🚨 Are Crypto ETFs the “Death Knell” for Crypto-Treasury Firms?

The rise of spot crypto ETFs and now Ethereum staking ETFs may be reshaping the landscape for companies holding digital assets on their balance sheets.

According to a recent Wall Street Journal report, regulators (SEC & FINRA) are closely reviewing unusual trading activity in shares of firms that have adopted cryptocurrency as a core part of their corporate strategy — such as MSTR, MTPLF, BMNR, SBET.

Former SEC enforcement lawyer David Chase notes that FINRA letters often mark “the first step” in insider trading investigations.

Meanwhile, ETF expert Nate Geraci says the SEC’s new generic listing standards could signal the end of “Digital Asset Treasury” (DAT) firms — companies that have benefited from regulatory arbitrage by holding BTC, ETH, or SOL. He warns that the approval of staking within ETFs makes their model even less compelling:

“Pretty much game over.”

Takeaway for investors: The momentum is shifting toward spot crypto ETFs and the underlying assets themselves, rather than shares of firms using crypto as a treasury strategy.

#CryptoETFs #Bitcoin #Ethereum #DigitalAssets #Blockchain

https://coingape.com/expert-says-crypto-etf-could-be-death-knell-for-treasury-firms-mstr-mtplf-bmnr-sbet/?utm_source=coingape&utm_medium=linkedin