TechFlow news, August 28 — Dr. Xiao Feng, Chairman and CEO of HashKey Group, delivered a keynote speech today at Bitcoin Asia 2025, stating that DAT (Digital Asset Treasury) could be the best method for transferring crypto assets from on-chain to off-chain.
Dr. Xiao Feng elaborated on four core advantages of DAT over ETFs:
First, better liquidity. ETF subscriptions and redemptions take considerable time, whereas DAT enables investors to transfer assets more conveniently and efficiently.
Second, higher price elasticity. DAT has greater market value volatility and features risk isolation, providing institutions with more arbitrage tools.
Third, more rational leverage design. DAT companies offer leveraged financing structures, allowing DATs to generate higher premiums for investors compared to the price appreciation of cryptocurrencies themselves.
Fourth, built-in downside protection mechanism. When the share price falls below the net asset value held by the company, investors gain an opportunity to purchase bitcoin or ETFs at a discount. Such situations where share prices are below net asset value tend to be quickly arbitraged away by the market.
