Wall Street can use tokenized assets without choosing $ETH to back its trades. That distinction matters to Vitalik Buterin’s November 8 case for holding $ETH: BlackRock’s dollar fund BUIDL lets eligible institutions post yield-bearing fund tokens as collateral instead.
Writing as @VitalikButerin, he argued that $ETH’s monetary properties deserve more attention than valuation through fee burn. BUIDL’s established collateral framework with OKX and Standard Chartered describes a route for eligible clients to support trading with yield-bearing fund claims rather than $ETH.
@VitalikButerin explicitly supported keeping EIP-1559 and its burn. His argument shifts the emphasis of $ETH’s value proposition.
