Bullish on ETHFI restaking protocol expansion

After Thursday’s release, $ETHFI is starting to look like one of the more interesting setups in the market. The TLDR: → Restaking protocol → full neobank. Etherfi Summer added tokenized stocks + metals, an Aave-powered borrow market on Optimism, 30+ fiat currencies, and 3% cashback on the Cash card. → Buybacks are now programmatic. Revenue from products across the ecosystem can automatically flow into $ETHFI buybacks, rather than relying on discretionary treasury purchases. → $2.93M in protocol revenue over the last 30 days, up 3.7%, from $11.4M in fees. That’s roughly a 25.6% take rate and a ~$35M annualized run-rate before Summer’s new card, lending, and FX revenue is accounted for. → $ETHFI now has more utility. It’s one of just four launch collateral assets in @EtherFi's Aave market alongside $ETH, $BTC, and $HYPE. The market is starting to notice, with the $ETHFI price +26.6% in 7d, TVL +11.1% in 30d, and market cap +21.8% over the same period. And despite that move, $ETHFI still sits roughly 94.6% below its $8.53 ATH. If the new products drive revenue and that revenue increasingly feeds buybacks, the setup gets pretty interesting from here.