Ethereum (ETH) could be on the verge of a major breakout, driven by more than just the expected approval of exchange-traded funds (ETFs). According to Eric Jackson, founder of EMJ Capital, the real catalyst for ETH’s surge to $10,000 lies in the anticipated approval of staking within ETFs.
Staking Approval as the Key Driver
Jackson shared on X that while the market may have already priced in the impact of a spot Ethereum ETF, the true game-changer will be when staking becomes part of these products. This development could unlock significant passive capital inflows from traditional finance and offer institutions a “real yield” potentially reaching 3.5%.
By encouraging more investors to stake ETH, the circulating supply would shrink further—compounding Ethereum’s deflationary tokenomics following the Merge. This could trigger a “structural supply crunch” and push Ethereum’s valuation considerably higher.
Jackson highlighted that this shift would transform ETH from “digital oil” into an institutional-grade yield product, positioning it for a major price rally.
Price Targets and Bullish Scenarios
Based on this analysis, Jackson projects ETH could reach $10,000 by the end of the current cycle. His bullish case even envisions a surge past $15,000, driven by Layer 2 adoption and strong ETF inflows once staking approval arrives, possibly before October.
Skepticism and Market Realities
Despite the optimism, Jackson’s forecast has met some criticism. Observers pointed out that Ethereum won’t be the first U.S.-listed crypto ETF offering staking rewards; the REX-Osprey Solana ETF launched earlier this month, offering around 7.3% yield and attracting strong trading volume.
Additionally, some skeptics question Ethereum’s technical robustness, citing legacy issues and comparing it unfavorably to newer blockchains.
Long-Term Vision
Undeterred, Jackson envisions Ethereum evolving into the dominant transactional layer for crypto-commerce—potentially driving ETH’s value to $1.5 million per token over time if this vision materializes.
For now, Ethereum trades near $3,045, showing steady gains with a 19.5% increase over the past week and an 86.7% jump in the last three months.
