The chief investment officer of the crypto asset management firm Bitwise says that Ethereum should continue growing in the coming months as demand for ETH increases. In a new thread on the social media platform X, Bitwise CIO Matt Hougan says that the second-largest digital asset by volume will continue rising due to overwhelming demand for it. “ETH is on a tear. After trading steadily downward for the first four months of the year, it has rebounded strongly. It’s up 50%+ in the past month and more than 150% since its lows in April. The reason? Overwhelming demand from ETPs (exchange-traded products) and corporate treasuries.” According to Hougan, since May, institutional demand for ETH has shot up, causing its price to skyrocket after its ETPs suffered a lackluster launch. “ETH ETPs launched in July 2024, but the initial response was tepid… Something changed in mid-May. Since May 15, spot Ethereum ETPs have been on a tear, pulling in more than $5 billion. Corporations have also gotten into the game, with firms like Bitmine and SharpLink announcing Ethereum treasury strategies. By our estimates, ETPs and Corporate Treasuries have combined to buy 2.83 million ETH since May 15 – more than $10 billion at today’s prices. That’s 32x net new supply over the same time period. No wonder the price of ETH has soared!” Source: Matt Hougan/X According to Hougan, the blue-chip investors should continue ramping up their investments into the top altcoins, driving its price up for the coming months. “The right question to ask is: Will this persist? I think the answer is ‘yes…’ With surging interest in stablecoins and tokenization, we expect strong ETH ETP inflows for a long time to come. Meanwhile, all signs suggest the ‘ETH treasury company’ trend will accelerate… Looking out, I can imagine ETPs and Treasury Companies buying $20 billion of ETH in the next year, or 5.33 million ETH at today’s prices. Meanwhile, the network is expected to produce roughly 0.80 million ETH over the same period. That’s ~7x more demand than supply.” ETH is trading for $3,635 at time of writing, a 3.2% decrease on the day. Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Featured Image: Shutterstock/geogif The post Ethereum Price To Continue Rising in the Months Ahead Driven by One Catalyst, According to Bitwise CIO Matt Hougan appeared first on The Daily Hodl .
