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

Odaily Planet News Bernstein analysts believe Ethereum is at a critical turning point as the crypto industry shifts from speculation to genuine financial innovation. While Bitcoin ETFs have achieved massive success in the United States, with assets under management exceeding $120 billion, Ethereum ETFs remain relatively small at $9 billion. Analyst Gautam Chhugani points out that Ethereum's value lies in its position as a decentralized computer, supporting key applications such as stablecoins and asset tokenization. In the past 20 days, Ethereum ETF inflows have reached $815 million, with net inflows turning positive year-to-date at $658 million. Payment giants like Visa, Mastercard, and Stripe are developing stablecoin strategies, while crypto companies such as Coinbase and Robinhood are driving blockchain financial applications. Bernstein predicts Bitcoin could reach $200,000 in this cycle but emphasizes that Ethereum and other foundational blockchain assets are transforming from "useless retail speculation" to "useful financial innovation". (The Block)