Over the past seven days, the net inflow of ETH ETF has exceeded 2 billion US dollars. This kind of competitive situation has never been seen before. There are two reasons why Wall Street institutions/new institutions are fiercely competing for ETH: One reason is that BTC is not cheap now, making it another micro strategy with low cost-effectiveness. Of course, this is a secondary reason. Secondly, the main reason is that institutions see Ethereum as a new paradigm different from Bitcoin. BTC is digital gold, with an unshakable leading position. It doesn't make much sense to recreate a digital gold. Ethereum is a new paradigm that can host new finance, including stablecoins, asset tokenization, future new payments, and the expansion of the US dollar hegemony. Based on this, on chain transactions are generated, including lending, trading, derivatives, and more. Not only assets such as US dollars, US bonds, and US stocks can be listed on the blockchain, but also physical gold, collectibles, real estate, and even BTC can be listed on Ethereum after the ecosystem matures in the future (currently over 20 billion US dollars have been listed on the blockchain). Institutions need a new financial infrastructure that can support trillions/trillions of dollars. If you were an institution, how would you choose? Ethereum naturally becomes the target of institutional bets on future new finance. This can also understand why some institutions are now fully competing for ETH.