Bernstein describes the Ethereum blockchain as a practical technology that “merits praise.”

Ethereum ETFs Draw Over $800 Million as Institutions Embrace the Network’s Utility

Ether-based ETFs have garnered $815 million in inflows over the past 20 days, signaling a surge in institutional interest, according to a new Bernstein report published Monday.

Bernstein highlighted Ethereum’s role as a versatile decentralized platform, distinguishing it from Bitcoin’s status as “digital gold.” The brokerage underscored that Ethereum’s blockchain “deserves love” due to its robust use cases in stablecoins and tokenization, areas where it commands significant market share.

Companies that leverage stablecoins contribute transaction fees that flow back to Ethereum’s network, reinforcing its economic value. This growing ecosystem utility has helped reverse earlier outflows, with year-to-date net inflows into Ether ETFs now standing at $658 million.

Bernstein analysts described this phase as a critical juncture in the evolution of blockchain value capture, with Ethereum ETFs reflecting mounting investor confidence.