JPMorgan analysts noted that Ethereum's recent Pectra upgrade supports long-term growth but hasn't increased network usage significantly.
The upgrade focused on staking processes, reward structures, and asset movement efficiency, appealing to institutional investors.
Compared to retail-driven trends in other platforms, Ethereum is strategically shifting towards deeper institutional engagement, following Bitcoin's path.
Despite limited immediate impact on transaction volumes, JPMorgan sees Ethereum's infrastructure focus positioning it well for long-term growth as a premier smart contract platform.