Catenaa, Sunday, June 22, 2025-A coalition of prominent Ethereum supporters argued Thursday that Ether is significantly undervalued and overlooked by institutional investors, comparing the cryptocurrency to global commodities such as oil.
In a white paper dubbed “The Bull Case for ETH,” the authors presented Ethereum as a misunderstood digital asset with immense potential, citing its role in stablecoins, tokenized assets, and decentralized applications.
The 21 co-authors, including Ethereum think tank Etherealize’s co-founder Vivek Raman, said ETH could theoretically sustain a long-term price of $740,000 if assessed like traditional commodities.
“This is not just a tech stock. Ethereum is the infrastructure of the onchain economy,” said Raman, stressing that current valuation methods fail to capture ETH’s full utility.
ETH’s current inflation rate, following the EIP-1559 token-burning mechanism, is about 0.092%, lower than both fiat currencies and Bitcoin. The paper noted that over 80% of real-world tokenized assets have been issued on Ethereum, giving it a dominant market position.
Institutional uptake has so far lagged due to Bitcoin’s more established “digital gold” narrative, but Ethereum’s positioning as “digital oil” could change that. The Strategic ETH Reserve, backed by co-founder Joe Lubin, already holds $2 billion in Ether.
Still, critics argue ETH may be overpriced. DBA co-founder Jon Charbonneau, though an Ethereum advocate, believes the token is overvalued at current levels.
Ethereum’s leadership has recently pivoted toward improved institutional messaging, appointing new co-directors at the Ethereum Foundation and launching Etherealize to interface with lawmakers and large investors.
