Ethereum As it enters its second decade on the occasion of its 11th anniversary, the Foundation has undergone significant organizational changes over the past year, while institutional adoption of the project has increased markedly. Over the past year, the Ethereum Foundation underwent a major restructuring in response to dissatisfaction among developers and community members regarding its operational efficiency, including a 20% workforce reduction and the departure of several senior members.The foundation released a new mission statement and spun off several entities to decentralize responsibilities, aiming to reduce its own influence on the Ethereum ecosystem. On the technical front, the Fusaka upgrade has been activated, introducing PeerDAS to improve Layer 2 efficiency.Meanwhile, the relationship between Wall Street and Ethereum has undergone significant changes, with institutions such as BlackRock (BlackRock) and JPMorgan Chase (JPMorgan) deepening their involvement in the Ethereum ecosystem. The U.S. Ethereum spot ETF has seen cumulative net inflows of over $11.23 billion since 2024. Institutions are not only holding ETH but also issuing financial products directly on the network.