John Deaton Predicts $10K Ethereum as Spot ETFs Add $2.8B This Month

TLDR

• Ethereum ETFs attracted $2.8B in August inflows, while BTC ETFs saw $1.2B outflows.

• Lawyer John Deaton says ETH could reach $10,000 based on corporate demand.

• Deaton sees ETF inflows as ETH’s “ChatGPT moment” for mass adoption.

• Ethereum hit $4,885 before pulling back, with strong weekly and monthly gains.

Ethereum-based exchange-traded funds (ETFs) have recorded $2.8 billion in net inflows so far this month, indicating a growing shift in investor preference. Data shared by ETF analyst Nate Geraci shows that spot Ethereum ETFs drew $340 million in new investments on Friday alone.

Meanwhile, Bitcoin ETFs experienced $1.2 billion in net outflows over the same period. Since July, Ethereum ETFs have attracted $8.2 billion in total inflows, compared to $4.8 billion for Bitcoin. Geraci described the difference as a “notable recent shift,” reflecting a rising level of institutional demand for Ethereum.

This inflow pattern has strengthened Ethereum’s position as a preferred asset in the current market cycle, particularly among corporate treasuries and fund managers.

John Deaton Forecasts $10,000 ETH Price Target

Attorney John E. Deaton, who gained recognition for representing XRP holders in legal action against the SEC, stated that Ethereum may reach a price of $10,000. He made the prediction following the ETF inflow data and growing adoption of ETH by corporate treasuries.

Deaton pointed to both market activity and infrastructure improvements in Ethereum’s ecosystem. He noted that legislative changes, such as the recent passing of the GENIUS Act, could support Ethereum’s growth. He compared Ethereum’s current momentum to the rapid rise of stablecoins, calling it a “ChatGPT moment” for ETH adoption.

Though some market participants suggest Ethereum could reach $20,000 this cycle, Deaton believes $10,000 is a more realistic price target based on current fundamentals.

Corporate Demand and Infrastructure Fuel Optimism

Deaton also referenced analysis from Fundstrat’s Tom Lee, who argued that Ethereum is positioned for strong demand due to legislative tailwinds and its use case in financial infrastructure. Lee, who serves as chairman of BitMine, has emphasized Ethereum’s role in driving on-chain adoption and long-term value creation.

BitMine recently increased its ETH holdings to over $7.19 billion, reflecting institutional belief in Ethereum as a strategic treasury asset. According to Deaton, this type of demand is a critical factor supporting Ethereum’s continued rise in both adoption and price.

Ethereum’s recent performance has already drawn recognition from industry leaders. Coinbase CEO Brian Armstrong and trader Peter Brandt both commented on Ethereum’s latest breakout, with Brandt calling the move “powerful.”

Ethereum Consolidates Near $4,740 After Hitting New High

Ethereum reached a high of $4,885 on Friday, its strongest level since 2021. The move followed Federal Reserve Chair Jerome Powell’s confirmation that a rate cut is scheduled for next month. This triggered a strong rally across risk assets, including crypto.

Although Ethereum has since pulled back slightly to around $4,739, the token has recorded a 7% gain over the week and a 30% rise for the month. Bitcoin also advanced during the rally, reaching $117,420 before settling near $115,700.

Traders are closely watching Ethereum’s price behavior around the $4,800–$5,000 range as market momentum continues.

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