More Reasons to be BULLISH on $ETH: TradFi Keeps Choosing Ethereum.
Institutional $ETH accumulation is no longer just a whale-wallet story; it's showing up in the core infrastructure of traditional finance. #BlackRock announced Tuesday that it's tokenizing share classes across its European Institutional Cash Series money-market funds, representing $311B in assets as of June 30, with the on-chain shares issued on Ethereum in partnership with JPMorgan's Kinexys platform.
Twelve tokenized share classes now span the ICS Euro Government Liquidity, Sterling Government Liquidity, US Treasury, Euro Liquidity, Sterling Liquidity, and US Dollar Liquidity funds, each enabling 24/7 peer-to-peer transfers between approved investor wallets. This comes a day after BlackRock's US launch of its BSTBL and BRSRV tokenized products, and it puts the world's largest asset manager issuing euro, sterling, and dollar money-market shares on Ethereum with JPMorgan running the tokenization layer. Apparently, BlackRock's core cash-management business is moving on-chain.
Bank-level positioning is shifting too. Intesa Sanpaolo, Italy's largest bank, cut its BlackRock IBIT common shares by 93.7% in its latest 13F, from 646,809 shares down to 40,723, while its staked Ethereum ETF holding roughly tripled, from 116,200 shares to 349,600. The filing also showed the bank's IBIT call position collapsing 99.3% alongside a newly disclosed 500,000-share IBIT put.
On-chain data keeps showing more and more whales stacking up million-dollar $ETH in high numbers.
With TradFi increasingly treating Ethereum as its settlement layer of choice and staked ETH is starting to win out over spot Bitcoin exposure, you can tell that #Ethereum would explode in no time. We may not know when, exactly, but it’s certain.
