2026-01-14 12:29:36

A striking pattern just caught my attention: ETH treasuries—particularly those DATs (decentralized autonomous treasuries)—are currently holding significantly more ETH than all the ETH ETFs combined.

Think about that for a moment. These on-chain institutional holdings dwarf the traditional finance entry point. The accumulation strategy at the protocol and treasury level is moving faster than the ETF inflow narrative suggests.

The real question becomes: how does this shift play out by year-end? If ETF adoption continues accelerating while treasury concentrations remain elevated, we could see a fascinating power dynamic emerge. Will institutional ETF flows eventually overtake DAO treasury positions, or do we see even more protocol-level consolidation?

Either way, this tells a different story about where ETH value is actually being locked up right now.

ETH4,49%

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LiquidatedThrice

· 5h ago

DAO treasury accumulation surpasses ETFs... This logic is a bit reversed, right? Traditional finance institutions are also quietly bottom-fishing. Blinded by ETF money, the silent on-chain holdings are the real killer move. See the true colors at the end of the year—either ETFs will explode or DAOs will continue to eat the pie. That's my entire bet. Why does this set of arguments feel so different from the tone at the beginning of the year... Everyone's flipping their stance. So basically, it's still about grabbing chips. Nothing new.

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gas_fee_trauma

· 5h ago

Haha, does the DAO treasury have more ETH than ETFs? That doesn't seem right... feels like the data needs to be verified again. Is the DAO aggressively bottom-fishing? Traditional finance hasn't even reacted yet. Honestly, nothing beats self-custody; these are all just virtual. The high concentration of the treasury actually makes me a bit nervous... what if the protocol encounters issues? Wait, let me do some calculations. Can ETFs turn things around before the end of the year? Probably not. No matter how many institutions enter, it still depends on how the on-chain players play. The scariest thing is if DAT and ETFs crash together—that would be interesting. This kind of comparison isn't really useful; it's just big players gambling against each other. Thinking about it carefully, it's terrifying—so that's where the value is... I was wrong before.

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TokenomicsPolice

· 5h ago

DAO Treasury has eaten so much ETH but still not enough? We really need traditional finance to come to the rescue haha --- This logic is a bit convoluted... Does accumulating tokens at the protocol layer really push prices more than ETF inflows? --- Wait, if the DAO holds so many chips and all of them dump at once, wouldn't it be game over? --- So in the end, it's still a power game. Whoever holds more has the final say. --- On-chain accumulation vs. traditional entry, I love this analogy—like two forces vying for dominance. --- See the outcome at the end of the year. I bet ETFs will still crush the DAO treasury. --- No way, with so many tokens in the DAO's hands, why not dump? Do they just love holding onto them? --- Looking at this trend, it seems the real value is on the protocol side; ETFs are just the bagholders. --- Where is this data from... Any links? Feels so mysterious.

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ContractHunter

· 6h ago

Is the ETH in the DAO treasury more than all the ETFs combined? That logic is backwards. On-chain institutions have been accumulating for a while, while traditional finance is just getting on board. What story are they telling... Honestly, if ETFs keep dumping at the end of the year, will they push DAO's chips to the floor? DAOs have seen through this long ago, quietly accumulating, waiting for the right moment. The real power game is just beginning.

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