Ethereum Recent Updates, Milestones, and Market Momentum

As Ethereum celebrates its 10th anniversary, the network is seeing a flurry of developments that go beyond ceremonial gestures. From institutional moves to increasing on-chain activity, Ethereum is not only looking back at its first decade, but already setting the course for the next. Here's a detailed look at Ethereum’s recent updates:

A Symbolic Celebration: The Ethereum Torch

On July 21, the Ethereum Foundation kicked off a unique way to mark Ethereum's 10th birthday—by launching an NFT called “The Ethereum Torch.” Shared through its official X (formerly Twitter) account, this digital torch is more than a collectible. It’s a curated journey through ten Ethereum community wallets, each holding it for 24 hours until July 30.

Joseph Lubin, a co-founder of Ethereum and the founder of ConsenSys, was selected as the first holder of the torch. Over ten days, the NFT will pass through wallets of carefully chosen community members to symbolize Ethereum’s global reach and collective spirit. It’s a nod to the decentralized ethos that powered the network’s rise.

On July 30, the NFT will be burned, closing one chapter and opening another. A new NFT will be available for free minting on Ethereum’s official site—meant to serve as a digital keepsake marking this turning point.

Institutional Momentum: BlackRock and Nasdaq Make a Move

In another major development, Nasdaq has filed an application with the U.S. Securities and Exchange Commission (SEC) on behalf of BlackRock to add staking features to its iShares Ethereum ETF. If approved, this move will give ETF investors exposure not just to Ether itself, but also to the staking rewards generated by participating in Ethereum’s proof-of-stake consensus mechanism.

This filing builds on recent regulatory guidance. In May, the SEC clarified that staking rewards earned from running validator nodes on proof-of-stake blockchains are to be treated as earned income—not capital gains. This could create a clearer, more tax-efficient framework for institutional investors entering Ethereum staking.

SharpLink Adds Firepower to Its Ethereum Bet

Joseph Lubin-backed SharpLink Gaming is another name showing serious conviction in Ethereum. The company recently revised its prospectus to the SEC, raising its proposed stock sale from $1 billion to $6 billion.

Their plan is to use most of the proceeds to buy Ether.

Earlier, SharpLink already added $515 million worth of ETH to its treasury in just nine days, bringing its total holdings to 280,706 ETH as of July 15. If the full $6 billion were deployed at current prices, the company could control close to 1.4% of ETH’s total circulating supply.

The capital raised will primarily go toward Ethereum acquisitions, along with core business needs and operational costs.

DeFi Stands to Gain from Stablecoin Regulation

The recently signed GENIUS bill by former President Donald Trump bans yield-bearing stablecoins, removing a key interest-earning option from both retail and institutional investors.

Analysts believe this could drive more capital into Ethereum DeFi protocols, which continue to offer attractive yields through staking, lending, and liquidity provision.

“The dollar is a depreciating asset without yield,” said Christopher Perkins, President of CoinFund. “DeFi is where you can generate that yield to preserve value.”

With institutions needing to generate returns on capital, the crackdown on yield-bearing stablecoins might ironically help Ethereum’s native financial ecosystem flourish.

Spot ETF Inflows Surge

Ethereum’s market momentum has been mirrored by huge inflows into spot Ether ETFs. Over the past two weeks, these ETFs have recorded $7.49 billion in net inflows.

On July 16, Ether ETFs marked their biggest day ever, bringing in $726.74 million in a single session. The very next day saw another $602.02 million in inflows.

These numbers reflect growing institutional confidence in Ethereum—not just as a speculative asset but as a long-term portfolio component. And with the approval of staking in ETFs on the table, this interest may climb even higher.

Schwab Enters the Game

Charles Schwab, one of the largest investment firms in the U.S., announced plans to roll out spot trading for Bitcoin and Ethereum. CEO Rick Wurster confirmed that Schwab clients already hold over 20% of the crypto ETP market, with significant demand for in-house exposure

Schwab clients, who collectively manage $10.8 trillion, currently keep only 1-2% of their crypto with third-party platforms.

“They really want to bring it back to Schwab because they trust us. They want us to sit alongside their other assets,” Wurster said. 

With Schwab entering the spot market, this could redirect billions in crypto capital back into mainstream financial rails.

On-Chain Optimism: Gas Limit Increases and Rising Network Activity

Ethereum’s technical backbone is also strengthening. The gas limit—which defines how much computation can be done in a block—rose to over 37.3 million units on Sunday, a roughly 3% increase from the previous week.

This is part of a grassroots campaign dubbed “Pump the Gas”, where Ethereum validators signal support for raising the gas limit to 45 million. Nearly 47.2% of staked validators are backing the proposal, with Ethereum co-founder Vitalik Buterin confirming that almost 50% are on board.

Higher gas limits mean higher throughput and lower transaction costs. Ethereum’s transaction-per-second rate (TPS) jumped to nearly 18, up from 15 in April. The network is now handling 1.4 million daily transactions, compared to 1.1 million just three months ago.

Price Momentum: Ether Tops $3,800

This mix of institutional demand, regulatory clarity, and network upgrades has had a clear impact on Ethereum’s price. ETH surged 54% over the past month, topping $3,800 on Sunday—a seven-month high.

Notably, corporate treasuries and ETF flows have played a significant role in this price rise. Traders like James Wynn are also placing bold bets. According to onchain data, Wynn recently opened a 25x leveraged long position on Ether, totaling 3,269 ETH worth over $12 million.