As retail investors, all we can really ask for is transparency.
If $ETH holdings are growing but $ETH concentration is falling, you end up with a dilutive effect vs accretive.
$SBET has been fully transparent since the beginning, going above and beyond just ETH concentration.
That’s why they are the #1 DAT imo and the ticker is $SBET.

Comparing ETH Treasuries is a mess.
Let’s fix it with a simple transparency framework:
1️⃣ ETH concentration (ETH / 1,000 FD shares)
2️⃣ Cash on hand
3️⃣ Total Debt
Standardize this, and investors win.
Happy to update SΞR to incorporate those data.

fabda.eth

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