ETHZilla: Ethereum’s Monster Treasury Company | McAndrew Rudisill & Avichal Garg

ETH Treasuries & Market Dynamics - ETHZilla aims to establish ETH as a primary reserve asset, similar to Wall Street's standards [1] - The rise of ETH treasuries is fueled by new debt instruments and market appetite [1] - Stablecoins, DeFi, and ETH create a flywheel effect, enhancing ETH's value as high-quality collateral [1] - Discussions include the potential for a DeFi after-boom and ETHZilla's definition of "winning" [1] Risk Management & Operational Security - Leverage, rehypothecation, and risk controls are key considerations for ETH treasuries [1] - Operational security and mNAV premiums are important aspects of managing ETH treasuries [1] Investment & Accumulation Strategies - Credit markets (converts, preferreds, and debt) play a significant role in supercharging ETH accumulation [1] - Electric Capital manages deployment based on time vs price buy rules [1] Comparative Analysis - The report contrasts ETH treasuries with BTC treasuries, focusing on yield surface [1] - ETH treasuries are compared to Berkshire Hathaway, highlighting business math and long-term value [1]