Thomas Daniels
Ethereum stands at a decisive inflection point, according to Bitfinex analysts, with the token’s valuation remaining relatively modest when compared to Bitcoin. Since their U.S. debut in July 2024, Ethereum-based spot exchange-traded funds (ETFs) have experienced a surge in institutional adoption.
In August alone, inflows grew by 44%, rising from $9.5 billion on August 1 to $13.7 billion by August 28. This increase underscores a renewed appetite among institutions for exposure to Ethereum.
The momentum extends beyond ETFs. A growing number of corporations are allocating Ethereum to their corporate treasuries. Firms now hold approximately 4.4 million ETH, representing 3.7% of total circulating supply, with a current valuation near $19.18 billion. These holdings are considered “sticky” by analysts, meaning they are less likely to be sold, further stabilizing price dynamics.
Supported by both ETF inflows and corporate treasury demand, Ethereum’s price rose nearly 27% during August, climbing from $3,406 to $4,316 by the end of the month.
Industry participants highlight Ethereum’s evolving infrastructure as a key catalyst. Bitfinex points to the network’s roadmap upgrades as crucial for advancing Ethereum’s institutional viability. Features such as restaking via EigenLayer, the expansion of layer-2 rollups, and improved validator usability are enhancing Ethereum’s position as a scalable, secure settlement platform.
Notably, the Pectra upgrade, completed in May, expanded validator caps and introduced account abstraction. The upcoming Fusaka hard fork, scheduled for November 5, aims to implement PeerDAS—an upgrade expected to reduce node workloads and improve data availability.
Despite these advancements, Ethereum’s protocol revenue remains modest. Over the past 30 days, the network generated $41.9 million in fee revenue, significantly trailing Tron’s $433.9 million over the same period.
Nevertheless, Ethereum continues to chart a path toward greater institutional relevance, driven by strategic upgrades, corporate adoption, and sustained capital inflows.
