Ethereum (ETH) Price: Former BlackRock Executive Says It’s Wall Street’s Blockchain of Choice

TLDR

• Former BlackRock executive Joseph Chalom says Ethereum is the only blockchain with the trust, security, and liquidity Wall Street needs for digitizing finance
• Tokenized fund assets on Ethereum have surged nearly 2,000% since January 2024, led by BlackRock and Fidelity bringing investment funds on-chain
• Chalom’s company Sharplink holds over $3 billion in ETH and stakes nearly all of it, exploring restaking strategies for additional yield beyond the 3% from proof-of-stake
• ETH currently trades near $3,568, below its 20-week moving average of $3,803 but above its 50-week moving average of $3,365
• Regulatory clarity in Singapore, Switzerland, and Hong Kong is attracting more institutional participants to tokenized assets on Ethereum

Joseph Chalom spent 20 years at BlackRock before leaving to focus on Ethereum. The former digital assets head now serves as co-CEO of Sharplink, a digital asset treasury company.

At BlackRock, Chalom helped scale the Aladdin platform and led the firm’s crypto initiatives. These included backing Circle, launching the IBIT exchange-traded fund, and investing in Securitize.

His experience shaped his view of Ethereum as infrastructure rather than speculation. He contrasts it with bitcoin, calling bitcoin a store of value while describing Ethereum as a multi-purpose platform.

The blockchain supports financial transactions, lending, trading, NFTs and complex applications. Chalom points to Ethereum hosting the majority of stablecoins and tokenized assets.

Institutional Money Flows Into Ethereum

Sharplink holds over $3 billion worth of ether. Nearly all of it is staked.

The company is working with Consensys, Linea and EigenLayer on restaking strategies. These aim to unlock additional yield while keeping assets with regulated custodians.

Token Terminal data shows tokenized fund assets on Ethereum grew nearly 2,000% since January 2024. BlackRock and Fidelity drove this growth by bringing investment funds on-chain.

Ethereum’s developer community and network security support this institutional adoption. Recent upgrades including the move to Proof-of-Stake and EIP-4844 have cut transaction fees.

Layer 2 networks like Arbitrum and Optimism now offer near-zero cost transactions. This makes smaller tokenization projects financially viable.

Regulatory frameworks are emerging in Singapore, Switzerland and Hong Kong. These jurisdictions are creating guidelines for tokenized assets.

Token format standards like ERC-20 and ERC-3643 are easing integration for financial firms. This technical maturity paired with regulatory clarity strengthens Ethereum’s position.

Current Price Action

ETH trades near $3,568 after reaching peaks between $4,600 and $4,700. The token sits below its 20-week moving average of $3,803.

It remains above its 50-week moving average of $3,365. The RSI reads 48.4 while the MACD shows bearish signals.

Support exists between $3,350 and $3,400. Holding this range could lead to tests of $3,800 levels.

A break below $3,350 might push prices toward $3,000 to $3,100. Momentum indicators point to a cooling phase in the short term.

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