Standard Chartered Says Ethereum Treasuries Emerge as Strongest Bet | US Crypto News
Welcome to the US Crypto News Morning Briefing—your important rundown of crucial developments in crypto for the day forward.
Grab a espresso as a result of the dialog round digital asset treasuries is unexpectedly shifting. Once seen as struggling automobiles weighed down by falling valuations, they could now maintain the important thing to the place institutional crypto demand flows subsequent.
Crypto News of the Day: Standard Chartered Sees Ethereum Treasuries as the Strongest Bet in Digital Assets
Digital asset treasuries (DATs), listed corporations holding cryptocurrencies on their stability sheets, have been beneath strain in current months. This got here as falling market NAVs (mNAVs) dragged share costs decrease.
However, based on Geoff Kendrick, Head of Digital Asset Research at Standard Chartered, the turbulence might sign not decline however alternative.
“Rather than signalling the tip of DATs, I feel this creates a possibility for differentiation,” Kendrick mentioned in an e mail.
He outlined three key drivers that can separate profitable gamers from the remaining: value of funding, scale, and yield.
Kendrick argues that Ethereum-based DATs are best positioned to thrive. While Bitcoin DATs account for round 4% of BTC provide, Ethereum DATs maintain 3.1% of ETH.
According to the Standard Chartered government, staking yields are an added benefit for Ethereum-based DATs, giving them a structural benefit.
“We suppose ETH and SOL DATs must be assigned increased mNAVs than BTC DATs because of staking yield,” he famous.
Bitmine’s Tom Lee estimates that staking yield alone might add 0.6 factors to Ethereum DATs’ mNAVs, bolstering sustainability.
A better mNAV alerts a enterprise mannequin able to buying extra crypto, whereas decrease ratios increase dangers of consolidation.
According to Kendrick, this course of would seemingly imply coin rotation, not contemporary shopping for.
Funding, Scale, and Regulation
In Kendrick’s view, low cost and inventive financing, such as convertible debt, reported in a current US Crypto News publication, can tilt the stability in favor of sure DATs.
Size additionally issues, with the most important companies tending to maintain increased mNAVs. Consolidation might speed up this dynamic, with weaker Bitcoin treasuries probably giving option to bigger, extra sustainable rivals.
Regulation provides one other wrinkle. Ethereum DATs are seen as extra established than Solana-based friends. This is amid studies that Nasdaq might require shareholder approval for crypto purchases.
The largest ETH DAT, BMNR, shouldn’t be Nasdaq-listed, permitting it to pursue methods pre-approved by traders.
With DATs collectively holding 4.0% of Bitcoin, 3.1% of Ethereum, and 0.8% of Solana, their methods instantly have an effect on market flows.
Kendrick harassed that increased mNAVs in Ethereum treasuries might translate into continued ETH shopping for at scale. By distinction, Bitcoin DATs face headwinds, with consolidation seemingly lowering internet demand.
“As a consequence, we see DATs as being a extra optimistic driver for ETH than BTC or SOL going ahead,” Kendrick mentioned.
While DATs stay beneath scrutiny, Ethereum’s staking yield, established presence, and relative insulation from regulatory hurdles might put it in pole place to form the following part of institutional crypto accumulation.
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Here’s a abstract of extra US crypto information to observe right this moment:
- Bitwise joins VanEck and Grayscale in race to launch Avalanche (AVAX) ETF.
- Fidelity predicts massive Bitcoin supply crunch—28% to fade from market.
- Is crypto’s ‘magnificent seven’ emerging by way of hypothesis superapps?
- Are corporate Bitcoin Treasuries risking shareholder value in the long term?
- Tether CEO Paolo Ardoino’s jibe exposes the EU’s digital forex struggles.
- XRP rally collapses; futures bets sign extra ache forward.
- Is September the turning point for Pump.fun and its PUMP token?
- Base emerges as a serious L2 contender with Solana Bridge and token plans.
Crypto Equities Pre-Market Overview
| Company | At the Close of September 15 | Pre-Market Overview |
| Strategy (MSTR) | $327.79 | $328.20 (+0.13%) |
| Coinbase (COIN) | $327.02 | $328.27 (+0.38%) |
| Galaxy Digital Holdings (GLXY) | $30.77 | $30.85 (+0.26%) |
| MARA Holdings (MARA) | $16.24 | $16.23 (-0.092%) |
| Riot Platforms (RIOT) | $16.68 | $16.78 (+0.60%) |
| Core Scientific (CORZ) | $16.32 | $16.40 (+0.49%) |
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