{"id":13911,"date":"2024-12-18T08:53:44","date_gmt":"2024-12-18T08:53:44","guid":{"rendered":"https:\/\/www.btse.com\/blog\/?p=13911"},"modified":"2024-12-19T06:16:19","modified_gmt":"2024-12-19T06:16:19","slug":"why-institutional-giants-like-blackrock-are-betting-on-ethena","status":"publish","type":"post","link":"https:\/\/www.btse.com\/blog\/why-institutional-giants-like-blackrock-are-betting-on-ethena\/","title":{"rendered":"Why Institutional Giants like BlackRock Are Betting on Ethena (ENA)"},"content":{"rendered":"<p><span style=\"font-family: inter; font-size: 14pt;\"><span style=\"font-weight: 400; color: #000000;\">Ethena Labs has been the subject of much buzz, and recently, its token surged by <\/span><a href=\"https:\/\/cryptobriefing.com\/usd-tb-stablecoin-backed-blackrock\/\" target=\"_blank\" rel=\"noopener\"><strong>+25%<\/strong><\/a><span style=\"font-weight: 400; color: #000000;\"> this past weekend.<\/span><\/span><\/p>\n<p><span style=\"font-weight: 400; font-family: inter; font-size: 14pt; color: #000000;\">We take a deeper look at Ethena\u2019s recent developments and see if there\u2019s still an upside left with this DeFi leader.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-weight: 400; font-family: inter; font-size: 18pt; color: #000000;\">Ethena Just Launched a New Stablecoin\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400; font-family: inter; font-size: 14pt; color: #000000;\">At the core of Ethena\u2019s growth story is USDtb\u2014a stablecoin launched on Dec. 16 and backed 1:1 by U.S. Treasury bills and short-term government debt through BlackRock\u2019s tokenized BUIDL fund, which is built on Ethereum. BUIDL investors receive yield in exchange for their money.<\/span><\/p>\n<p><span style=\"font-weight: 400; font-family: inter; font-size: 14pt; color: #000000;\">Designed to protect USDe, Ethena&#8217;s flagship synthetic stablecoin, USDtb acts as a financial safety net during market turbulence. With high-risk strategies like shorting BTC, ETH, and SOL perpetual futures, USDtb stabilizes USDe and mitigates losses when things go awry.<\/span><\/p>\n<p><span style=\"font-family: inter; font-size: 14pt;\"><span style=\"font-weight: 400; color: #000000;\">This is a major example of institutional support for decentralized finance.<\/span><strong><a href=\"https:\/\/cryptoslate.com\/ethena-labs-launches-stablecoin-backed-by-blackrocks-tokenized-fund-shares\/\" target=\"_blank\" rel=\"noopener\"> BlackRock\u2019s backing<\/a><\/strong><span style=\"font-weight: 400; color: #000000;\">, alongside Securitize\u2019s role in<\/span><strong><a href=\"https:\/\/www.coindesk.com\/markets\/2024\/12\/16\/ethena-rolls-out-stablecoin-backed-by-black-rocks-buidl-token\" target=\"_blank\" rel=\"noopener\"> issuing<\/a><\/strong><span style=\"font-weight: 400; color: #000000;\"> USDtb, marks a shift in how real-world assets (RWAs) are tokenized and integrated into the DeFi world.\u00a0<\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400; font-family: inter; font-size: 18pt; color: #000000;\">Ethena\u2019s Numbers at a Glance<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-family: inter; font-size: 14pt;\"><a href=\"https:\/\/www.coindesk.com\/markets\/2024\/12\/16\/ethena-rolls-out-stablecoin-backed-by-black-rocks-buidl-token\" target=\"_blank\" rel=\"noopener\"><b>$6 billion<\/b><\/a><span style=\"font-weight: 400; color: #000000;\"> raised in user funds since early 2024<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-family: inter; font-size: 14pt;\"><span style=\"font-weight: 400; color: #000000;\">USDe has become the<\/span><a href=\"https:\/\/thedefiant.io\/news\/defi\/ethena-s-usde-flips-dai-to-become-third-largest-stablecoin\" target=\"_blank\" rel=\"noopener\"> <b>third-largest stablecoin<\/b><\/a><span style=\"font-weight: 400; color: #000000;\">, with a $5.6 billion market cap<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-family: inter; font-size: 14pt;\"><a href=\"https:\/\/cryptoslate.com\/ethena-labs-launches-stablecoin-backed-by-blackrocks-tokenized-fund-shares\/\" target=\"_blank\" rel=\"noopener\"><b>27%<\/b><\/a> <span style=\"font-weight: 400; color: #000000;\">APY for USDe stakers<\/span><\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400; font-family: inter; font-size: 18pt; color: #000000;\">Why ENA?<\/span><\/p>\n<p><span style=\"font-weight: 400; font-family: inter; font-size: 14pt; color: #000000;\">Ethena\u2019s governance token, ENA, allows holders to directly influence the protocol\u2019s future. As the platform expands, ENA\u2019s role becomes increasingly valuable in shaping the strategic direction and enabling community-driven decision-making.<\/span><\/p>\n<p><span style=\"font-weight: 400; font-family: inter; font-size: 14pt; color: #000000;\">ENA represents a unique opportunity in the DeFi space, allowing participants to participate in a new financial paradigm that bridges traditional finance and decentralized ecosystems. With institutional capital flowing in and the DeFi sector maturing, ENA\u2019s utility and value continue to grow.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400; font-family: inter; font-size: 18pt; color: #000000;\">The Unexpected Twist<\/span><\/p>\n<p><span style=\"font-family: inter; font-size: 14pt;\"><span style=\"font-weight: 400; color: #000000;\">Here\u2019s an unexpected turn in ENA\u2019s story: World Liberty Financial, a project with ties to Donald Trump\u2019s network, also made a<\/span><a href=\"https:\/\/x.com\/spotonchain\/status\/1868073696663122207\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\"><strong> $500K<\/strong><\/span><\/a><span style=\"font-weight: 400; color: #000000;\"> investment in ENA this past week.