- EMJ Capital founder believes Ethereum could eventually reach $1.5 million per token, driven by ETF staking approval, institutional adoption, and growing blockchain-based commerce.
- He argues the market has vastly undervalued ETH’s deflationary potential and sees a 10x to 100x price surge as entirely possible in the coming years.
The Founder of EMJ Capital has made a bold statement targeting the second largest cryptocurrency by market cap. In a series of posts on the X platform, Eric Jackson noted that Ethereum ” could one day soar to a staggering $1.5 million per token.”
This statement, according to Eric stems from the idea that the market has severly underalued Ethereum’s potential, with key catalysts still drawing closer.
Ethereum’s Undervalued Network
Jakson dived deeper into his case suggesting that Ethereum is “quietly becoming the dominant rail system to transact in crypto,” adding that its deflationary economic structure further boosts its long-term value. Notably, major financial institutions are increasingly relying on Ethereum for infrastructure and transactions.
As ETHNews has earlier reported, major institutions are ditching Bitcoin for Ethereum, with the recent firm being SharpLink Gaming (SBET.) The Nasdaq-listed betting technology company, acquired 21,487 ETH alued at $64.26 million.
It is also worth mentioning that Institutional Ethereum holdings now exceed 1M ETH and counting across corporations, DAOs, and government entities.
Returning to financial statements related to Jackson, the founder highly believes that network is in abig way underpriced.
Staking ETF: The Real Catalyst
Jackson promptly drew a distinction between Bitcoin and Ethereum spot ETFs. While ETH ETFs were launched in July 2024, differing from BTC ETFs which were launched abit ealrier in January the same year.
It is evident that ETH ETF have lagged behind Bitcoin ETFs. According to the figures, $1.41 billion compared to Bitcoin’s $6.9 billion. However, Jackson insists that the market hasn’t priced in the real game-changer: ETF products that include ETH staking.
“The real catalyst is still ahead,” he noted. “Once ETH becomes a productive, staked asset within an ETF wrapper, it will attract institutional investors hunting for yield.”
Jackson expects the U.S. SEC to approve staking-based ETH ETFs before October, which he says would kick off a “10-bagger plus move” over the coming years. The staking mechanism would also reduce circulating supply, boosting Ethereum’s scarcity and deflationary nature.
Institutional Adoption and the Road to $1.5 Million
Jackson pointed to the latest of Ethereum’s intergratioms with major firms including Coinbase, Shopify Robinhood as the ETHNews press has reported. Having that the aforementioned firms are intergrated with the Ethereum network, commerce shifyts towards blockchain based platforms is increasing. With that in mind, ETH stands to benefit immensely.
It is also woth putiing it out that Corporate Treasuries are highly embracing Ethereum strategy. One notable example is BlackRock, which has accumulated $4.38 billion in Ethereum through its investment vehicles. This position represents nearly half of all tracked institutional exposure to the cryptocurrency.
BlackRock now holds $4.38 billion worth of $ETH
That's a 42.8% market share!The institutions are here, and they’re going big on Ethereum. 👀 pic.twitter.com/xVbxLUNIjo
— Ak47♛ (@HolaItsAk47) July 6, 2025
Another example is World Liberty Financial which has concentrated 95% of its $181.7 million portfolio in Ethereum tokens. The allocation amounts to $173.3 million, demonstrating extreme confidence in the asset’s long-term prospects.
“If this conversion to ETH commerce truly happens (and I believe it will), then ETH goes to $1.5 million over time,” Jackson declared.
This shift, he explained, hinges on the belief that a portion of global commerce will transition from fiat currencies to crypto-based rails, anchored by Ethereum.
EMJ Capital’s base-case scenario sees ETH reaching $10,000 by the end of the current market cycle, projected to conclude by March 2026. In a more bullish outlook, the token could surge to $15,000—driven by unexpected adoption of layer 2 solutions and the upcoming staking ETF approval.
Jackson emphasized that his forecast doesn’t even factor in possible breakouts in decentralized finance (DeFi), stablecoins, or growth from layer 2 networks like those of Robinhood and Coinbase.
“With those elements in play,” he added, “ETH becomes a 100-bagger.”
As of now, Ether is trading at approximately $3,040, up 2.8% in the past 24 hour.
