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: $1,778.64 (-15.39%)
Ethereum market cap: $214.74B (-15.49%)
Monthly Ethereum ETF netflow: -$165.5M
Ethereum staked: $70.6B (-14.53%)
Stablecoin TVL (across Ethereum & L2s): $161B (-13.74%)
Ethereum RWAs total value: $18.1B (-13%)
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 5.62 million ETH (about $10.2 billion), 4.66% of total supply, after it bought 76,881 ETH during the week of June 9-14.
SharpLink, an Ethereum treasury company, is being added to the Russell 2000 and Russell 3000 indexes on June 29. The inclusion means more funds and ETFs tracking the indexes will have to buy the company’s stock to stay in line with the benchmark, indirectly routing capital to SharpLink.
CME Group launched Nasdaq CME Crypto Index futures, a derivatives product that lets institutions gain or hedge exposure to a basket of major cryptocurrencies, including Ethereum and other large-cap assets.
A Big Move We’re Watching: Circle launches wrapped BTC asset
Circle launched cirBTC on Ethereum, a 1:1 bitcoin-backed wrapped asset that can be used to deploy BTC collateral into Ethereum’s lending, trading, and settlement markets without having to sell the underlying asset.
Wrapped bitcoin isn’t a new product, with many variations floating around, and we also have entire blockchains and protocols specifically designed to make bitcoin more productive.
But this launch stands out because of the issuer and its institutional design. Circle is a regulated, fiat-scale financial infrastructure company already deeply embedded in global stablecoin settlement through its USDC stablecoin. This gives cirBTC a direct distribution path to banks, fintechs, and payment systems that are within Circle’s ecosystem.
In general, cirBTC’s launch shows how multiple institutional pathways are emerging, designed to help major players use bitcoin as a productive, programmable collateral within Ethereum-based financial markets.
A Chart Worth Checking Out
Ethereum Developments
Morpho raised $175M for its onchain credit infrastructure. The company plans to use the funds to help banks and asset managers integrate blockchain-built lending products and Ethereum-based credit markets into already existing systems.
Brett Redfearn, president of Securitize and former SEC Director of Trading and Markets, spoke on the Talking Tokens podcast about how he’s seen tokenization go from floor-based trading rooms to onchain capital markets, and why tokenized stocks are at the top of his radar.
Coinbase Ventures launched an onchain savings product with Ethena’s USDe stablecoin that brings Ethereum-native yield infrastructure to Coinbase users through its EVM-compatible blockchain, Base.
KPK launched ETH Yield Term on Euler, a monthly, fixed-rate Ethereum lending market anchored to ETH staking benchmark TESR. The product allows wrapped Ethereum to be supplied into curated credit markets where borrow rates are set once per month.
The Token Relations IR Scorecard
As institutions come into crypto, many teams with tokens want an investor relations strategy but struggle on where to start or if they’re doing enough.
We designed a free tool that shows teams exactly how their IR measures up, show where companies currently stand, and what gaps needs to be addressed.
This is the Institutional Ethereum Update: June 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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