Ethereum may overtake Bitcoin in performance any day now, Galaxy Digital CEO Mike Novogratz stated in a recent interview. According to him, Ethereum is accelerating as more capital flows into the market and as institutional demand rises while a benevolent macroeconomic environment is in place.
ETH Demand Is Heating Up
Novogratz pointed out that Ethereum’s supply is decreasing as more capital flows into the market. He highlighted that this isn’t retail hype alone actual institutional money is coming into the space, particularly after Ethereum exchange-traded funds (ETFs) opened the door to new investment opportunities.
Some firms, such as SharpLink Gaming, already have immense piles of ETH. The company recently invested and now owns more than 360,000 ETH. Novogratz attributes this trend to increasing confidence from corporate treasuries and institutional buyers.
He approximated that over $20 billion has recently flowed into the crypto space, which not only has driven prices but also has enticed retail investors into action.
Ethereum as a Growth Asset
While Novogratz still sees Bitcoin as a strong and stable asset, he called Ethereum a “growth asset” with more upside potential. He said if ETH can break out, it may lead the next crypto rally.
He also spoke of the broader economic landscape. Inflation is on the rise, and treasury yields are changing. In the meantime, the U.S. government is demanding more stimulus, and China is accelerating economic growth initiatives. All of this may help underpin risk assets such as Ethereum.
Novogratz explained that a change in U.S. political leadership, i.e., Donald Trump returning with more stringent economic policies, might alter the current bullish setup. But for now, the environment seems to favor Ethereum’s progress.
BlackRock’s Ethereum ETF (ETHA) just became the third-fastest crypto ETF to post \$10 billion in assets, behind only Bitcoin ETFs IBIT and FBTC. That suggests strong investor confidence in the future of Ethereum.
Novogratz felt that the intersection of growing institutional appetite, supportive market conditions, and the performance of Ethereum-focused ETFs could drive ETH to the forefront of the next crypto rally.
Highlighted Crypto News Today
Moonveil Token Hits All-Time High Amid Significant Game Ecosystem Growth
