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Digital asset treasurers are quickly evolving beyond being “static voids” for well-known cryptocurrencies and instead are looking to offer real-world tokenized assets, stablecoins and other yield-generating assets, according to crypto executives.
“The next phase of the Web3 treasury is to turn balance sheets into active networks that can stake, restake, lend, or tokenize capital under transparent and verifiable conditions,” said Maja Vujinovic, CEO of Ether.ETH) treasury company FG Nexus.
“The lines between a treasury and a protocol budget are already blurred, and companies that treat treasuries as productive, on-chain ecosystems will be the ones to overcome.”
The number of crypto treasures has exploded this year, with an October report from asset manager Tracking Bitwise 48 new cases of Bitcoin (BTC) will be added to the budgets in the third quarter.
Sandro Gonzalez, the co-founder of the Cardano-based KWARXS project, which connects the real world. solar infrastructure to the blockchainsaid that DATs are moving from speculative storage to strategic allocation.
“The next wave of adoption will include assets that link blockchain participation to tangible production – such as renewable energy, supply chain assets, or carbon reduction mechanisms,” said Gonzalez.
“Over time, this will redefine how organizations think about budgets in the Web3 era – not just as stores of value, but as tools for a measurable and sustainable contribution to real economic activity,” he added.
Treasury companies are expanding past cryptocurrencies
Brian Huang, the CEO of the crypto investment platform Glider, said that the decision of what can be adopted as a treasury asset is only limited by what is onchain.
“On-chain shares and tokenized RWAs are the most obvious things to include in a treasury. Gold has taken off this year, and it’s easier to hold tokenized gold than physical gold,” he said.
“In addition, there are illiquid investments, such as NFT and tokenized real estate. The thing to emphasize here is that the limitation is only what assets are in the chain.”
John Hallahan, director of business solutions at digital asset custody platform Fireblocks, predicted that there will be more adoption of stablecoinstokenized money market funds and tokenized US Treasurys.
“The next wave of digital assets adopted for treasury purposes will be cash-equivalent instruments such as stablecoins and tokenized money market funds,” he said.
“In the longer term, we see many more types of securities issued on chain, such as treasuries, corporate debt and physical assets such as real estate. For more unique assets, such as real estate, they can be represented by non-fungible tokens.”
Digital media and entertainment company GameSquare Holdings announced in July that he had bought an NFT of a Cowboy Ape in a “strategic investment” of $5.15 million, with Ether.
Nicolai Søndergaard, a research analyst at the onchain analytics platform Nansen, said that the decisions around which assets are adopted in the future will likely be. dictated by legislation and business risk appetite.
“While I can’t say with certainty, I don’t think it will be unexpected that we will see companies adding treasury assets not previously considered possible as treasury assets,” he said.
Factors that affect what assets will be adopted
However, Marcin Kazmierczak, the co-founder of blockchain oracle provider RedStone, said. any tokenized asset can theoretically be held as a treasury reserve asset; what will eventually be adopted comes down to accounting, regulation and fiduciary duty.
“A holding of Bitcoin or Ethereum is simple for auditors and boards. An NFT requires a valuation methodology that most of the frameworks do not have standardized answers. More importantly, the treasurers are supposed to keep assets that maintain value and can be liquidated if necessary.”
“It is easier with Bitcoin than with a speculative NFT that could have limited buyers. The limit exists to the point where liquidity dries up and the court cannot justify holding it to shareholders or regulators,” he added.
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In the long term, Kazmierczak predicts that beyond the top five cryptocurrencies, adoption will likely remain marginal for traditional businesses because the risk-adjusted returns are not enough to justify the move for most boards.
“We can see tokenized real assets gaining traction if the legal frameworks clarify, but pure Web3 assets beyond the main cryptocurrencies will remain experimental and limited to crypto-native companies or venture firms positioned specifically for that risk,” he said.
“What could accelerate are real-world tokenized assets such as yield bonds or commodities. Those that have inherent value propositions that do not depend on market sentiment.”
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