What institutions need before they can move.

Six requirements, drawn from what institutions ask us rather than from what we would prefer to answer. Each carries the evidence it stands on, and the date we last checked it.

Structured assessments of what Ethereum supports today. They are not certifications, endorsements or approvals of any provider, and they carry no warranty you may rely on. Where our own evidence is thin we say so in the entry rather than rounding up.

Can we hold and administer this the way we hold everything else?

Qualified custody, fund administration and in-kind creation are available from named providers under existing mandates.

27 deployments bear on this // verified 23 Aug 2026

27 deployments bear on this // verified 23 Aug 2026 // the record in full

Can we stake without taking on concentration risk we cannot explain?

Staking access exists and rewards are treated as non-securities. Validator concentration and governance are not settled, and our own evidence here is absent rather than thin: the staking workstream did not complete.

6 deployments bear on this // verified 23 Aug 2026

6 deployments bear on this // verified 23 Aug 2026 // the record in full

Do we know what this instrument is, legally, in every venue we operate?

ETH is a digital commodity in the United States and stablecoin law is in force. Market-structure legislation stalled, and jurisdictions are diverging.

46 deployments bear on this // verified 23 Aug 2026

46 deployments bear on this // verified 23 Aug 2026 // the record in full

Can we keep a position confidential on a public ledger?

The most consequential open question institutions put to us. Selective-disclosure work is underway across the ecosystem. Nothing is production-settled today, and we would need to see it running in a regulated deployment before we said otherwise.

7 deployments bear on this // verified 23 Aug 2026

7 deployments bear on this // verified 23 Aug 2026 // the record in full

Which network do we settle on, and how do we get out?

More than a hundred networks and no neutral selection framework. Our own record shows institutional issuance concentrated on mainnet, with layer twos carrying stablecoin float rather than funds.

12 deployments bear on this // verified 23 Aug 2026

12 deployments bear on this // verified 23 Aug 2026 // the record in full

Who is the counterparty when there is no counterparty?

An ownerless system meeting procurement built for vendors. Six organisations can take your first call, and our own unincorporated status is part of this problem, not outside it.

42 deployments bear on this // verified 23 Aug 2026

42 deployments bear on this // verified 23 Aug 2026 // the record in full

The deployment record these counts are drawn from