[Cryptocurrency Treasury Companies Face Grim Prospects Before 2026, Majority May Exit the Market] Odaily Planet Daily News – Several industry executives have stated that as market conditions weaken, Digital Asset Treasury (DAT) companies will face severe challenges heading into 2026, with the industry potentially seeing large-scale exits. MoreMarkets Co-founder and CEO Altan Tutar pointed out that a surge of DAT companies emerged in 2025, offering Wall Street investors exposure to crypto assets. However, after the market correction, many companies' stock prices have significantly declined, and the overall outlook has dimmed. Tutar believes that as competition intensifies, most crypto treasury companies will struggle to sustain themselves, particularly those focused on altcoins, which may be the first to exit the market due to their market value failing to remain consistently above the net value of their crypto holdings (mNAV). He also noted that even treasuries built around mainstream assets like Ethereum, Solana, or XRP could face similar pressures later on. Solv Protocol Co-founder Ryan Chow added that the number of publicly listed or quasi-listed companies holding Bitcoin surged in 2025, but "simply holding Bitcoin is not a sustainable growth model." Companies lacking yield management capabilities may struggle to survive the next downturn. He emphasized that treasury companies capable of enduring often view crypto assets as digital capital that can generate yield and liquidity, rather than merely as a store of value. Additionally, First Digital CEO Vincent Chok stated that crypto ETFs are becoming significant competitors to DATs, as they offer investors more compliant and transparent price exposure. He believes that for the crypto treasury model to continue developing, it needs deeper integration with traditional financial infrastructure, approaching ETF standards in compliance, auditing, and asset management. (Cointelegraph)