While the TradFi community is still entangled in the Fed's interest rate policies, some have already set their sights on a further place—a global financial settlement network powered by Ethereum.

Who is this person? A former Wall Street analyst, now the helm of a well-known asset management institution. His approach is quite hardcore: his fund has quietly positioned about 3.86 million ETH, which accounts for approximately 3.2% of the total supply of Ethereum, and he plans to increase the holdings to 5%. To put it simply, he is betting on a future with real money.

Why play like this? His logic is actually quite clear.

**The first reason: The wave of tokenization.** At an industry forum last year, he candidly stated that the biggest story of 2025 would be tokenization. Does it sound a bit abstract? But think about it—Wall Street suddenly realizes that simply tokenizing the dollar on the blockchain can yield enormous financial benefits. This cognitive shift is to infrastructure like Ethereum what the internet was to the communications industry back in the day.

**Second reason: Influx of institutional capital.** This is not a retail frenzy, but real big money is at play. Traditional financial institutions are starting to take crypto assets seriously. What does this mean? It means that the scale of future liquidity is completely on a different level.

**The third engine is still in the making.** More institutional innovations and practical applications are happening, although the details are not fully revealed yet, the direction is very clear.

This wave of operations reminds one of MicroStrategy's early positioning in Bitcoin—not a follow-the-crowd approach, but a firm bet on long-term trends. The most interesting part is that while most people are still discussing short-term fluctuations, real participants have long been laying out the macro landscape for the next decade or so.

Will Ethereum become the next severely undervalued asset? Perhaps the answer has already been given behind this wave of large transactions.