$ETH Ethereum has gained nearly 45% over the past two weeks, driven by a confluence of regulatory clarity, increasing institutional demand, and favorable supply dynamics, according to Bernstein analysts.

The GENIUS Act, signed by the U.S. president, has recognized stablecoins as legal digital cash. This change has redirected attention toward Ethereum, the leading blockchain supporting stablecoin transactions.

More than 60% of the total USDC supply is hosted on Ethereum. The platform also hosts approximately 33% of the tokenization market for real-world assets valued at $25 billion, primarily concentrated in tokenized money market funds. The largest of these, BlackRock's (NYSE:BLK) $2.8 billion BUIDL fund, is built on Ethereum.