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: $1,963.76 (-36.6%)
Ethereum market cap: $237.02B (-36.6%)
Monthly Ethereum ETF netflow: -$326.9M (-7.4%)
Ethereum staked: $73.7B (-34.2%)
Stablecoin TVL (across Ethereum & L2s): $177B (-5.3%)
Ethereum RWAs total value: $19.6B (+11.4%)
The metrics are accurate at the time of publication. The percentage change is over a 30-day period.
3 Key Institutional Adoption Points
Lido has launched stVaults, a modular staking primitive that lets institutions and operators run segregated validator setups and customize them. Users can also choose to retain liquidity via a shared liquidity layer with StETH.
Anchorage Digital has added support for Morpho, allowing its institutional clients to allocate capital to Morpho Vaults, which are curated strategies with qualified custody and policy controls that enable access to Ethereum-based lending strategies.
ETHZilla, a publicly traded Ethereum treasury firm, launched the Eurus Aero Token I on Arbitrum. This gives investors the ability to participate in fractional ownership of leased jet engines with monthly distributions.
A Big Move We’re Watching: Danske Bank Ends Crypto Ban
Denmark’s Danske Bank is the latest to join the host of lenders entering the crypto space.
The bank has ended its ban on crypto products after eight years, and is now allowing customers to invest in Bitcoin and Ethereum exchange traded products (ETPs) through its platform.
The products are available through Danske eBanking and Mobile Banking, and are being offered under MiFID II and the EU’s Markets in Crypto-Assets (MiCA) framework, which aim to improve transparency and investor protection in digital assets.
While Danske now allows its customers to trade Bitcoin, access to Ethereum ETPs would let investors gain exposure to both price movements and the underlying network without needing to hold a digital wallet, reflecting Ethereum’s blockchain-based mechanics.
Danske Bank joins a growing slate of European banks integrating Ethereum into regulated investment products. In late 2024, Swiss-bank Zürcher Kantonalbank (ZKB) expanded its investment offerings to include Ethereum ETPs, which let more than 1.5 million of its clients gain regulated exposure to the asset. Meanwhile, ING Deutschland started offering crypto ETP and ETN trading earlier this month to its near 3.2 million retail brokerage clients through its direct depot platform.
All in, the institutional market for Ethereum continues to grow as European banks integrate regulated ETP access into their core trading platforms.
Other Major Ethereum Developments
Ethereum ETFs aggregated assets under management have fallen 19% so far in February to $10.97 billion, from $13.69 billion at the beginning of the month
Danny Ryan, co-founder of Etherealize, explained how Ethereum’s decentralized infrastructure can relieve counterparty risk and enable fairer capital markets
SharpLink CEO Joseph Chalom spoke on the Crypto in America podcast (timestamp: 2:45:46) about how institutions will view digital asset treasuries more as an active entryway into crypto than a passive one
As for the treasury company, it generated 552 ETH, worth nearly $1.1M, from staking rewards during the first week of February
The Enterprise Ethereum Alliance, which serves as an institutional coordination layer for Ethereum, said Polygon Labs, Ethena and Nethermind have joined as members to provide expertise in payments and stablecoins
BitMine, the largest ETH treasury company, now holds more than 4.33 million tokens, worth approximately $8.88B, which accounts for 3.6% of the total supply
This is the Institutional Ethereum Update: February Edition.
This product was built by Token Relations.
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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