Ethereum News Today: Ethereum Outperforms Bitcoin as Institutional Adoption Drives ETF Inflows, 55% Project New High

Mike Novogratz, CEO of Galaxy Digital, has outlined a bullish but nuanced outlook for Bitcoin and Ethereum, forecasting Bitcoin could reach $150,000 this year while Ethereum may outperform BTC in the near term. Speaking to CNBC, Novogratz highlighted institutional adoption as a key driver, noting that Ethereum’s narrative strength and utility position it to outperform Bitcoin in the coming three to six months. At $3,730 per coin, ETH remains 24% below its 2021 high of $4,878 but has rebounded significantly from its 2023 lows [1].

Novogratz attributed Ethereum’s potential to its growing institutional demand, with publicly traded firms increasingly adopting the asset. Companies like Nasdaq-listed BitMine Immersion and SharpLink Gaming have amassed $2 billion and $1.3 billion in ETH, respectively, through treasury strategies inspired by MicroStrategy’s Bitcoin playbook. This shift, he argued, reflects confidence in Ethereum’s blockchain upgrades and enterprise applications [1].

The surge in ETH demand is also evident in ETF inflows. SEC-approved Ethereum exchange-traded funds recorded $726 million in net inflows in a single day last week—their highest 24-hour total since launch—and added over $2.1 billion in a week [1]. Surveys, including one by Myriad (a product of Decrypt’s parent company), suggest 55% of respondents anticipate ETH exceeding its 2021 peak by year-end [1].

For Bitcoin, Novogratz reiterated a $150,000 target for 2024, citing its recent all-time high of $122,838 and current price of $118,628. While Bitcoin’s long-term fundamentals remain robust, Novogratz emphasized Ethereum’s short-term advantages, including regulatory clarity in derivatives and ETFs, and a more dynamic use-case ecosystem. This divergence, he noted, could see ETH outpace BTC in the near term as institutional capital prioritizes utility and scalability [1].

The analysis underscores contrasting narratives in the crypto market. Bitcoin’s scarcity and store-of-value narrative continue to anchor its appeal, but Ethereum’s ecosystem of upgrades—such as the Dencun hard fork—and corporate adoption have generated momentum. Sustained ETF inflows and treasury purchases signal shifting risk appetites, with investors favoring assets demonstrating technical progress and institutional validation. However, outcomes will depend on regulatory stability and market confidence [1].

Source: [1] [Decrypt] [https://decrypt.co/331711/bitcoin-could-hit-150k-this-year-mike-novogratz-ethereum-outperform]

[2] [TylerD/X] [https://x.com/tyler_did_it?lang=en]