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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Ethereum x Institutional Stats
Ethereum price: $2,332 (+16.73%)
Ethereum market cap: $282.62B (+16.55%)
Monthly Ethereum ETF netflow: $220.28M (+1.9%)
Ethereum staked: $88.2B (+19.7%)
Stablecoin TVL (across Ethereum & L2s): $193B (+9.04%)
Ethereum RWAs total value: $16.9B (+1.3%)
The metrics are accurate at the time of publication. The percentage change is over a 30-day period.
Institutional Adoption
Robinhood has launched the public testnet for Robinhood Chain, an Ethereum layer-2 network built using Arbitrum that’s designed to support onchain asset trading and settlement
Want to learn more? Our founder interviewed Robinhood Crypto GM, Johann Kerbrat, at ETH Denver to discuss why the company launched its own chain.
BNP Paribas Asset Management launched a euro-denominated tokenized money market fund on Ethereum, enabling investors to access a traditional short-duration asset strategy on blockchain rails, making it more direct to integrate with collateral and settlement systems
Etherealize’s latest article explores how Ethereum’s scaling strategy is evolving beyond the original “rollup-centric” roadmap, and instead scaling the base layer while allowing L2s to specialize for specific features in order to reduce complexity for institutions to iterate on at scale
A Big Move We’re Watching: BlackRock Launches Staked Ethereum ETF
On March 12, BlackRock listed the iShares Staked Ethereum Trust ETF (ETHB) on the Nasdaq.
Like other staked Ethereum ETFs, the fund provides spot Ethereum exposure, and stakes 70% to 95% of its holdings to generate passive income — investors receive monthly dividend distributions from 82% of staking rewards.
This is BlackRock’s second Ethereum ETF, joining its existing fund, ETHA. Unlike ETHA, however, ETHB distributes staking rewards back to investors instead of accumulating them itself, thus adding an incentive layer on top of potential price appreciation. About 80% of ETHB's assets are currently staked, compared to roughly 66% in Grayscale's ETHE and 61% in Grayscale’s Mini Trust.
ETHB launched with $107 million in assets under management (AUM), and on its first day saw $43.5 million in net inflow, bringing total AUM to $149.5 million.
BlackRock's U.S. head of equity ETFs Jay Jacobs said he expects some rotation from ETHA into ETHB, but also anticipates new investors who previously held ETH directly and staked it themselves.
At the time of publication, the total amount of ETH staked onchain is at an all-time high of 37.74 million ETH, even though ETH's price is down 26% to $2,188 this year. This shows that staking demand is growing independently of price.
Whether ETHB becomes a significant product or a footnote depends on whether it captures genuinely new capital rather than just rotating existing BlackRock ETH investors.Ethereum Developments
Other Major Ethereum Developments
Harvard University acquired $56.6M of Ethereum by buying 3.9M shares in BlackRock's iShares Ethereum Trust ETF (ETHA), marking the establishment’s first Ethereum investment
Ethereum Foundation is using "DVT-Lite" (a simplified distributed validator technology) to stake 72K ETH across distributed setups to enable one-click institutional staking
Anchorage Digital integrated with Puffer Finance to provide institutional investors access to liquid restaking
SharpLink reported revenue of $28.1M in 2025, up significantly from $3.7M a year earlier, and a 50% rise in staking revenue compared to Q3. Net loss widened to $734.6M from $10.1M a year ago, largely owing to unrealized losses of $616.2M as ETH prices dropped in late 2025
Bitmine disclosed its largest weekly Ethereum purchase of the year, acquiring 60.9K ETH
This is the Institutional Ethereum Update: March 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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