Digital asset treasury companies (DATs) are public companies that hold Bitcoin, Ethereum, or other crypto on their balance sheet as a core strategy. This dashboard tracks each treasury’s holdings, market value, and mNAV, the premium or discount the stock trades at versus the crypto it holds.
mNAV is the ratio of a company’s market value to the value of the crypto it holds. Above 1 means the stock trades at a premium to its treasury, below 1 means a discount.
Treasury companies give equity investors crypto exposure through a regular stock, and can grow crypto per share by issuing shares at a premium and buying more. The strategy started with Bitcoin and has expanded to Ethereum, Solana, and other assets.
