Ethereum Could Surge 100x to $1.5 Million on ETF Staking Approval

EMJ Capital founder Eric Jackson has made a bold prediction regarding the future value of Ethereum (ETH). According to Jackson, the approval of Ether staking exchange-traded funds (ETFs) in the United States could trigger a significant rally, potentially increasing the value of ETH by more than 100 times and eventually reaching $1.5 million per token. This prediction is based on the belief that the ETH network is currently underpriced and that its deflationary economics make it a strong candidate for long-term growth.

Jackson's analysis suggests that the ETH network is becoming the dominant platform for transacting in cryptocurrency. He points to the potential approval of ETH ETFs that feature staking as a key catalyst for this growth. The US Securities and Exchange Commission is expected to approve ETH products that include staking this year, which could further drive demand for the cryptocurrency. Jackson believes that the real catalyst for ETH's price increase is the approval of staking, which is expected before October. Once ETH becomes a productive, staked asset within an ETF wrapper, it will no longer be just a digital commodity but an institutional-grade yield product.

The approval of ETH staking ETFs is not yet priced into the market, according to Jackson. He argues that many investors wrongly believe that ETH has already priced in the approval of US ETFs, as they have been less successful compared to Bitcoin (BTC) ETFs. However, Jackson believes that the real value of ETH will be realized once staking is approved, as it will compound the cryptocurrency's deflationary tokenomics by reducing its circulating supply.

Jackson also highlights the growing use of the Ethereum network by major companies as a factor that could drive ETH's price to $1.5 million. Companies such as Circle Internet Group, Coinbase, Shopify, and Robinhood all use or grant their users access to the Ethereum network. If these companies continue to grow and more commerce moves to the Ethereum network, Jackson believes that ETH could reach $1.5 million over time.

EMJ Capital's base case for ETH is that it will hit $10,000 by the end of the current cycle, which is typically thought of in four-year blocks and puts the current bull run as ending in March 2026. However, Jackson's bull case for ETH is that it could hit $15,000, on the condition that adoption of layer 2 blockchains and ETH inflows beat expectations on the new staking approval expected before October. Jackson's prediction does not assume any breakouts in decentralized finance, stablecoins, or higher use of Robinhood and Coinbase’s layer 2 networks. However, if these factors are added, ETH could become a "100-bagger," meaning its value could increase by 100 times.