What is surprising is that BlackRock, the world's largest asset management company, is switching from BTC to ETH.
Why?
This is not a simple position adjustment, but a bet on Ethereum's future role as the dominant infrastructure in the crypto world.
1. Ethereum Roadmap: From Merger to Global Domination
Vitalik recently released the most radical technical evolution roadmap in Ethereum’s history, with the following goals:
Devouring the global traffic bottleneck (100,000 TPS)
Eliminating MEV and Centralization
A decentralized computing platform that realizes true universal participation
The roadmap is divided into six major stages, each of which paves the way for Ethereum to become a global trustless infrastructure.
2. Detailed explanation of the stages: How ETH will undergo a qualitative change
Phase 1: The Merge — Completed
Switching from PoW to PoS, energy consumption drops by 99.95%
Block confirmation speed increased to 12 seconds
Lay a safe and efficient consensus foundation
Phase 2: The Surge — Expansion phase begins
EIP-4844 + Danksharding brings over 100,000 TPS
L2 Gas costs drop to less than a few cents
The speed is comparable to Solana, and the security is still at the ETH level
Phase 3: The Scourge — The MEV Terminator
Introducing the Proposer-Builder Separation (PBS) framework
Reducing on-chain oligopoly
Improve fairness and neutrality and protect user interests
Phase 4: The Verge — Verifiable by Everyone
Introducing Verkle Tree to implement lightweight verification nodes
Mobile phones and Raspberry Pi can run the authenticator
Decentralization capabilities break through hardware barriers
Phase 5: The Purge — Chain Slimming
Enable EIP-4444, and store only the last 12 months of block history by default
Reduce hard disk requirements and improve node synchronization efficiency
The operating cost is greatly reduced and the network is lighter
Phase 6: The Splurge — The final touches
Launching a better wallet experience and social recovery function
Optimize L2 cross-chain bridge and account abstraction
Truly enable Web2 users to enter Web3 without feeling
3. Pectra upgrade has started, the real climax is yet to come
In May 2025, the Pectra upgrade was successfully launched, bringing the following key progress:
EIP-7702: Enabling smart contract capabilities for ordinary wallets
Staking limit increase injects more vitality into PoS
Blob space expansion, L2 is faster and cheaper
⚠️ However, this is not the end, it is just the “launching pad”.
4. The biggest explosion point of the year: PeerDAS + complete Danksharding
PeerDAS, which will be launched at the end of the year, will truly unleash the potential of Danksharding:
Nodes can verify data without downloading all blobs
Implementing a trustless, ultra-low-cost data availability layer
All Rollups can share an "infinitely scalable" ETH mainnet
The implementation of this technology marks that Ethereum will become the unified settlement layer and data layer of the entire Web3 world.
5. BlackRock bets on ETH: Why now?
If you pay attention to the on-chain behavior, BlackRock is gradually reducing its BTC position and moving to ETH.
Why?
Ethereum is no longer a “slow and expensive” public chain, but a constantly upgrading super platform
ETH is the only multifunctional asset that can be used as currency, gas, and pledged asset.
The upgrade rhythm is real, not a white paper PPT
To sum up in one sentence: ETH's usage scenarios and status will continue to expand with upgrades, and its supply and demand model is better than BTC.
6. The role of ETH is much more than just a “token”
You need ETH to stake (security)
You need ETH to pay for Gas (to run)
You need ETH to participate in on-chain governance and smart contract interaction (trust)
ETH is the "blood" and "fuel" of the entire network. It is not a speculative target, but the core asset of digital civilization.
Conclusion: ETH is no longer a narrative to replace BTC, but an “operating system for digital trust”
This upgrade is not a simple hard fork, but:
An exponential performance jump (TPS, Gas)
A structural change (MEV, node threshold, chain history)
A user experience redesign (wallet, L2 bridge, abstract account)
When ETH becomes the "settlement, trust, and value core" of all crypto activities, its value will no longer come from hype, but from the "rental model" of all Web3 infrastructure.
If BTC is "digital gold", then ETH will be the "TCP/IP protocol of the digital world".
So, when BlackRock starts to change its positions, smart investors will understand:
The next bull market will not be a meme or a narrative, but the moment for ETH to realize its value.