\u00a0<\/span><\/span><\/p>\n<p><span style=\"font-family: inter; font-size: 14pt; color: #000000;\"><span style=\"font-weight: 400;\">This investment is what partly sparked a <\/span><b>25%<\/b><span style=\"font-weight: 400;\"> surge in ENA\u2019s price over the weekend, drawing significant mainstream attention to the project and expanding its visibility among other investors.<\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400; font-family: inter; font-size: 18pt; color: #000000;\">Don\u2019t Miss Out!<\/span><\/p>\n<p><span style=\"font-weight: 400; font-family: inter; font-size: 14pt; color: #000000;\">With BlackRock\u2019s backing, impressive growth in user funds, and strong potential, ENA is poised for even greater success in the months to come.\u00a0<\/span><\/p>\n<p><span style=\"font-family: inter; font-size: 14pt;\"><span style=\"font-weight: 400; color: #000000;\">From a snippet of their roadmap<\/span><a href=\"https:\/\/mirror.xyz\/0x29a99F7Fe080F72223dAd48D5E1E86670a984326\/odrjQynMr3PrtRhCzHa2k7tcdNIpibJLyRe7yXY944Q\" target=\"_blank\" rel=\"noopener\"> <span style=\"font-weight: 400;\"><strong>blog post<\/strong><\/span><\/a><span style=\"font-weight: 400;\"> b<span style=\"color: #000000;\">ack in May:<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: inter; font-size: 14pt; color: #000000;\"><b>\u201cWhile the core product is a synthetic dollar, Ethena can also be viewed through the lens of an interest rate arbitrage vehicle which forces the convergence between disparate rates across DeFi, CeFi, and TradFi, with USDe simply being the balancing item that ties it all together.\u201d\u00a0<\/b><\/span><\/p>\n<p><span style=\"font-weight: 400; font-family: inter; font-size: 14pt; color: #000000;\">Whether you\u2019re an investor, a crypto enthusiast, or simply someone keeping an eye on the space, one thing is clear: ENA is a token you won&#8217;t want to miss.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family: inter; font-size: 14pt;\"><span style=\"font-weight: 400; color: #000000;\">Trade ENA on BTSE<\/span><strong><a href=\"https:\/\/www.btse.com\/en\/trading\/ENA-USDT\" target=\"_blank\" rel=\"noopener\"> now<\/a><\/strong><span style=\"font-weight: 400; color: #000000;\">! You can also invest in ENA through our brand-new AutoTrader platform <\/span><strong><a href=\"https:\/\/www.btse.com\/en\/autotrader?utm_source=blog&amp;utm_medium=1&amp;utm_campaign=0003123607\" target=\"_blank\" rel=\"noopener\">here<\/a><\/strong><span style=\"font-weight: 400; color: #000000;\">.<\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400; font-family: inter; font-size: 18pt; color: #000000;\">Follow Ethena Labs<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-family: inter; font-size: 14pt;\"><a href=\"https:\/\/ethena.fi\/\"><span style=\"font-weight: 400;\">Website<\/span><\/a><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-family: inter; font-size: 14pt;\"><a href=\"https:\/\/x.com\/ethena_labs\"><span style=\"font-weight: 400;\">X (Formerly Twitter)<\/span><\/a><span style=\"font-weight: 400;\">\u00a0<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-family: inter; font-size: 14pt;\"><a href=\"https:\/\/discord.com\/invite\/ethena\"><span style=\"font-weight: 400;\">Discord<\/span><\/a><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-family: inter; font-size: 14pt;\"><a href=\"https:\/\/t.me\/ethena_labs\"><span style=\"font-weight: 400;\">Telegram<\/span><\/a><\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><i>Our aim is to create a platform that offers users the most enjoyable trading experience. If you have any feedback, please reach out to us at\u00a0<\/i><a href=\"mailto:support@btse.com\"><i>support@btse.com<\/i><\/a><i>\u00a0or on X\u00a0<\/i><a href=\"https:\/\/x.com\/BTSE_Official\"><i>@BTSE_Official<\/i><\/a><i>.<\/i><\/p>\n<p><i>Disclaimer: BTSE blog content is intended solely to provide varying insights and perspectives. It does not constitute financial, legal, or investment advice and should not be relied upon as such. The views expressed are not necessarily those of BTSE. Unless otherwise noted, they do not represent the views of BTSE and should in no way be treated as investment advice. Trading involves substantial risk due to market volatility, and past performance is not indicative of future results. Always trade with caution and consider seeking advice from a qualified professional before making any financial decisions.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethena Labs has been the subject of much buzz, and recently, its token surged by +25% this past weekend. We take a deeper look at Ethena\u2019s recent developments and see if there\u2019s still an upside left with this DeFi leader. &nbsp; Ethena Just Launched a New Stablecoin\u00a0 At the core of Ethena\u2019s growth story is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13929,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9],"tags":[362,363],"class_list":["post-13911","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","tag-ena","tag-ethena-labs"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Why Institutional Giants like BlackRock Are Betting on Ethena (ENA) &#8212; BTSE Blog<\/title>\n<meta name=\"description\" content=\"ENA has been the subject of much buzz; we take a deeper look at recent developments and see if there\u2019s still an upside left. 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