Market strategist Tom Lee told CNBC he expects Ethereum’s blockchain to become the backbone of bank-issued stablecoins, predicting lenders will acquire Ether not for speculation but as core infrastructure to secure and settle their digital liabilities. Lee pointed to institutions such as Goldman Sachs and JPMorgan as likely early adopters, arguing that holding the token would be essential if banks want to guarantee the convertibility and security of their own dollar-pegged coins. Institutional interest appears to be accelerating. SBET, an investment vehicle linked to Ethereum co-founder Joseph Lubin, has filed to raise US$5 billion for the purchase of roughly 1.4 million Ether after buying about US$1 billion earlier this month. Exchange-traded funds tied to Ether are also attracting large allocations, drawing about US$726 million of net inflows on 17 July. Data show ETF purchases topped 406,000 Ether over the past two days, exceeding the 388,000 coins the network has issued since the 2022 Merge and reinforcing expectations of a tightening supply.