Ethereum has implemented 28 significant upgrades, enhancing its capabilities in institutional finance, AI, governance, and public infrastructure. Key developments include Fidelity Digital Assets launching FIDD, a U.S. dollar stablecoin on Ethereum, and Morgan Stanley proposing a spot Ethereum ETF. Ondo Finance expanded its tokenized offerings to over 200 equities, while Aave integrated with Balance for institutional yield services. Thedaofund activated 75,000 ETH to bolster network security. AI advancements featured the launch of ERC-8004, a new standard for AI agents, with over 24,000 agents registered. Worldcoin released a redesigned app for human verification in AI environments, and Allora launched predictive AI signals on Base. The Ethereum Foundation initiated a post-quantum cryptography research team to address future security challenges. Ethereum's Layer 1 activity reached new highs, with the BPO2 fork enhancing data availability. Layer 2 networks like Arbitrum and Optimism rolled out upgrades, while Polygon exceeded $1 billion in daily USDC payments. Developer tools and infrastructure also advanced, with Zapper and Jumper launching new features.