Ether.fi CEO: Neobanks, Not ETFs, Will Drive Ethereum’s 2026
Mike Silagadze bets on consumer-facing ‘crypto neobanks’ to outpace ETFs as the primary driver of Ethereum adoption in 2026.
Ethereum’s next major cycle will leverage consumer banking interfaces rather than institutional rails, according to Ether.fi CEO Mike Silagadze. In a statement reported by CoinDesk, Silagadze argued that 2026 growth depends on “financial products that feel familiar to everyday users,” signaling a departure from the speculative mania that characterized previous bull runs.
Markets reacted modestly to the strategic pivot. Ether (ETH) held steady at $3,135 (+0.7%), while Ether.fi’s governance token (ETHFI) climbed 3% to $0.78.
The Utility Pivot
The core thesis suggests a decoupling from pure asset accumulation (ETFs) toward transactional velocity (Neobanks). While spot ETFs from BlackRock and Fidelity successfully secured institutional capital, they fail to generate on-chain activity. Silagadze positions crypto-native neobanks as the solution: platforms that combine high-yield DeFi backends with self-custodial, spending-focused front ends.
The crypto neobank movement appears to be a rapidly growing trend… better positioned than ETFs to expose users to onchain activity and yield.
Infrastructure vs. Interface
Ether.fi has already begun this transition with “Ether.fi Cash,” a product integrating a non-custodial wallet with a Visa card on the Scroll Layer 2 network. This allows users to borrow against liquid staking tokens (eETH) or spend yields directly, bypassing the friction of centralized exchange off-ramps.
This marks a maturation point for the sector. The 2024-2025 cycle focused on restaking infrastructure (EigenLayer); the 2026 outlook targets the application layer. By embedding stablecoins into global finance rails, neobanks aim to force Ethereum adoption through utility rather than speculation.
