From Division to Direction: Ethereum’s Leaders Rally Behind ETH’s Economic Story

By Nate Johnson

Founding Partner

By Nate Johnson, Founding Partner

Our team recently supported the Ethereum community’s development, announcement, and promotion of its report, The Bull Case For ETH: Digital Oil, Store of Value, and Global Reserve Asset for the Digital Economy. The report, which examines the likely role and importance of Ethereum’s ETH asset in the future global economy, was spearheaded by Etherealize (Ethereum’s recently formed, institutional-investor-focused marketing and education arm) and promoted by Ethereum’s co-founders Vitalik Buterin and Joe Lubin, the Ethereum Foundation, and Coinbase’s Ethereum Layer-2 network, Base. 

The shared effort in developing the report and collective support of these key leaders quietly signaled a notable heel turn for some of Ethereum’s biggest names. For years prior to the report, in-fighting among the Ethereum community was rampant – with community members split on whether the leaders of Ethereum should remain focused on perfecting the technology behind the platform or allocate more of their resources to increasing global institutional and investor interest in Ethereum and its ETH asset. This in-fighting reached a fever pitch over the past year, as ETH’s price growth lagged far behind that of Bitcoin, despite several major technological upgrades and scaling breakthroughs. 

Ethereum’s leaders’ support for the “Bull Case for ETH” report was noteworthy because it marked the first time they have joined together to promote ETH’s economic value, indicating that the in-fighting may be coming to an end. The decision to present a unified front and focus on education, coupled with the U.S.’s growing focus on implementing legal frameworks for responsible and sustainable blockchain innovation (as evidenced by the Senate’s passing of the GENIUS act last week), suggests that an Ethereum renaissance may be around the corner – with the potential for the platform to usurp Bitcoin’s and stablecoins’ current stranglehold on the mainstream crypto conversation.  

The Ethereum community’s newfound narrative alignment has also coincided with a substantial uptick in Ethereum-based projects looking for support in seeding a broader narrative about the platform’s potential role as a foundational layer of global finance 2.0 and its value to forward-looking financial institutions. We expect this trend to continue in the coming months and believe the projects that can effectively insert themselves into this conversation and demonstrate their role in accelerating the adoption of Ethereum stand to benefit greatly.  

We encourage anyone interested in digital assets to keep an eye on this narrative, as we expect it to become a focal point of the global crypto conversation alongside growing chatter around stablecoins.