Most Crypto Treasuries ‘will Disappear’ Amid Bleak 2026 Outlook: Execs

Many crypto and Bitcoin treasury companies may go under in 2026 as the model comes under pressure, industry executives tell Cointelegraph.

Digital asset treasury (DAT) companies face a grim future heading into 2026, with shares in many of the largest players sharply down, industry executives say.

“Going into the next year, I think that the outlook for DATs is looking a bit bleak,” Altan Tutar, co-founder and CEO of crypto yield platform MoreMarkets, told Cointelegraph.

Large numbers of crypto treasury companies emerged in 2025 to give Wall Street investors another avenue to access cryptocurrencies. The share prices of many initially shot up as heavyweight investors poured in billions as Bitcoin (BTC) rose to a peak in October, but a broad crypto market decline has since hurt their valuations.

With the market increasingly crowded, Tutar predicted the herd will thin out dramatically.

“Most Bitcoin treasury companies will disappear with the rest of the DATs,” he predicted.

Tutar said crypto treasuries focused on altcoins “will be the first to go” as they won’t be able to sustain their company’s market value above the value of their crypto holdings, a key metric to investors called mNAV.

“I suspect that the flagship DATs for large assets like Ethereum, Solana, and XRP will follow that way pretty quickly too,” he said.

However, Tutar said the crypto-buying companies most likely to win are those providing additional value besides their large stash, such as offering products that “provide strong, consistent returns on their holdings, and pass them on to stakeholders.”

Ryan Chow, the co-founder of the Bitcoin platform Solv Protocol, told Cointelegraph that the number of companies buying and holding Bitcoin grew from 70 at the start of 2025 to over 130 by the middle of the year.

Source: CoinTelegraph