Digital asset treasury companies — the public entities allocating cryptocurrency to provide the stocks investors need for exposure to digital assets – are moving their focus from Bitcoin BTCUSD toward Ethereum ETHUSD. For the first time in history, Ethereum ETHUSD is over Bitcoin BTCUSD in the share of the supply owned by DATs.

Ethereum ETHUSD flips Bitcoin BTCUSD in institutional appetite, this metric says: Analyst Leon Waidmann

Ethereum ETHUSD, the second largest cryptocurrency, has just exceeded Bitcoin BTCUSD in the major institutional purchasing strategy metric. Digital asset treasury companies are holding almost 4% of the Ethereum ETHUSD supply, while for Bitcoin BTCUSD, this metric sits at 3.6%.

Such observations were made by Leon Waidmann, Head of Research at Onchain Foundation. To provide context, two months ago, Bitcoin’s BTCUSD share in DAT’s custody was twice as big as Ethereum’s ETHUSD.

Waidmann indicated staking yield, layer-2 solution growth and RWA tokenization as three trends boosting interest in Ethereum ETHUSD.

Also, he is certain that the trend of Ethereum’s ETHUSD dominance here is far from being over:

Serious money seems to prefer ETH. Momentum likely continues. Interesting times.

As covered by U.Today previously, Tom Lee’s Bitmine Immersion and Joseph Lubin’s Sharplink Gaming are among the most notable Ethereum-focused DATs.

Combined, the two companies control about $10 billion in Ethereum ETHUSD.

Solana’s SOLUSD DAT ecosystem hits $4 billion

Some commentators stressed that Ethereum ETHUSD is still trading below its highest price levels, which hints at potential upside for the companies.

Cryptocurrency DATs are going mainstream because of their convenience for retail classic investors, including family offices, pension funds, i.e., entities not interested in holding cryptocurrency but seeking the opportunity to benefit from this volatility.

The popularity of Solana SOLUSD treasuries is growing right now. As demonstrated by Capital Markets, over 20 companies added SOL to their balance sheets.

In total, their allocations exceed $4 billion in Solana SOLUSD