The ironic thing about DATs is that they weren’t supposed to exist Saylor saw an opportunity with Microstrategy because the US kept pushing off ETF approval Turns out DATs are much better vehicles for attracting fresh capital and allowing new lorebuilders to step up.
There’s a simple reason why DATs are much better at pumping bags and that’s because of incentives DATs are an aggressive proxy of the digital asset. Their success is tied to whether the asset does well or not. ETFs on the other hand are merely collecting fees. Not the same fire
In addition, DATs allow for anyone with a brokerage account to have exposure to crypto. True account abstraction. Honestly it’s trippy seeing how much further the dichotomy is becoming between new TradFi entering with DAT exposure vs. Retail entering the memecoin trenches.
It’s funny how hindsight works. The BTC ETF has been a North Star for YEARS with peeps bolstering how Valhalla awaited after approval. Who knows if DATs would exist if the ETF were approved. There’s much more to say about DATs, but I’ll save those thoughts for another time 🫡
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