Key Insights:
- Ethereum could outperform Bitcoin in the next 3–6 months, according to Galaxy CEO Mike Novogratz.
- Massive ETH purchases by listed firms like BitMine and SharpLink show rising corporate adoption.
- Over $726 million flowed into Ethereum ETFs in a single day, which set a new record for inflows.
Ethereum (ETH) is gaining serious ground. According to Galaxy Digital CEO Mike Novogratz, it may soon beat Bitcoin in performance. Novogratz recently sat through an interview with CNBC, in which he pointed to institutional interest.
The crypto billionaire mentioned this as a major factor that could drive ETH to test the $4,000 level, or even beyond, over the next three to six months.
Ethereum’s $4,000 Breakout in Sight
Novogratz pointed out that Ethereum’s supply, especially with the low circulating supply, is setting the stage for a price surge. “There’s not a lot of supply of ETH,” he said, suggesting that demand from major investors could lead to a supply shock.
Galaxy CEO Mike Novogratz:
“I think $ETH probably has a chance to outperform Bitcoin in the next 3 to 6 months.”#Ethereum #Bitcoin #Crypto #ETH #BTC #CryptoNews #Investing pic.twitter.com/r6DALlWdfs
— Crypto News Hunters
(@CryptoNewsHntrs) “If ETH takes out $4,000, it goes into price discovery,” Novogratz added. At the time of his comments, Ether was trading at about $3,618, which made the $4,000 target an 8.5% climb.
While ETH is not yet at its all-time high of $4,878 set in 2021, the cryptocurrency has bounced back strongly this year and appears ready for further gains.
Corporations Are Buying ETH Like Never Before
A large part of Ethereum’s growing momentum comes from corporate treasuries. Two companies, BitMine Immersion Technologies and SharpLink Gaming, have collectively accumulated over $3.3 billion in ETH.
In particular, BitMine is now the largest corporate Ethereum holder. The company has acquired 566,776 ETH, worth approximately $2.03 billion at an average price of $3,643.75 per coin.
SharpLink Gaming has also added 360,807 ETH (worth about $1.29 billion) to its balance sheet. These purchases mark a new phase in the institutionalization of Ethereum, and are similar to the earlier trend of Bitcoin adoption by firms like MicroStrategy.
Another company, Ether Machine, is even preparing to go public on the Nasdaq under the ticker “ETHM,” with over 400,000 ETH ($1.5 billion) under management at launch.
ETFs Are Pouring Fuel on the Fire
Institutional confidence in Ethereum is also showing in the performance of ETH-based ETFs. Since gaining approval from the U.S. SEC last year, ETH ETFs have seen massive interest so far.
In just one day last week, these funds received $726 million in net inflows, which is a record-setting figure. Over the entire week, total inflows broke above $2.1 billion, in a show of strong demand from traditional finance sectors.
Such ETF activity not only strengthens Ethereum’s market performance but also makes it more legitimate in the eyes of investors and regulators.
Ethereum’s Strength Against Bitcoin Is Growing
While Bitcoin is currently the largest cryptocurrency by market cap, Ethereum is gaining ground in terms of relative strength. The ETH/BTC ratio, which is used to measure Ether’s value against Bitcoin, has climbed 36.5% over the last 30 days.
This ratio currently sits at 0.03116, and the ongoing traction indicates that Ethereum is starting to lead the market in terms of performance metrics.
Despite this, Novogratz hasn’t written off Bitcoin entirely. He believes BTC could reach $150,000 later this year if the bullish narrative holds. This is especially true in a macro environment with lower interest rates. “It feels like we’re destined to go higher,” he said.
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