According to BlockBeats, on July 21, The Block reported that Bernstein analysts pointed out in a report that Ethereum (ETH) will "continue to receive strong investment attention," due to the expectation that financial market interest in stablecoins and asset tokenization will continue to rise. They also anticipate that the influence of asset management firms like BlackRock will drive the allocation of ETH in institutional portfolios, and that banks and fintech companies will also purchase ETH for transaction fees on the Ethereum network.
Bernstein analysts stated, "Last Friday, the U.S. President signed the (GENIUS Act), making stablecoins officially legal digital cash in the United States. Given Ethereum's role as the primary underlying channel for stablecoins, its moment of glory has finally arrived — ETH has risen about 45% in the past two weeks."
The analyst added, "This is not a typical cryptocurrency 'boom-bust' cycle, but the beginning of a blockchain financial services cycle."
