The passage of the Genius Act, BlackRock's application for ETH staking ETF (ETHA), and Trump's signing of an executive order to include Crypto in the 401K plan have ushered in a short-term drawdown
Yesterday was the highest 😂 day of $ETH market sentiment in recent months
It also brought a little retracement, as low as about 3475, in fact, it fell by less than 5%
Spot is not a big problem (although everyone will be afraid of this sentence
But I think that if there is a retracement in the future, most of the people who will be killed may be currency stock players, which needs special attention ⚠️
ETH ETF inflows this week amounted to 672,000 ETH ($2.2 billion)
The Ethereum network added 11,572 ETH ($41 million) of ETH
In addition, there are already two institutions that have successfully changed banks
The first is Bitmine, led by Toom Lee, with a current position of $300.7K, worth $1.1 billion, with a 30-day increase of 84%
In second place is Sharplink Gaming, chaired by Joseph Lubin@ethereumJoseph, with a current position of 280.6K, worth $1 billion, a 30-day increase of 59%
Currently, the Ethereum Foundation ranks third, with a position of about $880 million
In seventh place is Bit Digital, which has the most growth, currently holding 100.6K$ETH, worth $367 million, with a 30-day increase of 264%
The eleventh place, and the common ETH reserve company BTCS Inc., holds 31.9K $ETH, worth $136 million, a 30-day increase of 135%
Several institutions that are increasing their holdings, including DeFi protocols, can pay attention
In the past seven days, net inflows into ETH ETFs exceeded $2 billion. This kind of rush has never been seen before.
Wall Street institutions/new agencies are scrambling for ETH for two reasons:
First, BTC is not cheap right now, and becoming another MicroStrategy is not very cost-effective. Of course, this is a secondary reason.
Second, and more importantly, institutions see Ethereum as a new paradigm that is different from Bitcoin. BTC is digital gold, and its leading position is unshakeable. Creating another digital gold is not very meaningful. Ethereum represents a new paradigm; it can support new finance, including stablecoins, asset tokenization, future new payments, and the expansion of dollar hegemony, which leads to on-chain transactions, including lending, trading, derivatives, and more.
Not only are assets like the dollar, U.S. Treasuries, and U.S. stocks being tokenized on-chain, but in the future, once the ecosystem matures, physical gold, collectibles, real estate, and more can also be tokenized, and even BTC is being tokenized on Ethereum (over $20 billion has already been tokenized). Institutions need a new financial infrastructure that can support tens of trillions/hundreds of trillions of dollars. If you were an institution, how would you choose? Ethereum naturally becomes the target for institutions betting on the future of new finance. This also explains why some institutions are now scrambling for ETH.
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