After rough headwinds since late 2025, digital asset treasuries are now showing signs of relief. 

According to Zach Pandl, head of research at asset manager Grayscale, the sector has crawled out of distress through new strategies. 

The DATs are finding their footing again. They have pulled this off by optimizing capital structures, generating income, and diversifying business models.

How DATs are handling crypto winter

The market segment leader, Strategy, for example, pivoted from convertible bonds to preferred stocks. And Stretch (STRC) emerged as a key capital driver for its Bitcoin buying spree. 

Additionally, it launched a $2.25 billion USD reserve. This would help cover short-term dividend obligations associated with its…