In this wave of market movement, ETH has always lagged behind.

However, there has been a change in market sentiment recently, and it feels like ETH is coming back.
For example, "Wall Street Oracle" Tom Lee has completed a $250 million financing through BitMine, almost entirely used to acquire ETH, which also makes BitMine one of the largest holders of ETH, even surpassing SharpLink and the Ethereum Foundation. The amount is not the main point, but it is evident that more and more companies are treating ETH as a long-term reserve tool.
Ark Invest is also adjusting their positions: on one hand, they are reducing holdings in Coinbase and Robinhood, while on the other hand, they have increased their stake by 4.4 million shares in BitMine. What does this indicate? Institutions are no longer focusing solely on individual platforms, but rather placing greater importance on the overall development of the ETH ecosystem.
Here's another interesting thing: Tom Dunleavy from Varys Capital and Kyle Samani from Multicoin recently made a bet to see if ETH can break 10,000 USD by 2026. Although it's a personal action, it has also drawn more attention to the future of ETH.
So when we focus on this industry, we should not only look at a single product, but also see how it plays a role in the Web3 ecosystem.
Of course, there's no rush to judge anything; what's important is to feel the changes that are happening.