The digital asset treasury (DAT) model is expanding from BTC and ETH to include BNB and SOL, highlighting a regional investment divide. BNB reserves are primarily driven by Asian capital and ecosystems, utilizing public companies, private equity, and PIPE deals to accelerate reserve accumulation. This has led to the formation of several treasury companies centered around BNB. In contrast, SOL reserves are spearheaded by U.S. institutions and Wall Street investment banks, employing mergers, stock issuances, and warrants to transform public companies into Solana treasury platforms. Both camps leverage capital markets for large-scale holdings, but differ in funding sources, compliance paths, and ecosystem focus.