**[Ethereum 2025 Year-End Summary: Moving Towards Global Infrastructure]**
Renaissancing, a member of the Ethereum Foundation, released the 2025 year-end summary, highlighting that Ethereum has transitioned from an "experimental network" to global infrastructure relied upon by financial institutions, developers, and AI systems.
At the protocol level, two hard forks, Pectra and Fusaka, were completed, driving the implementation of account abstraction, scalability, and cost optimization, along with three increases to the Gas limit. The U.S. SEC issued staking compliance guidelines, clarifying Ethereum's non-security status; sanctions on Tornado Cash were lifted, with privacy contracts receiving judicial support.
Institutional applications have been fully implemented: JPMorgan launched a tokenized money market fund, BlackRock's BUIDL reached nearly $3 billion in scale, and Ethereum spot ETFs now manage $28.6 billion in assets. Layer 2 total value locked (TVL) reached $35.7 billion, while DeFi TVL rose to $93.9 billion.
ERC-8004 established the AI Agent standard, positioning Ethereum as the core settlement layer for the AI economy. The number of developers continues to grow, with global activities spanning multiple regions.