Ether Could Hit $1.5 Million, Says EMJ Capital’s Eric Jackson
Ethereum’s price could skyrocket in the coming years, potentially reaching $1.5 million per token, according to Eric Jackson, founder of EMJ Capital. In a series of posts on X, Jackson argued that Ethereum (ETH) is underpriced and on the verge of a major breakout that “could catch everyone off guard.”
Why Jackson Is Bullish on Ethereum
Jackson believes Ethereum is becoming the backbone of the crypto economy, calling it the “dominant rail system to transact in crypto.” He highlights its deflationary tokenomics and growing institutional interest as major factors supporting a long-term surge in value.
One of the biggest catalysts, he says, will be the approval of Ethereum ETFs that include staking. The U.S. SEC approved spot ETH ETFs in July 2024, but staking-enabled ETFs could come later this year — and Jackson believes that shift is not yet priced in.
“Once ETH becomes a productive, staked asset within an ETF wrapper… it’s no longer just ‘digital oil,’” Jackson said. “It becomes an institutional-grade yield product.”
Currently, Bitcoin ETFs have far outpaced ETH ETFs in trading volume — $6.9 billion vs. $1.41 billion, according to CoinGlass. But Jackson argues that staking approval — expected before October — is the real catalyst, and it could change everything.
How ETH Could Reach $1.5 Million
Jackson envisions a future where more commerce happens through Ethereum, not fiat currency. Companies like Circle, Coinbase, Shopify, and Robinhood already use or enable access to the Ethereum blockchain.
“If this conversion to ETH commerce truly happens (and I believe it will), then ETH goes to $1.5M over time,” he said.
$10K to $15K in This Cycle, 100x Potential Over Time
Jackson’s base case is that Ether hits $10,000 by the end of this market cycle — likely around March 2026, based on typical four-year crypto cycles. His bull case targets $15,000, assuming stronger-than-expected adoption of Layer 2 solutions and inflows driven by staking ETF approval.
Notably, Jackson said his bullish forecast doesn’t even account for further growth in DeFi, stablecoins, or increased use of Robinhood and Coinbase’s Layer 2 networks. If those factors take off, he believes Ether could be a “100-bagger” investment — meaning a 100x return over time.
Summary
- Base case: ETH hits $10,000 by 2026.
- Bull case: ETH reaches $15,000 with strong L2 adoption and ETF inflows.
- Ultra-bull case: ETH surges to $1.5 million as crypto commerce expands and Ethereum becomes a dominant economic platform.
- Long-term view: Staking ETF approval + deflationary supply + institutional adoption = explosive potential.
In short, Jackson sees Ethereum not just as a tech platform, but as the future of global commerce and finance, with price potential that most investors may still be underestimating.
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