innovation

Bernstein: Ethereum Reaches a Critical Turning Point, Financial Innovation Transformation Becomes the New Main Line of the Market

ChainCatcher news, according to a report by The Block, Bernstein analysts indicate that the cryptocurrency market is shifting from speculative trading to blockchain-driven financial innovation, with Ethereum becoming the core vehicle of this transformation. Although Bitcoin is still viewed as an important store of value (the institution maintains a target price of $200,000 for this cycle), mainstream attention has extended to innovations in underlying blockchain financial applications.Data shows that the assets under management (AUM) of Bitcoin spot ETFs in the U.S. have surpassed $120 billion within two years, while the AUM of the Ethereum spot ETF launched last July is currently only $9 billion. However, recent fund flows into Ethereum ETFs have significantly rebounded—net inflows of $815 million over the past 20 days, with year-to-date net inflows turning positive at $658 million, reflecting increased institutional interest.Analysts emphasize that Ethereum's positioning as a "decentralized computer" places it at the core of scenarios such as stablecoin issuance and asset tokenization. Payment giants like Visa and Mastercard are actively laying out stablecoin strategies; Coinbase is advancing merchant payment pilots through its Layer 2 network Base, Robinhood is promoting the tokenization of real-world assets, and Kraken plans to launch tokenized U.S. stocks for international users, confirming the acceleration of blockchain financial applications."When real companies and institutional investors innovate on the blockchain, underlying network assets like Ethereum will gain value support," the report states, noting that the gas fees generated from stablecoin transactions have formed substantial value capture. Market perception is undergoing a critical shift: investors are beginning to associate the value of blockchain applications with the value of underlying tokens, driving funds to spread beyond Bitcoin assets.

U.S. SEC Chairman: Will draft rule proposals related to cryptocurrency, unafraid of innovation in the cryptocurrency space

ChainCatcher news, SEC Chairman Paul Atkins stated at the SEC conference, "The crypto market has been in a gray regulatory area of the SEC for years. Initially, the SEC adopted what I call an 'ostrich policy'—perhaps hoping the crypto industry would disappear on its own. Later, the policy shifted to a 'shoot first, ask questions later' enforcement-style regulation. The so-called slogan of 'welcome to chat' often actually means 'welcome to receive a subpoena.' This presents a dilemma for market participants. Such an environment cannot build trust. The underlying message is: 'You guess for yourself.'I have recently instructed the Division of Corporation Finance to maintain transparent communication with the public. When regulators can engage in open dialogue with the industry, market participants can act more flexibly and allocate capital more effectively to productive uses. Today marks a new starting point for the SEC. I have directed the staff in the policy department to begin drafting rule proposals related to cryptocurrencies. Meanwhile, the staff is still 'clearing obstacles' through departmental statements.I hope the Commission allows SEC-registered entities to simultaneously host and trade both securities and non-securities assets on one platform. This will help reduce costs for investors and enable non-securities trading to quickly enter the federal regulatory environment. In response to innovation trends and the progress of the crypto working group, we have requested Congress to reallocate the budget to integrate the SEC's 'Innovation and Financial Technology Strategic Center (FinHub)' functions into other parts of the agency."
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