In May 2026, the volume of funds raised by companies managing digital assets on balance (DAT) fell to $180.5 million, which was the minimum figure since October 2024. The 95% drop compared to April signals the end of the era of passive cryptocurrency accumulation by corporate entities.

According to DefiLlama, 98% of the May volume ($177.85 million) went to Bitcoin-oriented companies (compared to $3.88 billion in April and $4.28 billion in March), while for other assets only minimal inflows into Zcash and Sui and outflows from Litecoin of $1.89 million are recorded. The May score was about 93% below the January-May average.

Galaxy analysts attribute this trend to the decline in DAT-firm equity premiums as a result of the 2025-2026 adjustment, which meant that investors were no longer overpaying for easy access to cryptocurrencies through the stock market, especially after the launch of spot ETFs. The crisis of the old model is supported by data from Everstake: despite the fact that Stackings accounted for about 60% of revenue in the reporting companies, their aggregate net losses reached $1.41 billion, and at the beginning of the year, corporate Ethereum holders were faced with billions of "paper" losses altogether.

In response to market challenges, the concept of "DAT 2.0" is being formed, which implies a shift to active methods of monetization of balance via Staking and MEV, DeFi strategies, basic trading and mergers. Nakamoto’s takeover of BTC Inc.’s media holding and UTXO Management to diversify revenue was a case in point. Experts emphasize that the continued viability of cryptocurrency will depend solely on the efficiency of asset management and integration of working businesses, rather than simply holding coins.