Asia Markets Open with Eyes on Ethereum as GENIUS Act Passes, Institutions Flock to ETH
“Every action is powered by ether,” says Vivek Raman, founder of Etherealize, highlighting how institutional interest in Ethereum is booming alongside the explosive growth of stablecoins.
As Asia kicks off its trading session, Ethereum (ETH) is holding firm above $2,500, buoyed by news that the U.S. Senate has passed the GENIUS Act with bipartisan backing.
While lawmakers were busy in Washington, Vivek Raman, the founder of Ethereum-focused advocacy group Etherealize, was traversing Wall Street, championing Ethereum’s growing role in institutional finance.
“Ethereum isn’t new—it’s nearly a decade old—but Wall Street is finally paying serious attention,” Raman told CoinDesk in a break between meetings in the lobby of Brookfield Place.
His days are a whirlwind of conversations across banks and investment firms, educating them about Ethereum’s power as neutral collateral, how Layer 2 networks function, and why all activity ultimately relies on ETH.
“Every action is powered by ether,” Raman emphasized. “Eventually, it’ll be regarded as pristine collateral, on par with bitcoin, serving as the neutral asset anchoring the entire ecosystem.”
He credits the surge in institutional curiosity to long-awaited regulatory clarity.
“For years, Ethereum sat in limbo—we didn’t know if it was a security or a commodity,” Raman explained, pointing to the GENIUS Act and broader policy momentum in the U.S. “The ETH ETF helped signal it’s a commodity, but it wasn’t completely explicit. Now, with clearer market rules, Ethereum’s true utility is unleashed.”
According to Raman, this clarity means ETH is central to every transaction across tokenized assets, stablecoins, and Layer 2 solutions.
“Circle might get the IPO spotlight,” Raman said, referring to the stablecoin issuer’s market debut. “But it’s Ethereum that captures the value flows. ETH secures the ecosystem, providing neutral, censorship-resistant collateral that seamlessly transfers value among tokenized assets.”
VanEck’s Solana ETF Progresses with DTCC Listing
Meanwhile, VanEck’s proposed Solana ETF has appeared on the DTCC website under the ticker VSOL, signaling readiness for electronic clearing and settlement.
The filing follows the success of spot bitcoin and ether ETFs and growing institutional interest in Solana (SOL). Still, Canadian firms remain a step ahead, with Purpose, Evolve, CI, and 3iQ all launching Solana ETFs in April after approval from Ontario’s securities regulator.
OKX Expands in Europe with Regulated German and Polish Launch
OKX has officially rolled out regulated crypto exchanges in Germany and Poland, expanding into two of Europe’s most active digital asset markets.
The exchanges offer spot trading, staking, trading bots, and over 60 crypto-Euro pairs via localized platforms and euro onramps.
“Germany and Poland are critical markets for us in the EU,” said Erald Ghoos, CEO of OKX Europe. “Our licenses enable us to tailor services to local users, boosting security, efficiency, and overall value.”
OKX underscored its regulatory commitments, highlighting MiCA compliance and maintaining 31 consecutive months of Proof of Reserves disclosures.
Market Snapshot
- BTC: Bitcoin briefly dipped to $103,396 amid Middle East tensions before rebounding as institutional ETF buying persisted. Prices fluctuated between $103,405 and $107,780 in a tight trading band driven by low exchange reserves.
- ETH: Ethereum saw volatile swings over the past day but bounced from support around $2,460 on strong trading volumes, although resistance near $2,800 remains firm.
- Gold: Gold continues to trade below $3,400 as investors await signals from the Fed, with geopolitical risks and concerns about U.S. deficits underpinning its longer-term bullish trend.
- Nikkei 225: Asian markets eased lower on Wednesday. Japan’s Nikkei 225 slipped 0.15% amid rising concerns over escalating Israel-Iran tensions and speculation about potential U.S. military action.
- S&P 500: U.S. equities closed weaker on Tuesday, with the S&P 500 declining 0.84% to 5,982.72 as geopolitical uncertainty weighed on sentiment.
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