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According to ChainCatcher, citing The Block, Geoffrey Kendrick, Head of Digital Asset Research at Standard Chartered Bank, stated that with the rise of Digital Asset Reserve Companies (DAT), Ethereum or Bitcoin and Solana stand to benefit more. In his report, he pointed out that the recent decline in the market net asset value (mNAV) of DAT will force companies to differentiate and may drive consolidation among Bitcoin reserve companies. In contrast, Ethereum and Solana reserve companies may have higher mNAV due to their ability to generate staking yields, and Ethereum reserve companies are more mature with more pronounced advantages. Currently, DATs hold 4% of Bitcoin, 3.1% of Ethereum, and 0.8% of Solana, and the scale of their holdings has a significant impact on token prices. Kendrick believes that market saturation is the main reason for valuation compression, but DATs still have "selective investment value" as they provide a way for restricted regions to access digital assets. In the future, fundraising ability, company size, and staking yields will be key factors differentiating DAT performance. He added that if some DATs remain below asset value for a long time, it could trigger consolidation, and strategic acquisitions may be more cost-effective than directly buying tokens. Overall, DATs will drive Ethereum to outperform Bitcoin and Solana.

ChainCatcher news, according to The Block, the venture capital arm of Japanese financial giant Credit Saison will launch a blockchain investment fund called Onigiri Capital. The fund has a scale of $50 million, aiming to build an institutional-level bridge between U.S. innovation and Asia's mature blockchain and financial networks, helping founders create global financial products. According to a spokesperson, Onigiri is backed by Saison Capital and has raised $35 million through "joint investment from Credit Saison and external investors." The fund's maximum limit is $50 million, with the possibility of accepting additional capital. The fund will focus on early-stage startups in the real-world asset sector, covering financial infrastructure such as stablecoins, payments, tokenization, and DeFi, with particular attention to connections with Asia. Credit Saison is a large financial services company based in Tokyo, affiliated with Mizuho Financial Group, and is the third-largest credit card issuer in Japan. It is also involved in multiple business sectors, and its venture capital arm has been investing in cryptocurrency companies since 2023. .