Bitwise Executive: Treasury Companies Solve Ethereum's Narrative Crisis

On July 31st, as reported by Cointelegraph, Matt Hougan, the Chief Investment Officer of Bitwise, stated that the Ethereum Treasury Company and Staking Company have addressed Ethereum's "narrative problem" by packaging this digital asset in a manner that is more comprehensible to traditional investors, thereby attracting more capital and expediting its adoption. Hougan pointed out in an interview that Ethereum has always had difficulty clearly defining its revenue model for traditional financial investors until its native token Ether (ETH) was packaged within a structure similar to a "stock shell". He explained, "From a valuation perspective, ETH has encountered a problem in recent years. That is, on Wall Street, there is no clear answer as to why it is valuable. Is it a store of value? Is it the scarcity brought about by a burning mechanism? Is it a source of income? Or is it staking rewards? No one can be certain. However, if you take $1 billion worth of ETH and place it into a company and use it for staking, it will immediately begin to generate returns. And investors are very familiar with companies that can generate returns."