Ethereum Price Surges 86.7% in Three Months Amid Staking ETF Approval Hopes

Ethereum (ETH) is on the cusp of a potential major surge, with the catalyst being the approval of staking within exchange-traded funds (ETFs), according to Eric Jackson, the founder of EMJ Capital. Jackson predicts that ETH could reach $10,000 by the end of the current cycle, driven by the anticipated greenlighting of staking within ETFs.

Jackson argues that while the market has already priced in the impact of spot Ethereum ETFs, the true game-changer will be the approval of staking. This transformation, he believes, will attract significant passive capital inflows from traditional finance, providing institutions with a real yield as high as 3.5% and dramatically increasing the demand to stake ETH. The resulting decrease in circulating supply would compound Ethereum’s existing deflationary tokenomics, potentially creating a structural supply crunch and revaluing Ethereum’s status.

Jackson’s analysis suggests that the ETH network is underpriced, generating real revenue. Once staking approval comes in, ETH will no longer be just “digital oil” but will become an “institutional-grade yield product.” In this scenario, he estimates ETH will reach $10,000 by the end of the current cycle and could even surpass $15,000. Jackson’s base case is that ETH will hit $10,000 by the end of this cycle, with a bull case of $15,000+ if layer 2 adoption and ETF inflows exceed expectations on the new staking approval expected before October.

Jackson’s prediction has faced pushback, with some pointing out that Ethereum wouldn’t be the first U.S.-listed staking crypto ETF. Critics also question Ethereum’s technical foundation, labeling the network as burdened by legacy tech debt. However, Jackson remains optimistic, envisioning a future where ETH becomes the dominant transactional layer for crypto-commerce, potentially taking it to $1.5 million per token over time.

Despite the skepticism, ETH has shown impressive gains, trading around $3,045 at the time of this writing. The price reflects a modest 2% uptick in the last 24 hours, a 19.5% gain in the past week, a 23.8% increase in two weeks, and an 86.7% surge across the last three months. Jackson’s analysis highlights the growing use of the Ethereum network by major companies, which could further drive ETH’s price to unprecedented heights.