Alt season but Tradfi buys specific coins
$ETH
$ENA
$HYPE
“A sustained 1.0x NAV with consistent inflows is better than no access at all.” I agree with @gdog97_ on this point regarding DATs as a mechanism to access equity capital markets. Crypto remains a niche industry in terms of flows, and DATs are tapping into a much larger distribution channel (equity markets) that clearly wants more ways to gain exposure to crypto in a convenient manner.
The nuance in all of this is how these vehicles are structured, the quality of the teams to execute on it, and the premium to NAV. If you’re not willing to read the fine print, maybe sit this one out in spot.
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