Satsuma Sells Final 669 BTC, Delists Sept 14 in First DAT Wind-Down

This is the first visible wind-down of a listed bitcoin treasury vehicle, and the mechanism matters more than the sale itself: shareholder approval and High Court sanction delivered a defined cash return rather than an open-ended liquidation. It signals that UK-listed digital asset treasury structures can be unwound through ordinary corporate process when the vehicle's rationale fades, which may inform how other such vehicles are judged. The open question is whether this becomes a template or a one-off, and whether the capital-return route proves cleaner than secondary-market exits.