Every month, we dive deep into how institutions are interacting with Ethereum, what’s happening onchain, which firms are adopting the technology, and more.
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The Monthly Update on Ethereum Metrics
Ethereum price: $2,313.04 (-0.8%)
Ethereum market cap: $279.24B (-1.2%)
Monthly Ethereum ETF netflow: $452.4M (+105.37%)
Ethereum staked: $91.1B (+3.29%)
Stablecoin TVL (across Ethereum & L2s): $183B (-5.18%)
Ethereum RWAs total value: $17.6B (+4.14%)
The metrics are accurate at the time of publication. The percentage change is over a 30-day period.
Institutional Adoption
Bitmine has increased its total holdings to 4.97 million ETH, 4.12% of total supply (about $11.53 billion). In addition, the company was uplisted to the New York Stock Exchange, from NYSE American, because it now meets capital requirements.
Legal & General Asset Management has moved more than £50 billion (~$67.61 billion) onto Ethereum via Calastone’s Tokenized Distribution Network. Calastone's platform turns traditional fund shares into smart-contract tokens that automatically reflect subscriptions and redemptions, handling token creation, order routing, trade aggregation and settlement.
The Ethereum Foundationcompleted its 70,000 ETH staking initiative on April 3. Previously announced in February, the initiative aims to help secure the Ethereum network while funding its core operations, protocol research and development, and community grant funding.
A Big Move We’re Watching: Charles Schwab launches crypto platform
The American bank has launched a platform, dubbed “Schwab Crypto,” that aims to give its retail clients direct access to bitcoin and Ethereum trading. The bank will custody client assets itself, and Paxos, a blockchain infrastructure provider, will handle sub-custody and trade execution.
Charles Schwab manages nearly $12 trillion in assets and has 39 million brokerage accounts. Its customers already have access to U.S. spot crypto exchange-traded products, but those are securities that track Ethereum's price, and are custodied by third parties.
The new platform enables direct trading, which makes Schwab responsible for safekeeping Ethereum itself. And as client demand grows, so will the amount of ether Schwab must hold. This structure gives the bank an ongoing reason to hold Ethereum at scale.
Overall, Charles Schwab joins a growing group of traditional financial institutions that are providing access to Ethereum as part of their core offerings. JP Morgan has built a tokenized money market fund on Ethereum, BlackRock's BUIDL runs on the blockchain, and a number of tokenized real-world assets settle on the network, too.Ethereum Developments
Other Major Ethereum Developments
Ethereum ETFs’ AUM has grown 19.74% to $14.62 billion since the beginning of the month. BlackRock’s iShares Staked Ethereum Trust ETF contributed to the increase, recording its highest single-day of inflow of$96.8M on March 25.
Intchains, a crypto mining company, said on April 16 that it has staked a total of 8,040 ETH (worth about $19M) between FalconX and Goldshell Stake. This initiative marks a shift in the company’s strategy as it pivots from selling hardware products to focusing on yield and accumulating Ethereum.
Bit Digital, a digital asset firm focused on holding and staking Ethereum, said it now holds 155,444 ETH (worth about $3.59 billion), of which 96,322 ETH is staked, generating annualized yield of approximately 2.9%.
Matthew Sheffield, chief investment officer at Sharplink, explained on The Street Roundtable why the company believes staked Ethereum is a more productive investment vehicle than money market accounts or CDs.
Etherealize co-founders Vivek Raman and Danny Ryan spoke with Raoul Pal, co-founder and CEO of Real Vision Group, about Ethereum’s role in global trading and its uses as trustless collateral
This is the Institutional Ethereum Update: April Edition.
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.
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