – public entities that allocate cryptocurrency to provide the shares investors need to gain exposure to digital assets – are moving from Bitcoin (BTC) to Ethereum (ETH). For the first time in history, Ethereum (ETH) is above Bitcoin (BTC) in the share of supply owned by DAT.
Ethereum (ETH) Reverses Bitcoin (BTC) in Institutional Appetite, This Metric Says: Analyst Leon Waidmann
Ethereum (ETH), the second largest cryptocurrency, just surpassed Bitcoin (BTC) in the main institutional buying strategy. Digital asset management companies hold nearly 4% of the Ethereum (ETH) supply, compared to 3.6% for Bitcoin (BTC).
Such observations were made by Leon Waidmann, head of research at the Onchain Foundation. For context, two months ago, the share of Bitcoin (BTC) in DAT escrow was twice that of Ethereum (ETH).
Waidmann identified staking revenue, the growth of layer 2 solutions, and RWA tokenization as three trends driving interest in Ethereum (ETH).
He is also sure that Ethereum’s (ETH) dominance trend is far from over here:
Serious money seems to prefer ETH. The momentum is likely to continue. Interesting times.
As reported in U.Today earlier, Tom Lee’s Bitmine Immersion and Joseph Lubin’s Sharplink Gaming are among the most notable Ethereum-focused DATs.
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Together, the two companies control about $10 billion in Ethereum (ETH).
Solana (SOL) DAT Ecosystem Reaches $4B
Some commentators have pointed out that Ethereum (ETH) is still trading below its all-time highs, indicating potential upside for the company.
Cryptocurrency DATs are becoming mainstream due to their convenience for traditional retail investors, including family offices, pension funds, i.e. entities that are not interested in holding cryptocurrency but are looking for an opportunity to benefit from this volatility.
Solana Treasuries (SOL) are currently growing in popularity. More than 20 companies have added SOL to their balance sheets, the capital markets showed.
In total, their allocations exceed $4 billion in Solana (SOL)
