TechFlame news, on August 28, Dr. Xiao Feng, Chairman and CEO of HashKey Group, said in a keynote address at Bitcoin Asia 2025 today that DAT (Digital Asset Vault) may be the best way to transfer crypto assets from on-chain to off-chain.

Dr. Xiao Feng detailed the four core advantages of DAT over ETFs: First

, better liquidity. ETF redemptions take a lot of time, and DAT helps investors transfer assets more easily and efficiently.

Second, price flexibility is higher. DAT's market value fluctuates greatly and has risk isolation properties, which can provide institutions with more arbitrage tools.

Third, the leverage ratio design is more reasonable. DAT provides a leveraged financing structure. Compared to the increase in the price of cryptocurrencies themselves, DAT can bring

investors a higher premium.

Fourth, DAT comes with its own fall protection mechanism. When the stock price falls more than the net asset value of the company, investors get the chance to buy Bitcoin or ETF at a discount. However, this situation where the stock price

is lower than the net asset value will quickly be leveled off by the market.