X @Messari
Messari·2025-09-05 15:20
"Without buybacks or a major bull market, ETH DATs have no natural catalyst back to NAV." https://t.co/TFyuDTkmTaJake (@immutablejacob):The Arbitrage Trap: Why ETH DATs trade below NAVETH Digital Asset Treasuries (DATs) look like bargains as shares trade at a discount to the $ETH they hold. But the “cheap ETH” view misses the structural risks.Unlike ETFs, DAT shareholders can’t redeem for $ETH. Instead, https://t.co/6SJ13WAKrm ...