On Sunday, Eric Jackson, the founder and president of Canadian hedge fund EMJ Capital, explained why his firm is so bullish on ether.
On Tuesday, $ETH is trading at hovering around the $3,000 level — even as the crypto market suffers from the $7,000 drop in the bitcoin price caused by profit taking by large $BTC holders — seemingly supported by the latest ETH accumulation announcement by SharpLink Gaming (SBET).
Jackson explained that his firm’s model anticipates a supply boost driven by several factors. He highlighted that staking approval would likely lead to increased institutional demand, reduced circulating supply, and passive investment flows from traditional finance. Combined with Ethereum's deflationary tokenomics post-merge, growing transaction fees from layer-2 solutions, and the rise of real-world asset (RWA) tokenization, he believes these dynamics could significantly boost ETH's value.
In his analysis, Jackson projected a base case of ether reaching $10,000 by the end of the current market cycle, with a more optimistic scenario of $15,000 or higher if layer-2 adoption and ETF inflows exceed expectations.
Earlier today, the firm announced via a post on X that it has its position as the largest corporate holder of ether globally, surpassing even the Ethereum Foundation. The company disclosed that between July 7 and July 13, 2025, it acquired approximately 74,656 ETH for roughly $213 million, at an average price of $2,852 per ETH, bringing its total holdings to around 280,706 ETH.
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