Ethereum has surged 60% over the past month to hover near $3,800, its highest level since January. The iShares Ethereum Trust (ETHA) remains the cheapest and easiest way to buy Ethereum, and it IS a “Buy” for the coming explosion in token-funded start-ups, advises Michael Murphy, editor of New World Investor.
The second-largest cryptocurrency by market cap has yet to reclaim its 2021 high north of $4,600. But it is the big beneficiary of Crypto Week. The number of stablecoins in circulation recently hit $250 billion. That’s more than physical Canadian dollars or British pounds in circulation.
iShares Ethereum Trust (ETHA)
Stablecoins are simply the tokenization of the US dollar. Every stock, bond, piece of real estate, barrel of oil, and work of art will be tokenized on a blockchain. Most tokenized assets, from stocks to tokenized Treasuries to stablecoins, all run on Ethereum.
BlackRock, Robinhood, Visa, PayPal, Stripe, and JPMorgan are also all building on top of Ethereum, which is becoming the settlement layer for the new blockchain-based financial system. As more assets move onto its chain, Ethereum earns more fees, lifting its price.
The primary risk: Ethereum falls due to over-regulation or is surpassed by another cryptocurrency.
