Ethereum vs M2 Money Supply
Since 2017, Ethereum has shown a nominal return of +1,037.4%, while M2 money supply has grown by +61.2%. When adjusted for M2 money supply expansion, Ethereum's real return is +605.4%.
Key Insights
Ethereum has returned +1,037.4% nominally since 2017, with +605.4% when adjusted for M2 money supply expansion. While Ethereum has shown real value growth, approximately 41.6% of the nominal return can be attributed to monetary expansion.
Performance Summary
Period: November 13, 2017 to November 3, 2025
What This Means
Ethereum has significantly outperformed M2 money supply expansion, indicating strong real value appreciation. This suggests the asset has generated genuine wealth beyond what can be explained by monetary expansion alone.
Adjusting stock performance for M2 money supply expansion reveals how much of price appreciation is due to monetary policy versus real value growth. This perspective helps investors understand whether an asset is generating genuine wealth or simply keeping pace with money supply growth.