Standard Chartered Research Head: Ethereum will benefit more from the rise of DAT companies than BTC and SOL

According to The Block, Geoffrey Kendrick, global head of digital asset research at Standard Chartered Bank, said that Ethereum will benefit more from the rise of digital asset treasury (DAT) companies compared to BTC and Solana. The recent sharp decline in mNAV (the ratio of enterprise value to cryptocurrency holdings) of DAT companies will force differentiation among companies and may drive integration, especially in Bitcoin treasury companies. In contrast, Ethereum and Solana treasury companies should obtain higher mNAV because they can generate staking income, but Ethereum has a more stable position. Future DAT companies will be based on three factors: financing capacity, size and yield.