Ether (ETH) Digital Asset Treasury Companies Outpace Peers as Crypto Tailwinds Build: B. Riley

Investment bank B. Riley reports that crypto markets have risen about 10% since November 20, with ether-linked Digital Asset Treasury Companies (DATCOs) being significant beneficiaries. This performance is attributed to improving risk appetite, spurred by European Central Bank comments suggesting a shift away from the U.S. dollar as the dominant reserve currency, and expectations for interest rate cuts. The median mNAV for tracked DATCOs rose from 0.9x to 1.0x. Performance has favored leverage-like plays, with ETH treasuries gaining about 28% compared to a 7% rise in the Russell 2000 index. B. Riley believes a DATCO rebound depends on crypto market stabilization and companies executing yield-generating initiatives. The analysts remain constructive on BitMine Immersion Technologies (BMNR) and SharpLink Gaming (SBET) due to their staking and restaking strategies.

(Source：CoinDesk)