#美股2026展望 Wall Street is on the move again - the world's largest asset management company BlackRock has submitted an application for a stake version of the Ethereum Trust ETF. If this goes through, it means traditional investors can not only benefit from the price rise of ETH but also earn staking rewards.

But guess what? ETH is currently stuck in an extremely delicate position.

The current price is hovering around $3000, and if it pushes up through $3193, $1.337 billion in shorts will be directly liquidated; if it accidentally drops below $2892, over $838 million in longs will face mass liquidation. The market is like a tightened spring, ready to explode in any direction at any moment.

Even crazier is that there are now 9 Wall Street institutions hoarding over 18 billion dollars worth of Ethereum. Money has come in, but Vitalik can't sit still - he recently expressed concerns that the rampant buying by institutions will push the real developers and ecosystem builders to the margins. After all, the original vision of Ethereum was to allow ordinary people to run nodes, not to become a game for big capital.

This reminds me of the upgrade in May last year. At that time, ETH skyrocketed from $1300 to a historical peak of $4956. Now we are at a critical juncture again, with institutions entering the market with real money; liquidity and mainstream recognition will surely surge; but how much longer can the banner of decentralization hold up?

To be honest, it’s a dilemma. Do you think that after institutions enter in large numbers, the ecosystem of $ETH will become stronger, or will it gradually change for the worse?