Key Takeaways
ETH’s Stablecoin Supply has hit $131.88 billion, and Options Open Interest surged to $9.88 billion, pointing to deepening institutional traction as the GENIUS Act nears.
While Bitcoin [BTC] reached multiple ATHs in 2025, Ethereum [ETH] has failed to keep pace. Since then, Ethereum remains approximately 39.1% below its ATH of $4,891 recorded four years ago.
Despite ETH’s extended struggle on its price charts, analysts are seeing a light at the end of the tunnel. One of them is Ted Pillows, who suggested a potential rally, citing the GENIUS Act.
Three catalysts – One potential ETH breakout
According to Pillows, the GENIUS Act will propel Ethereum prices for three major reasons.
For starters, the Act will bring trillions of stablecoins to the Ethereum ecosystem, thus boosting liquidity across the network.
Source: Artemis
According to Artemis, Ethereum’s Stablecoin Supply stood at $131.88 billion at press time. Meanwhile, Transfer Volume dropped to $35 billion.
If inflows continue rising, it suggests capital is accumulating on-chain and waiting for deployment. Historically, growing stablecoin reserves have preceded higher network activity, a gap Ethereum has struggled to close this year.
Secondly, as a result of the said Act, large U.S. banks would be allowed to engage with Ethereum directly. This would significantly expand adoption, market legitimacy, and capital flows.
Finally, by resolving turf wars such as SEC vs. CFTC and lawsuits like Ripple vs. SEC, the Act could clear long-standing regulatory fog.
The resulting clarity could encourage sidelined institutional investors to re-enter the market—fueling demand organically.
Derivatives surge signals institutional buildup
Interestingly, regardless of existing legal frameworks, institutional demand for Ethereum is at a record high.
At press time, Options Open Interest jumped 9.04% to $9.88 billion, while Options Volume spiked 96.74% to $2.26 billion, both per CoinGlass data.
ETH’s overall Open Interest climbed to $43.59 billion.
Source: CoinGlass
The Options market is dominated by institutional participants, making these metrics a clear signal of rising smart money participation.
Source: CoinGlass
Can the GENIUS Act close the gap with Bitcoin?
Undoubtedly, legal clarity is a major win not only for Ethereum but also for the wider crypto market. This is because it will create a stable environment for investors who sit on the sidelines fearing legal claws.
In doing so, demand for Ethereum will surge and, in turn, result in higher prices. As of now, Ethereum’s institutional demand lags behind Bitcoin, which explains their disparity in performance.
Simply put, increased institutional demand is the missing piece for Ethereum to pump and reclaim $4k. If the GENIUS Act closes this gap, ETH will undoubtedly pump, as posited by Pillows.
