Ethereum Gains Momentum as Institutions Warm Up to Real-World Asset Narrative

Ethereum has long struggled to match Bitcoin’s mainstream momentum. While U.S. spot Bitcoin ETFs helped BTC soar to $118,000, ETH has barely budged since the approval of its own ETFs, still hovering around $3,400 — the same level as in February 2024.

Several factors have held Ethereum back. It's less user-friendly and more expensive than competitors like Solana. Its value is split between ETH and layer 2 tokens such as ARB and OP. And despite attempts to brand ETH as “ultrasound money” or “digital oil,” Ethereum still lacks the clear narrative that made Bitcoin “digital gold.”

However, momentum may finally be shifting. Companies like SharpLink and BitMine are taking a page from Michael Saylor’s playbook by accumulating ETH as a treasury asset. This, along with growing institutional interest and an improved ecosystem narrative, has helped spark a rally — ETH is up 5.5% in 24 hours, 23% in a week, and 135% since its April low. The ETH/BTC ratio is also rebounding, and Ethereum ETFs just posted a record $726 million in net inflows.

According to Bitwise’s Steve Berryman, Ethereum’s roadmap is becoming clearer, institutional adoption is rising, and the real-world asset (RWA) narrative is gaining traction. Strategic advisor Tim Lowe adds that Ethereum could benefit most from U.S. crypto regulation, especially a potential stablecoin bill, since over half of stablecoins are issued on Ethereum.

Lowe argues ETH’s value will rise in tandem with assets secured on its network. As Ethereum becomes the go-to platform for stablecoins and RWAs, its token price could rise accordingly — not by branding itself with a slogan, but by securing trillions in value on-chain.