Bernstein: Ethereum's recent rise is more a reflection of the blockchain financial services cycle

Analysts from Wall Street brokerage Bernstein have stated that Ethereum is receiving strong attention from institutional investors, and it is expected that asset management companies such as BlackRock will drive the allocation of ETH in institutional investment portfolios, while banks and fintech companies will also purchase ETH to pay transaction fees. Last week, the net inflow of spot Ethereum ETFs reached a historic high of $727 million per day. Analysts believe that this uptrend is more a manifestation of the blockchain financial services cycle, rather than the traditional cryptocurrency bull bear cycle.