In the future, crypto asset treasuries will no longer be just a "static vault" for well-known cryptocurrencies, but will seek to provide tokenized real-world assets, stablecoins, and other income-generating assets, according to executives in the crypto industry.
FG Nexus CEO Maja Vujinovic, who focuses on Ethereum treasuries, stated, "The next phase of Web3 treasuries is to transform balance sheets into active networks that can be staked, re-staked, lent, or capital tokenized under transparent and auditable conditions."
This year has seen a surge in the number of crypto treasuries. According to a report released by asset management firm Bitwise in October, there were 48 instances of Bitcoin being added to various balance sheets in just the third quarter.
Sandro Gonzalez, co-founder of KWARXS, noted that Decentralized Autonomous Treasuries (DATs) will shift from speculative storage to strategic allocation.
Gonzalez said, "The next wave of adoption will include assets that link blockchain participation to real-world output—such as renewable energy, supply chain assets, or carbon reduction mechanisms."
"As time goes on, this will redefine organizations' understanding of balance sheets in the Web3 era: not just as value storage, but as an important tool for measurable and sustainable contributions to real economic activities," he added.
Brian Huang, CEO of Glider, believes that which assets can be stored in treasuries is only limited by whether they are on-chain.
He stated, "On-chain stocks and tokenized real-world assets (RWAs) are the most obvious categories to include in treasuries. Gold has surged significantly this year, and holding tokenized gold is more convenient than physical gold."
John Hallahan, Director of Business Solutions at digital asset custody platform Fireblocks, predicts that stablecoins, tokenized money market funds, and tokenized U.S. Treasury bonds will gain more adoption in the future.
He said, "The next wave of digital assets used for treasury storage will be cash-equivalent tools like stablecoins and tokenized money market funds."
According to digital media and entertainment company GameSquare Holdings, it announced in July that it made a "strategic investment" of $5.15 million to purchase a Cowboy Ape NFT and acquired Ethereum.
Nicolai Søndergaard, a research analyst at on-chain analytics platform Nansen, pointed out that which assets will be adopted in the future largely depends on legislative progress and corporate risk appetite.
"While I can't be certain, I think it's likely we will see companies adopt new types of assets for treasury storage that they hadn't previously considered, which wouldn't be surprising," Nicolai Søndergaard said.
However, there are also views that blockchain oracle service provider RedStone co-founder Marcin Kazmierczak stated that theoretically, any tokenized asset could serve as treasury storage, but whether it can ultimately be adopted depends on accounting standards, regulatory requirements, and fiduciary responsibilities.
"Bitcoin is much easier in comparison, while speculative NFT buyers are limited. If liquidity dries up, the board cannot reasonably explain to shareholders or regulators why they hold such assets, and that is the limit," Marcin Kazmierczak added.
Kazmierczak expects that, in the long run, it will still be difficult for traditional companies to diversify beyond the top five cryptocurrencies, as risk-adjusted returns are insufficient to persuade most boards to make changes.
He said, "If the legal framework becomes clearer, we might see some tokenized physical assets gain attention, but purely Web3-type assets are likely to remain confined to native crypto companies or venture capital firms that specifically take on that risk for internal experimentation."
Related: Bitcoin (BTC) price rises to an 11-month high of $111,000, but the market remains shrouded in bear market concerns.
Original: “Single-Function” Crypto Treasuries May Face a New Wave of Competitors
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