Ethereum, the world's second-largest blockchain network, is expected to be the focus of the next spot cryptocurrency exchange-traded fund. However, due to its highly technical roadmap, there are concerns that Ethereum's publicity issues may suppress demand for a spot Ethereum ETF. Markus Thielen, head of research at 10x Research, suggested that Ethereum could be promoted as "a network that empowers the future of finance." In addition, Henrik Andersson, chief investment officer of Apollo Crypto, said that Ethereum could also be called a "decentralized platform for various services." He also suggested that Ethereum is a cryptocurrency with more room for growth than Bitcoin. Although Ethereum faces challenges from the SEC investigation and competitors such as Solana, some large Wall Street companies have begun to explore Ethereum's use cases and have achieved considerable success.