Bernstein: Ethereum leading shift from speculation to financial innovation

Bernstein analysts say the current crypto cycle is moving beyond Bitcoin's "store of value" role toward blockchain-based financial innovation, with Ethereum at the center, according to The Block. They highlight rising interest in stablecoins and tokenization—use cases native to ETH—and note that recent ETH ETF inflows reflect growing institutional attention. While Bitcoin ETFs have gained $120 billion in AUM, Ethereum's inflows are just beginning, suggesting a shift in investor focus. Analysts argue that Ethereum’s utility as a financial infrastructure platform makes it increasingly valuable as the market matures.