Bitwise CIO: ETFs Not the Main Cause of DAT Premium Contraction; New Bitcoin Bull Market Could Revive Premiums

Odaily News: Bitwise Chief Investment Officer Matt Hougan said that market trends, rather than the launch of Bitcoin ETFs, are the main driver of the premium contraction at digital asset treasury (DAT) companies. He noted that he had previously held a bearish view on DATs, believing that except for leading companies in a few niche segments, such businesses may have lost room for growth. However, after studying the relevant data, he found that ETFs did not end the DAT premium as he had previously expected, and that market performance is the more important factor. If Bitcoin enters a new bull market, valuation premiums for DAT companies could still reappear.