Ethereum (ETH) is increasingly being recognized as a foundational asset in the emerging digital dollar economy, with recent reports from Electric Capital and Fidelity highlighting its evolving role beyond a mere transaction token. Celebrating Ethereum’s 10th anniversary, Electric Capital published an updated thesis emphasizing ETH's function as the financial backbone supporting stablecoins, which are accelerating dollar adoption in decentralized finance. Fidelity’s new report frames ETH as a global store of value and sovereign money within a full digital economy, noting that ETH settles 74% of decentralized exchange trades and backs 21% of on-chain lending. The report values ETH as a $100 trillion asset currently trading at around $316 billion to $335 billion, underscoring a substantial gap between market capitalization and its perceived economic utility. Traditional finance analysts are increasingly valuing ETH as a treasury asset with yield potential and a reserve asset of the on-chain dollar economy. Additionally, the impending GENIUS Act, which aims to ban yield-bearing stablecoins offering interest-like returns, is seen as a catalyst for ETH’s price appreciation by reducing competition from centralized yield coins and enhancing the attractiveness of Ethereum-based decentralized finance. This legislative development has also prompted Ethereum ETFs to position themselves proactively. Furthermore, Ethereum is viewed as a comprehensive crypto index fund, representing investments in major entities like Worldcoin, Coinbase, and Sony, illustrating its broader influence on the future of banking and finance.