Bitwise CIO Matt Hougan: ETFs Are Not the Main Cause of DAT Premium Declines; Bitcoin Bull Market May Restore Them

Bitwise Chief Investment Officer Matt Hougan said market performance, rather than the launch of Bitcoin ETFs, has been the main driver of shrinking premiums for digital asset treasury (DAT) companies. According to Odaily, Hougan said he had previously held a bearish view of DATs, believing most had limited prospects apart from leading companies in a few niche sectors. After reviewing the data, he found that ETFs had not ended DAT premiums as he had expected, and that market performance was a more important factor. Premiums could return if Bitcoin enters a new bull market.