these companies will be limited by the fact that their mandate as them allocating to only one ecosystem: bitcoin, ethereum, solana, hyperliquid, bsc, etc
looking forward to an onchain vehicle that invests across the entire app layer, the "crypto app company"
End state of Ethereum DATs is competition forcing them to deploy capital onchain.
As this plays out, DATs may become one of the largest new sources of DeFi inflows, channeling institutional money across the capital structure into the onchain economy.
Same goes for other L1s like Solana and Hyperliquid — the latter of which probably has the most creative uses for capital with HIP-3 among other initiatives.
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