Ethereum gains Wall Street support through adoption
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- Fundstrat co-founder Tom Lee said Wall Street adoption is now Ethereum's biggest growth driver.
- He said institutional use is replacing crypto speculation as the main investment case.
- Lee expects tokenisation and financial infrastructure to support Ethereum's long-term growth.
Ethereum (CRYPTO:ETH) is increasingly being driven by Wall Street adoption rather than crypto speculation, according to BitMine Immersion Technologies chairman Tom Lee.
Lee said more financial institutions are building products on Ethereum, changing the investment case for the blockchain.
"Wall Street is now the biggest bull case for Ethereum, not crypto," said BitMine chairman Tom Lee.
Lee pointed to Robinhood's blockchain initiative, which uses Ethereum for gas fees that settle on the network's base layer, as an example of growing institutional adoption.
Lee said Ethereum's future growth will depend on wider use of tokenised assets and financial applications rather than retail trading activity.
The comments reflect a broader industry view that traditional finance is becoming a larger source of demand for Ethereum services.
At the time of reporting, Ethereum price was $1,847.46.
