In this wave of market trends, ETH has consistently lagged behind.

However, the market sentiment has changed a bit recently, and you can feel that ETH is coming back.
For example, Tom Lee, the "Wall Street Oracle," has completed a $250 million financing through BitMine, almost entirely to allocate ETH, which also makes BitMine one of the largest holders of ETH, even surpassing SharpLink and the Ethereum Foundation. The amount is not the 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 layout: on one hand, they are reducing their 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 single platforms, but are placing more 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 on whether ETH can break $10,000 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 shouldn't just look at a single product, but rather how it plays a role in the Web3 ecosystem.
Of course, there's no need to rush to make judgments; what matters is to feel the changes that are happening.