BTC and ETH, which one should you choose? Instead of stressing over it, take a look at how the traditional financial giants are operating.

Recently, JPMorgan's actions have been quite eye-catching — they launched the first tokenized money market fund on Ethereum, directly investing $100 million of their own capital as seed money. Soon after, BlackRock also acted quietly, transferring $140 million worth of ETH to leading platforms, bringing their holdings close to 4 million tokens. If these moves don’t indicate a trend, then they’re just pretending.

What exactly attracts these financial giants to choose ETH? First, you need to understand what tokenization means. Simply put, it’s about bringing traditional financial assets — like treasury bills and commercial paper — onto the blockchain. It sounds simple, but actually doing it isn’t so easy. Ethereum, with its most mature smart contract ecosystem, has already secured 55% of the tokenized asset market share. Even more astonishing, 74% of tokenized treasury bills are running on the ETH chain.

In other words, as long as the wave of tokenization continues, ETH will keep drawing from traditional finance sources. JPMorgan’s fund has a minimum investment of $1 million, catering to qualified investors, which shows that institutions are already openly competing for high-quality ETH-related assets.

Some might ask, why don’t institutions just buy BTC directly? There’s actually a reason. BTC is positioned as “digital gold,” with the main selling point being value preservation; ETH, on the other hand, plays the role of “digital financial infrastructure,” emphasizing growth potential. Currently, with global liquidity easing expectations rising, institutional investors prefer to allocate their funds to assets with growth prospects.

On-chain data shows that since late November, several billion dollars’ worth of BTC funds have flowed into ETH. These big players are operating more straightforwardly — selling BTC while aggressively building long positions on ETH. Even if they’re temporarily showing paper losses, they don’t panic. This is the thinking of institutional-level operations, which is completely different from retail investors chasing gains and selling in panic.