td treasury management - TD Cowen Initiates Coverage on Bitcoin Treasury Companies, Frames PBTC Sector as Investable Equity Category
TD Cowen this week initiated equity research coverage on three public Bitcoin treasury companies (PBTCs) and one Ethereum digital asset treasury, publishing proprietary valuation models and KPIs specific to the sector.
The move marks one of the more concrete steps a major bank has taken to build formal research infrastructure around Bitcoin-focused equities.
? KEY STATISTICS
Possession: 55% - 45%
Shots on target: 6 - 3
Pass accuracy: 88% - 82%
Corners: 5 - 2
??? POST-MATCH REACTIONS
"We showed great character," said the winning coach. "The team never gave up."
The losing side rued missed opportunities but vowed to come back stronger.