Institutional DAT inflow surges... Institutional investors' long-term holding strategy amid cryptocurrency price weakness

Source: DecenterKorea Original Title: Despite Cryptocurrency Price Stagnation, Institutional DAT Inflows Increase by Over 90% in Two Months Original Link: https://www.decenter.kr/NewsView/2H1WM95DA0/GZ03

Amidst a bearish trend in cryptocurrency prices, institutional digital asset treasury strategies(Digital Asset Treasuries·DAT) inflows have increased by over 90% in two months.

According to crypto data provider DeFiLlama, as of 4 PM yesterday, the asset inflow into DAT reached its lowest point of the year in October, but has increased for two consecutive months in November and December. The DAT inflow in October was $1.998 billion, the lowest level this year.

However, the inflow trend rebounded in November. The DAT inflow in November was $2.395 billion, about 20% higher than the previous month, and in December it expanded to $3.83 billion. Compared to October, this represents an increase of approximately 92% over two months.

DAT refers to a method where companies or institutions hold cryptocurrencies such as Bitcoin(BTC), Ethereum(ETH), not for short-term trading but as part of their financial strategy. It involves incorporating cryptocurrencies as strategic assets to manage both corporate value and financial structure. As a result, cryptocurrency price fluctuations also impact the stock prices of companies adopting the DAT strategy.

A representative example of Bitcoin DAT strategy is Strategy, whose stock price has fallen 58.63% over the past six months amid recent Bitcoin price weakness. Nevertheless, Strategy continues to buy BTC. This month, it added 10,624 BTC, increasing its holdings to over 670,000. Japanese listed company MetaPlanet also announced plans to acquire an additional 210,000 BTC by 2027. Despite the volatility in cryptocurrency prices, companies are continuously reinforcing their DAT strategies.

Similar trends are also observed in on-chain indicators. According to on-chain analysis firm CoinGlass, the amount of BTC held on exchanges has been decreasing since reaching a high of approximately 2.98 million in April. As of mid-November, it had decreased to about 2.54 million. This represents a net outflow of approximately 430,000 BTC, about 15% below the high. This indicates that cryptocurrency volumes are moving from exchanges to self-custody(Self-custody) addresses. It suggests that the liquidity within exchanges for short-term trading is decreasing, and the demand structure is shifting toward low-turnover, long-term holding.

In a recent report, CoinGlass analyzed that “even though the premium on DAT-related stocks has significantly shrunk, the BTC holdings of listed DAT companies continue to increase without a change in direction.” The report also evaluated that DAT has shifted from a short-term thematic buy to a structure operated under long-term holding assumptions within corporate governance, accounting standards, and disclosure systems. CoinGlass added, “As 2026 approaches, the volatility tests for DAT companies are just beginning.”