Bernstein: Ethereum is at a critical turning point from speculation to real financial innovation

Odaily Planet Daily News Bernstein analysts believe that Ethereum is at a critical turning point as the crypto industry shifts from speculation to real financial innovation. While Bitcoin ETFs have been a huge success in the United States, with assets under management exceeding $120 billion, Ethereum ETFs are relatively small, with only $9 billion. Analyst Gautam Chhugani pointed out that the value of Ethereum lies in its status as a decentralized computer, supporting key applications such as stablecoins and asset tokenization. In the past 20 days, Ethereum ETFs have received inflows of $815 million, and net inflows have turned positive since the beginning of the year, reaching $658 million. Payment giants such as Visa, Mastercard and Stripe are developing stablecoin strategies, while crypto companies such as Coinbase and Robinhood are also promoting the development of blockchain financial applications. Bernstein predicts that Bitcoin is expected to reach $200,000 in this cycle, but emphasizes that basic blockchain assets such as Ethereum are transforming from "useless retail speculation" to "useful financial innovation." (The Block)