Bitwise CEO: Most digital asset finance companies may eventually transform into operational companies.

Bitwise CEO Hunter Horsley stated in an article on X that, given factors such as insufficient liquidity, costs, and risks, most digital asset finance companies (DATs) will trade at a discount, while only exceptional companies that can increase the value per share of crypto assets will trade at a premium. Most DATs will eventually transform into operating companies—in which case they will likely acquire and integrate some of the many small crypto companies that are currently still privately held. Digital asset management companies are still in the early stages of their future development.