by On a recent Sunday, Eric Jackson, founder and president of Toronto-based hedge fund EMJ Capital, took to X to share his bullish outlook on Ethereum (ETH). In the thread, he articulated the reasons his firm believes the market has significantly underestimated the potential of ETH, particularly with the upcoming approval of staking for ETH exchange-traded funds (ETFs) anticipated by October 2025.
The Game-Changer: Staking Approval for ETH ETFs
Jackson argues that the prospective approval of staking for ETH ETFs is not merely another regulatory milestone but rather a vital catalyst for Ethereum’s price growth. Unlike the already approved ETH ETFs, which have not drastically impacted prices, the introduction of staking could transform ETH into a yield-generating asset that attracts institutional investors. This shift towards institutional demand is crucial for Ethereum’s future value.
Understanding the Supply Dynamics of Ethereum
Jackson’s analytical model predicts a supply crunch for ETH driven by multiple factors, including the anticipated increase in institutional demand and the reduction of circulating supply. He argues that the influx of passive investment flows from traditional finance will complement Ethereum’s already deflationary tokenomics post-merge. This means that as more ETH is staked, the available supply in the market decreases, potentially leading to a significant increase in value.
Real-World Asset Tokenization and Layer-2 Solutions
Further adding to the bullish sentiment, Jackson highlights the growing transaction fees from layer-2 solutions and the rise of real-world asset (RWA) tokenization. These developments enhance Ethereum’s utility and revenue-generating potential, positioning it as an undervalued network. Rather than being viewed purely as a speculative asset, Jackson believes ETH is on its way to becoming an institutional-grade yield product.
Price Projections: ETH’s Path to $10,000 and Beyond
In his analysis, Jackson posits a conservative estimate of ETH reaching $10,000 by the end of the current market cycle. If layer-2 adoption and ETF inflows exceed expectations, a more optimistic scenario could see ETH hitting $15,000 or even higher. This projection comes at a time when Bitcoin captures much of the market’s attention, recently surpassing $120,000, while Ethereum quietly establishes itself as a critical infrastructure for crypto transactions.
Comparative Analysis: Ethereum vs. Bitcoin
Jackson expressed skepticism about the common analogy that likens Ethereum to “digital oil.” Instead, he suggests that Ethereum’s role as a foundational platform for commerce in a crypto-driven economy aligns it more closely with major companies like Circle, Coinbase, Shopify, and Robinhood. This comparison underscores Ethereum’s potential to become a cornerstone of digital finance.
Institutional Moves: SharpLink Gaming’s ETH Acquisition
In a noteworthy development, Nasdaq-listed SharpLink Gaming (SBET) recently announced that it has become the largest corporate holder of ether globally, surpassing even the Ethereum Foundation. Between July 7 and July 13, 2025, SharpLink acquired approximately 74,656 ETH for roughly $213 million, at an average price of $2,852 per ETH. This aggressive acquisition strategy, funded partly by raising $413 million through the sale of 24.5 million shares, emphasizes the firm’s commitment to making ETH its primary treasury reserve asset.
Staking Rewards and ETH Concentration
SharpLink disclosed that about 99.7% of its ETH holdings are actively staked, generating around 415 ETH in staking rewards since launching its ETH-focused treasury strategy on June 2, 2025. Additionally, the company reported a 23% increase in its proprietary “ETH Concentration” metric since June 13, reflecting greater ETH exposure per share. This strategic positioning aligns with Chairman Joseph Lubin’s vision to leverage Ethereum’s utility in decentralized finance and blockchain infrastructure.
Technical Analysis: ETH-USD Volatility
According to CoinDesk Research’s technical analysis, the ETH-USD pair exhibited significant volatility over a recent 24-hour period, establishing a trading corridor of $132.08. The session was marked by sustained bearish pressure during overnight hours, with ETH dropping from $3,013.65 to a daily low of $2,933.50. However, a notable surge took place during the closing hour, with ETH rallying from $3,000.02 to $3,051.89, gaining $51.87 within a single hour, indicating robust institutional positioning.
Future Outlook for Ethereum
As the crypto market continues to navigate fluctuations, with Bitcoin’s price experiencing profit-taking from recent highs, Ethereum’s resilience is noteworthy. The stability of ETH, down only 0.6% in the past 24 hours at the time of writing, may be attributed to institutional support like that from SharpLink Gaming. As developments unfold, Jackson’s firm remains bullish on ETH, holding a long position in the $ETHA ETF and planning to update its model with new insights.
In conclusion, Eric Jackson’s insights into Ethereum and its projected trajectory highlight the asset’s potential to evolve into a yield-generating powerhouse, attracting institutional investment and redefining its role in the cryptocurrency ecosystem.
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Explore Eric Jackson’s bullish outlook on Ethereum (ETH) as he predicts it could soar to $10,000 by 2025. Learn about the impact of staking ETFs, institutional demand, and market dynamics driving ETH’s future.
