Ethereum Slips Below $2,000 as Institutional Adoption Accelerates Despite EF Shakeup

Ethereum traded below $2,000 for the first time since March 29 amid ongoing Ethereum Foundation restructuring. After Aya Miyaguchi’s June 2 remarks narrowing the Foundation’s mandate and noting high-profile exits, the June 4 update highlights institutional moves including Sharplink’s $125 million DeFi yield fund with Galaxy Digital and Fundstrat staking 80% of holdings. On-chain metrics show record usage and fees at all-time lows while the Foundation’s ETH stake fell to 0.16%, supporting a bullish structural outlook even as near-term price sentiment stays mixed.