ETHZilla has sold $40 million worth of Ethereum to fund the repurchase of 600,000 shares as part of its $250 million buyback initiative. This move comes amid concerns about potential early-stage unwinding in the digital asset treasury (DAT) sector. Following the sale, ETHZilla's market net asset value (mNAV) stood at 0.62, with its shares rising by 5.42%. Meanwhile, Sequans has transferred nearly 1,000 Bitcoin to a Coinbase Prime address, according to on-chain data. This transaction has similarly boosted Sequans' shares by 4.68%, with its mNAV recorded at 0.74. These developments occur against a backdrop of warnings from Galaxy Digital about structural vulnerabilities within the DAT sector.