“ETH to $10K Is in Sight,” Says EMJ Capital President

EMJ Capital’s Eric Jackson Sees Ether Surging to $10,000 in Current Bull Cycle

Eric Jackson, founder and president of Toronto-based hedge fund EMJ Capital, believes ether (ETH) could soar to $10,000 in this bull market, driven by shifting fundamentals and institutional interest.

In a detailed post on X on Sunday, Jackson outlined why his firm is so bullish on ETH. He argued that the market is underestimating the impact of potential approval for staking-enabled ETH exchange-traded funds (ETFs), which he expects could arrive by October 2025. While spot ETH ETFs have already launched, Jackson sees the introduction of staking as a far bigger catalyst, transforming ETH into a yield-generating asset that could attract significant institutional inflows.

Jackson said EMJ Capital’s models forecast a supply crunch as staking reduces circulating supply, while institutional demand and passive investment from traditional finance increase. He highlighted Ethereum’s deflationary tokenomics after the Merge, rising transaction fees from layer-2 networks, and the growing adoption of real-world asset (RWA) tokenization as powerful forces that could push ETH significantly higher.

“Ethereum isn’t just a speculative asset; it’s producing real revenue and positioning itself as an institutional-grade yield product,” Jackson explained. EMJ Capital projects a base target of $10,000 for ETH in the current cycle, with potential upside to $15,000 or more if ETF adoption and layer-2 usage exceed expectations.

Despite bitcoin grabbing headlines as it trades above $120,000, Jackson noted that Ethereum is steadily establishing itself as a crucial backbone for blockchain infrastructure. He challenged the common metaphor of Ethereum as “digital oil,” arguing instead that it’s evolving into a platform similar to fintech and commerce leaders like Circle, Coinbase, Shopify, and Robinhood. EMJ Capital remains long ETH via the $ETHA ETF and plans to adjust its model as new developments emerge.

Meanwhile, ETH has held up relatively well during recent market volatility. Bitcoin has fallen from highs above $123,000 to around $116,000 in the past two days as traders took profits. ETH, however, has slipped only 0.6% in the past 24 hours, buoyed partly by news from Nasdaq-listed SharpLink Gaming (SBET).

Earlier today, SharpLink announced via X that it has become the world’s largest corporate holder of ETH, overtaking even the Ethereum Foundation. Between July 7 and July 13, the company acquired approximately 74,656 ETH worth about $213 million, at an average price of $2,852 per token. This brought SharpLink’s total holdings to around 280,706 ETH.

SharpLink financed the purchases by raising $413 million through an At-The-Market (ATM) equity offering during the same period. About 99.7% of its ETH is currently staked, which has generated roughly 415 ETH in staking rewards since the company initiated its ETH-focused treasury strategy on June 2, 2025.

Additionally, SharpLink reported a 23% increase in its proprietary “ETH Concentration” metric since mid-June, reflecting higher ETH exposure per share. Chairman Joseph Lubin, also an Ethereum co-founder, said this move aligns with SharpLink’s vision of positioning itself at the forefront of digital commerce and DeFi by leveraging Ethereum’s infrastructure.

Technical Analysis Highlights

• ETH traded with significant volatility in the 24 hours from July 14 at 15:00 UTC to July 15 at 14:00 UTC, moving within a $132 range (4%), between a low of $2,933.50 and a high of $3,065.45.
• Overnight weakness saw ETH slide from $3,013.65 to $2,933.50 around 03:00 UTC before consolidating between $2,960 and $2,990.
• A sharp late-session rally lifted ETH from $3,000.02 to $3,051.89 in an hour, driven by trading volume of 496,321 units — more than double the 24-hour average.
• Another surge between 13:42 and 13:50 UTC saw ETH jump from $3,029.14 to $3,065.37, a $36 gain in just eight minutes as volume surged to over 21,000 units at 13:46.
• The rally broke through the critical $3,030 resistance level, setting new session highs, but profit-taking in the final minutes pulled ETH back to settle around $3,047 amid fading activity.

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