{"id":433695,"date":"2024-07-17T14:02:11","date_gmt":"2024-07-17T13:02:11","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=433695"},"modified":"2024-07-17T14:04:11","modified_gmt":"2024-07-17T13:04:11","slug":"bitwise-predicts-ethereum-etfs-will-trigger-50-surge-to-new-all-time-high-over-5000","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/bitwise-predicts-ethereum-etfs-will-trigger-50-surge-to-new-all-time-high-over-5000\/","title":{"rendered":"Bitwise predicts Ethereum ETFs will trigger 50% surge to new all-time high over $5k"},"content":{"rendered":"

Bitwise<\/a> CIO Matt Hougan predicts that the upcoming spot Ethereum<\/a> ETFs will drive the digital asset's value to new all-time highs, surpassing $5,000.<\/p>\n

In a June 16 note to investors, Hougan wrote<\/a>:<\/p>\n

“By year-end, I\u2019m confident the new highs will be in. And if flows are stronger than many market commentators expect, the price could be much higher still.”<\/p><\/blockquote>\n

However, Hougan mentioned that ETH's price might not rise immediately after the ETFs launch next week because “money may flow out of the $11 billion Grayscale Ethereum Trust (ETHE)<\/a> after it converts to an ETP.”<\/p>\n

Still, Hougan emphasized that spot ETFs usually generate new demand for commodities like ETH. He referenced the launch of similar products for Bitcoin<\/a>, which led to a price increase of around 25% since January 11 and about 110% since October 2023, when the market began anticipating their approval.<\/p>\n

Why ETH could reach a new high<\/h2>\n

Hougan outlined three structural reasons why the inflows into spot ETH ETFs will have a more significant impact than they did for BTC.<\/p>\n

First, he claimed ETH's short-term inflation rate is 0%, unlike Bitcoin's 1.7% when its ETFs began trading. This means BTC needed “$16 billion of Bitcoin buying per year just to tread water.” With ETH, the situation differs as “people using Ethereum-based applications\u2014everything from stablecoins to tokenized funds\u2014consume ETH as well.”<\/p>\n

Hougan highlighted the correlation between “the amount of ETH being consumed” and network activity, noting it presents “another lever of organic demand working in [ETF] investors' favor.”<\/p>\n

Furthermore, Hougan pointed out that Ethereum's price does not have to deal with the threat of “miners' selling<\/a>” because its stakers do not need to sell before making profits. ETH stakers are investors who have locked up a certain amount of their coins to help the network operate smoothly.<\/p>\n

He wrote:<\/p>\n

“A key difference between Bitcoin mining and Ethereum staking is that staking does not have significant direct costs. As a result, Ethereum stakers are not forced to sell the ETH they produce. Even if Ethereum\u2019s inflation rate rises above 0%, I do not expect significant selling pressure from stakers.”<\/p><\/blockquote>\n

Additionally, Hougan pointed out that approximately 40% of the Ethereum supply<\/a> is locked in staking and smart contracts, making it unavailable for sale.<\/p>\n

So, Hougan reiterated his prediction that ETH ETF assets under management could reach $15 billion<\/a> within their first 18 months of trading and concluded that:<\/p>\n

“ETH is currently trading at ~$3,400, just 29% below its all-time high. If the ETPs are as successful as I expect\u2014and given the dynamics above\u2014it\u2019s hard to imagine ETH not challenging its old record.”<\/p><\/blockquote>\n

[Editor's Note:<\/em><\/p>\n

Data from ultrasound money<\/a> shows that Ethereum's inflation rate is now above zero percentage, coming in at 0.466% over the past 24 hours and 0.595% over the past 30 days. However, since The Merge<\/a> it has recorded a negative 0.136% inflation due to ETH being burned through transaction fees, making it deflationary over 1 year and 306 days.\u00a0<\/em><\/p>\n

Hougan's argument regarding Ethereum's inflation ultimately relies on the network's consumption. High transaction numbers lead to high amounts of ETH burned and, thus, lower inflation. Yet, the surge in layer-2 usage<\/a> due to lower fees has resulted in fewer mainnet transactions over the past few months, thus pushing Ethereum back into inflationary territory<\/a>.]<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitwise CIO Matt Hougan predicts that the upcoming spot Ethereum ETFs will drive the digital asset’s value to new all-time highs, surpassing $5,000. In a June 16 note to investors, Hougan wrote: “By year-end, I\u2019m confident the new highs will be in. And if flows are stronger than many market commentators expect, the price could […]<\/p>\n","protected":false},"author":720,"featured_media":433698,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,78665],"tags":[77156,76718,72190],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"\nBitwise predicts Ethereum ETFs will trigger 50% surge to new all-time high over $5k<\/title>\n<meta name=\"description\" content=\"Bitwise CIO Math Hougan forecasts Ethereum to surpass $5,000 driven by spot exchange-traded funds (ETFs).\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/bitwise-predicts-ethereum-etfs-will-trigger-50-surge-to-new-all-time-high-over-5000\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitwise predicts Ethereum ETFs will trigger 50% surge to new all-time high over $5k\" \/>\n<meta property=\"og:description\" content=\"Bitwise CIO Math Hougan forecasts Ethereum to surpass $5,000 driven by spot exchange-traded funds (ETFs).\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/bitwise-predicts-ethereum-etfs-will-trigger-50-surge-to-new-all-time-high-over-5000\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-17T13:02:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-17T13:04:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/07\/ethereum-etf-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/bitwise-predicts-ethereum-etfs-will-trigger-50-surge-to-new-all-time-high-over-5000\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/bitwise-predicts-ethereum-etfs-will-trigger-50-surge-to-new-all-time-high-over-5000\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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