Kyle Reidhead is the Founder of Impact3 and Co-Owner of The Milk Road.
In this episode, we provide a comprehensive guide on ETH treasury companies, publicly traded firms focused on acquiring and staking ETH for their balance sheets, while tapping into DeFi to earn yield. We explore how these firms raise capital to buy more ETH, how staking/DeFi differentiates them from BTC treasury companies, why metrics like mNAV, share count, and ETH purchase-to-issuance ratio matter, and how this new Wall Street phenomenon is driving an outsized bid to buy a shrinking supply of ETH.
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🔗 Essential Show Links 🔗
► Newsletter: https://the-edge.xyz
► Youtube: https://youtube.com/@DeFiDad
► Apple: https://tinyurl.com/edgepod
► Spotify: https://tinyurl.com/edgepodspotify
► Linktree: https://linktr.ee/edge_pod
► Follow DeFi Dad: https://x.com/DeFi_Dad
► Follow Nomatic: https://x.com/Nomaticcap
► Learn DeFi: http://defidad.com/
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Timestamps
0:00 - Intro
6:49 - Kyle, Impact3, and The Milk Road
12:00 - Why Kyle’s team is so long ETH
18:17 - Is it a DAT or ETH treasury company?
19:23 - What is mNAV and how the premium trades
23:54 - How publicly traded companies pivot to ETH DATs
29:11 - Importance of share count
31:26 - Sponsor break
32:36 - How ETH DATs raise money to buy more ETH
39:02 - Staking and DeFi yield for public markets
43:50 - Picking winners among ETH DATs
49:20 - The shift with ETH price leading sentiment
56:21 - ETH purchase / issuance ratio
59:29 - Sponsor break
1:01:05 - Key takeaways from recent talks with Joe Lubin
1:05:17 - BTCS is a standout as an operator
1:11:28 - Ethereum DeFi 2.0 comes next
1:17:20 - Risks
1:27:06 - Recent OTC ETH buy from EF
1:29:52 - When will the market top out?
1:31:03 - Closing
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🔗 Guest Links 🔗
► Strategic ETH Reserve website: https://strategicethreserve.xyz/
► Crypto Treasuries website: https://cryptotreasuries.com/
► Milk Road website: https://milkroad.com/
► Milk Road on X: https://x.com/MilkRoadDaily
► Impact3 website: https://impact3.co/
► Impact3 on X: https://x.com/Impact3Growth
► Kyle on X: https://x.com/kyleReidhead
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All opinions expressed by hosts and podcast guests are solely their own opinions. Podcast guests and hosts may have positions in the assets or other matters discussed in this podcast. Kyle, DeFi Dad, and Nomatic all hold ETH and SBET. Kyle also holds BTCS. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Do your own research. This is not a recommendation or endorsement to buy any token(s) related to any platform(s) discussed.
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