# Bitcoin DATs Face Extinction: Satsuma and Smarter Web Announce Asset Sales Two major UK Bitcoin investment firms are winding down their operations. - **Source:** [INCRYPTED](https://brifing.si/source/7cd4625d-3f08-4cc1-983d-4c7d991839ba) - **Published:** 2026-07-23 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/e8737341-22bc-40a8-81b6-30a5bfd1174c ## The End of Bitcoin DATs Satsuma and Smarter Web, two of the UK's largest public Bitcoin investment firms, have decided to sell assets and cease operations. This development raises questions about the future of Bitcoin-specific investment vehicles. Satsuma's complete shutdown decision reveals the scale of challenges in the sector. ## Satsuma's Wind-Down Process Peaking at 1,153 BTC, Satsuma has decided to sell all its Bitcoin holdings under shareholder pressure. The company initiated delisting from the London Stock Exchange. The liquidation of the portfolio built with funds from investors like ParaFi Capital and Pantera Capital has sent shockwaves through the industry. ## Smarter Web's Strategic Shift With a 2,878 BTC portfolio, Smarter Web sold 177.89 BTC to meet obligations. The company terminated its Smart Convert agreement with TABAM, closing the deal at a loss due to declining Bitcoin prices. This move signals a fundamental change in the firm's investment strategy. ## The Dominant Player: Strategy The Bitcoin DAT sector has become heavily dependent on Strategy's moves. The company alone accounts for 69% of all Bitcoin purchases in the sector, overshadowing other players. Strategy's sales decisions impacting the entire market reveal the fragile structure of the industry. ## Sector Growth and Risks The amount of Bitcoin controlled by DATs increased by 356,295 BTC in the past year. However, most of this growth comes from Strategy's aggressive purchases. Business models copied from Strategy by other companies became unsustainable when market conditions changed. ## Future of Bitcoin Investment Vehicles Decisions by Satsuma and Smarter Web send important signals about the future of Bitcoin-specific investment tools. The market's heavy dependence on a single player creates significant risks for investors. These developments highlight the challenges in the maturation process of crypto investment vehicles. ## Sources covering this story - https://incrypted.com/bytkoyn-dats-vymyrajut-satsuma-y-smarter-web-objavyly-o-prodazhe-aktyvov/ — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._