The church in Ephesus had some issues. The Jews there felt pride for what they had, lineage and circumcision. This passage makes it clear that they received God’s grace because of Jesus’ blood. The Gentiles in Ephesus weren’t looking for a Messiah of any sorts, and so they were found to be without hope. However, in Christ Jesus they (and we!) who were once far off and alienated from God, have been brought near to Him and given hope.