The reason why I think ETH is really really interesting as a treasury asset and potentially a better treasury asset is really for very simple fundamental reasons. It's productive. You can stake it easily earn 3% and that staked ETH is revenue in a public company.Public companies trade on forward valuations. Fundamentally, it's a productive asset. There was actually an article in one of the leading papers in the UK that said over my dead body would we do anything else.I don't believe in the pound. I don't be ...

Core Insights - Ether (ETH) is increasingly recognized as a treasury asset, with digital asset treasuries (DATs) moving beyond a bitcoin-centric focus to allocate significant resources to ether, creating structural demand that surpasses net new supply [1][2] - The demand for ether is bolstered by real yield from transaction fees and maximal extractable value (MEV), enhancing its scarcity narrative [2] - Ether is evolving into a programmable treasury asset that connects corporate finance with on-chain economics, moving beyond its role as a hedge or speculative investment [3] Demand Dynamics - The largest five treasuries exhibit a variety of strategies, including corporate accumulation, staking, and foundations divesting ether to support ecosystem development, showcasing ether's dual role as a reserve asset and a yield-bearing instrument [2] - BitMine Immersion Technologies (BMNR) has acquired over 2% of ether's supply and raised $365 million to expand its holdings, indicating significant institutional interest [3] Future Outlook - The landscape of digital asset treasuries is expected to consolidate, with "mega whale" and "whale" DATs leading the market flows [3]

Solana Adoption - Public companies are quietly turning Solana into a treasury asset and earning yield [1] - Approximately 1% of the total SOL supply is held by public companies [2] - Over 1,000 SOL are held in the treasuries of each of the tracked entities [2] Entity Tracking - Eight entities are currently being tracked [2] - The tracked entities span multiple sectors, including mining and pharmaceuticals [2]

Company Strategy - MEI Pharma purchased $100 million in Litecoin (LTC) as a treasury asset [1][2] - MEI Pharma is the first U_S_-listed company to adopt Litecoin as a primary treasury asset [2] - MEI Pharma funded the purchase via a $100 million private placement led by Charlie Lee [2] - MEI Pharma may expand into LTC mining [2] - MEI Pharma continues drug development while pioneering a crypto treasury strategy [2] Litecoin Adoption - MEI Pharma cites LTC's 13-year uptime, low fees, fast settlement, and mainstream integrations as reasons for adoption [2] Investment - Charlie Lee and GSR are lead investors in the private placement [1]