21Shares: Ethereum is like Amazon in the 1990s

Ethereum has so far disappointed in this bull market. But 21Shares analysts continue to believe in its long-term potential.

According to 21Shares analysts, Ethereum today is comparable to Amazon in the 1990s. "Just as Amazon evolved from a bookstore to a company that redefined entire industries, Ethereum could surprise us in the future with revolutionary applications we cannot imagine today," says Federico Brokate, vice president and head of the business unit at 21Shares, in an interview with Cointelegraph.

Amazon grew into a billion-dollar company in the 2000s and today is among the most successful companies in the world. Analysts stress that only a handful of people understand Ethereum's true potential. Even on Wall Street, with few exceptions, there is largely ignorance about its potential.

Ethereum began in 2015 as a simple platform for smart contracts and has since grown into the world's second-largest cryptocurrency. It offers a wide range of applications, including Decentralized Finance (DeFi). The value of decentralized apps in this sector is as high as $140 billion, according to Cointelegraph.

An Ethereum Spot ETF was launched on Wall Street this year, but fell far short of prediction. Meanwhile, large asset managers such as BlackRock are developing successful applications on the Ethereum blockchain. 21Shares is a well-known crypto investment platform, with its own team of analysts.