Wall Street's rush for Ethereum is like stocking up on cabbage during supermarket discounts. Big players like BlackRock and Fidelity are working overtime, revising documents to get the ETH spot ETF approved. Grayscale's ETHE fund is even more dramatic, with premiums soaring to 20% in a week, making it more exciting than Tesla's stock sell-off!
Why is everyone so focused on ETH? Three solid reasons explain it:
First, the technical upgrade is incredibly appealing. After Ethereum's "Shanghai upgrade," transfer speeds have skyrocketed, transaction fees have been cut in half, and even the Big Four accounting firms like EY are jumping in for on-chain audits;
Second, the supply is decreasing as more ETH is being burned each year than is being mined, resulting in a deflation rate of -1.2%, making it the "digital gold" of the crypto world;
Third, regulatory signals are loosening. The new SEC chair hinted, "ETH might not be classified as a security," who wouldn't be tempted by that?
Will it rise in the future? The likely scenario is this:
In the short term, it depends on whether the ETF can be successfully launched in September. If it happens, reaching $6,000 from $4,400 is not just a dream;
In the medium to long term, it will depend on how much real money institutions are willing to invest. If they can capture 60% of the Bitcoin ETF's funding, it will take off;
But we also need to watch out for black swan events—if the U.S. suddenly moves to crack down on stablecoins, it could lead to a sudden crash, so we need to stay alert.
