The passage of the Genius Act, BlackRock's application for an ETH staking ETF (ETHA), and Trump's signing of an executive order to include Crypto in the 401K plan have all kinds of benefits that have appeared at one time but 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 around 3475, but 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 if there is a retracement in the future, most of the players who will be killed may be currency stock players, which needs special attention ⚠️
The volume of ETH ETF inflows this week was 672,000 ETH ($22M)
The new ETH added to the Ethereum network is 11,572 ETH (US$4,100)
In addition, there are already two institutions that have successfully changed banks
The first is Bitmine, led by Tom Lee, with a current position $ETH of 300.7K, worth $11 billion, with a 30-day increase of 84%
The second place is Sharplink Gaming, chaired by Joseph Lubin @ethereumJoseph, with a current position of 280.6K, worth $10 billion, with a 30-day increase of 59%
Currently, the Ethereum Foundation ranks third, with a position of about $8.8 billion
Seventh place is Bit Digital, which has the largest increase, with a current position of 100.6K $ETH, worth $3.67 billion, with a 30-day increase of 264%
The eleventh place, and the common ETH reserve company BTCS Inc., holds a position of 31.9K $ETH, worth $1.36 million, a 30-day increase of 135%
Several institutions that are increasing their holdings, including DeFi protocols, can pay attention
ETH ETFs have seen net inflows of over $2 billion in the past seven days. This kind of scramble has not been seen before.
There are two reasons why Wall Street institutions/new institutions are vying for ETH:
First, BTC is not cheap now, and becoming another micro-strategy is not very cost-effective. Of course, this is a secondary reason.
Second, and more importantly, institutions see a new paradigm that is different from Bitcoin. BTC is digital gold, and its leading position is unshakable. If you create another digital gold, it doesn't mean much. Ethereum is a new paradigm that can carry new finance, including stablecoins, asset tokenization, new payments in the future, and the expansion of US dollar hegemony, on this basis to generate on-chain transactions, including lending, trading, derivatives, etc.
Not only US dollars, US bonds, US stocks and other assets are on the chain, but physical gold, collectibles, real estate, etc. can also be put on the chain after the ecology matures in the future, and even BTC is also on the chain on Ethereum (currently more than $20 billion has been on the chain). Institutions need a new financial infrastructure that can carry tens of trillions/trillions of dollars. If you were an institution, how would you choose? Ethereum has naturally become a bet for institutions to bet on new finance for the future. This also understands why some institutions are now vying for ETH.
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