benzinga.com
Grayscale says crypto treasury firms are likely to remain a permanent fixture of the investing landscape as they diversify .
DATs Stabilized Through Strategic Approaches
In a post on March 26, Grayscale head of research Zach Pandl noted that DATs surged last year as strong valuations enabled aggressive token accumulation and inspired similar firms.
However, by late 2025, momentum weakened as many shares traded below their underlying crypto values, raising questions about sustainability and even prompting concerns that some firms could be excluded from benchmark indices.
More recently, DATs have regained stability by improving capital structures, generating yield through staking and decentralized finance.
Crypto Treasury Firms Still Accumulate
Despite earlier volatility, forced liquidations among DATs have remained rare, and many continue to accumulate digital assets. Grayscale said these points point to a maturing segment of the market that offers both benefits and trade-offs compared with crypto exchange-traded products.
Data from CoinGecko showed the total value of corporate crypto treasuries rose 1.8% over the past 24 hours to $99 billion.
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