- Fundstrat’s Tom Lee echoed Bitwise CIO’s $10 billion ETH ETF inflows projection in H2.
- Polymarket’s odds of ETH’s price hitting an ATH in 2025 were low, at 21%.
Ethereum [ETH] could post its best performance in H2. According to Bitwise CIO, Matt Hougan, the U.S. spot ETH ETFs could attract $10 billion, citing two catalysts.
“The combination of stablecoins & stocks moving over Ethereum is an easy-to-grasp narrative for traditional investors. They (ETH ETFs) could do $10B in H2.”
FundStrat CIO Tom Lee echoed the projection, arguing that Ethereum is the primary settlement layer for tokenized assets, including stablecoins and on-chain stocks.
ETH price catalysts
Currently, Ethereum leads with $130 billion in the stablecoin market, followed by TRON [TRX] at $77 billion.
With an expected boom to $3 trillion market size, Lee believes the growth could boost Ethereum network effects and fees.
Source: RWA
Ethereum also dominates the tokenized U.S. treasuries sub-sector, currently valued at $7 billion. The recent trend of on-chain stocks could further boost Ethereum as a settlement layer.
In fact, Lee is so convinced of these positive catalysts that he unveiled a $250 million ETH corporate strategy plan with BitMine Technologies to capture this expected growth.
This could add to the growing treasury trend that has accumulated 1.2 million ETH worth $3.15B.
Still, ETFs lead on the ETH demand front. The products have attracted $4.28 billion in cumulative inflows since they launched in July 2024.
Last month, the products saw $1.17 billion in inflows. A surge in inflows to $10B, nearly 2x the current demand, could positively impact ETH prices.
The overall capital inflows, as tracked by Realized Cap, showed recovery in Q2. The indicator surged from $240 billion to $249 billion, lifting ETH from $1.8K to over $2.5K.
So, ETH price could climb higher if the inflows keep coming in H2.
Source: Glassnode
The above bullish conviction is also evident amongst ETH holders. The balance held by accumulation addresses jumped from 16 million to a record high of 23 million ETH in the past two months.
But speculators doubt if ETH’s price could print a new all-time high (ATH) this year. The odds of an ATH in 2025 were 21%, per the prediction site Polymarket.
Meanwhile, MVRV pricing bands showed that ETH could peak at $4.8k or $6.4k (upper bands) this cycle, if the historical trend repeats. The altcoin tagged the upper bands during the 2017 and 2021 cycle peaks.
Source: Glassnode
