"Institutions Adopting Digital Asset Treasuries to Become Central to Future Web3 Economic Growth"

The crypto asset (cryptocurrency) holdings of institutions that have adopted Digital Asset Treasuries (Digital Asset Treasuries·DAT) amount to $105 billion, effectively determining the supply of major blockchain networks. Alongside analyses that this is a short-term speculative frenzy, analyses suggest that in the long term it could emerge as a core growth engine of the Web3 economy.

Ryan Watkins, an analyst at Syncracy Capital, said in a report released on the 23rd, "Current market discussions focus on short-term perspectives such as the scale of capital inflows, the duration of the premium, and the next popular assets," and pointed out that "many DATs lack substantive foundations beyond financial engineering, so they are likely to disappear when the cycle ends."

However, he projected, "This period will be recorded as an early stage in securing an advantage in cryptocurrency holdings," and "major DATs will enhance their capital structures, refine operating strategies, and move beyond simple financial management to diversify services." In fact, some institutions already hold more assets than the related protocol foundations, and their expansion is accelerating.

Watkins expected that, in the long term, institutions adopting DAT could evolve into 'a listed-company version of foundations.' He explained that they could expand beyond simple asset management into ecosystem investment, business operations, and governance participation, playing a central role in the Web3 market.