Crypto Treasuries Face Volatility as Premiums Drop

- NYDIG warns falling premiums signal market turmoil for treasury firms. - Bitcoin holdings hit new peak despite slowing accumulation. According to a September 8, 2025, report from Cointelegraph, an analysis by the New York Digital Investment Group (NYDIG) suggests that narrowing premiums in crypto treasury firms could signal market turmoil. The report notes that several external and internal factors are compressing the gap between the share prices and net asset value (NAV) of these firms. Greg Cipolaro, NYDIG's global head of research, highlighted several investor concerns, including anticipated supply unlocks, shifting priorities among treasury management teams, and profit-taking. He also noted increased share issuance and a lack of differentiation in strategic approaches. Although Bitcoin has reached new highs, the compression of premiums has prompted concerns about broader market impacts. As a result, Cipolaro warned that without strategic interventions, existing shareholders may initiate substantial sell-offs and exacerbate the situation. To address this, Cipolaro proposed that companies whose shares trade below NAV should consider stock buybacks. This approach could reduce supply and boost share prices, mitigating some of the ongoing pressure. Meanwhile, many firms in the Bitcoin treasury sector face delays as they await mergers or financing deals to go public, which intensifies the challenges they face. The report also noted that the total Bitcoin holdings of these treasury firms reached an all-time high of 840,000 BTC. However, the momentum of accumulation has slowed significantly. A separate analysis from CryptoQuant shows that these companies purchased less Bitcoin in August than the monthly average for 2025. In addition, Cipolaro observed that even key institutional players made smaller acquisitions last month, signaling a broader deceleration in both Bitcoin accumulation and monthly growth. According to CoinMarketCap, Bitcoin (BTC) was trading at $112,128.14 as of 13:04 UTC on September 8. This price reflects a 0.91% change over the last 24 hours. Despite the challenges facing the crypto treasury sector, this data underscores Bitcoin’s pricing resilience and hints at its continued strength in the broader market.