DAT executives predict that "consolidation and mergers" will be one of the key themes in 2026.

[DAT Executives Predict "Consolidation and Mergers" Will Be One of the Themes in 2026] According to Mars Finance, on January 2nd, after a historic 2025 that brought digital asset reserve strategies into the spotlight and then experienced volatility at the end of the year, some reserve strategy executives predict that if the regulatory environment continues to improve, 2026 will see industry consolidation, asset diversification, and deeper institutional participation. "Consolidation and mergers will be one of the themes of 2026," said Tyler Evans. "The market will have a clearer judgment on the winners." Evans is the Chief Investment Officer of KindlyMD, a Nasdaq-listed Bitcoin reserve company that transformed into a digital asset reserve after merging with Nakamoto Holding Company last August. Hyunsu Jung, CEO of Hyperion DeFi, a Hyperliquid reserve, also believes that market consolidation is imminent, pointing out that increasingly stringent investors will examine digital asset reserves from a new perspective. "The market will continue to examine the core value of digital asset reserves, which should ultimately depend on how they directly promote the development of their ecosystem by generating revenue," Jung said. Rudick, Chief Strategy Officer of Upexi, which holds over $250 million in SOL assets, said that digital asset reserves may experiment with value creation through yield generation, new revenue streams, and selective mergers and acquisitions, but he doesn't foresee large-scale consolidation. "I don't think there will be a lot of mergers and acquisitions among digital asset reserves because sellers lack the incentive to sell at less than 1x mNAV—they can sell their assets on the market at market price, and buyers have no reason to acquire digital asset reserves at more than 1x mNAV because they can buy those assets directly on the market. But given that many digital asset reserves are trading at a significant discount, I wouldn't be surprised to see activist funds getting involved in such companies in 2026."