Group 1: Ethereum's Institutional Adoption - FBS highlights Ethereum's growing role as a financial backbone for Wall Street, supported by billionaire investor Peter Thiel's backing of ETH-focused treasuries, indicating institutional capital's shift in perception of Ethereum [1][4] - Ethereum's staking economy has over $170 billion worth of ETH staked, evolving it into a yield-bearing instrument with annual yields of 3–4%, making it attractive for institutional investors [2] - The launch of ETH spot ETFs in 2024 has attracted $30 billion in assets under management, marking a significant milestone in Ethereum's institutional adoption [4] Group 2: Scalability and Tokenization - Ethereum's Layer 2 networks, including Arbitrum, Optimism, and Coinbase's Base, process 12–14 million transactions daily, significantly surpassing Ethereum's mainnet, which enhances its scalability [3] - The tokenization market, currently valued at $24 billion, is expected to expand rapidly, with Ethereum already dominating this space through projects backed by major financial institutions like BlackRock, JPMorgan, and Citigroup [4] Group 3: Structural Shift in Financial Markets - FBS concludes that Ethereum is transitioning from a speculative asset to the foundation for the next generation of financial markets, emphasizing the importance of recognizing this structural shift [5] - Key tokens positioned to benefit from this institutional shift include Arbitrum (ARB), Chainlink (LINK), and Lido (LDO), which are integral to Ethereum's growing yield economy and tokenization efforts [7]