Ethereum surges to near record as investors bet on 'biggest macro trade' of the next decade
The world's second-largest cryptocurrency by market cap climbed 0.7% on Thursday to hover above $4,700 per token, just shy of its 2021 record level.
"We have stated multiple times we believe Ethereum is the biggest macro trade over the next 10-15 years," Fundstrat head of research Tom Lee wrote in a note on Wednesday.
Lee noted the majority of Wall Street crypto projects and stablecoins, or digital tokens backed by assets like the US dollar, are being built on the ethereum infrastructure.
Ether, the native token of ethereum, is up more than 50% since the GENIUS Act legislation, which creates guardrails for the stablecoin industry, was passed last month.
Additionally, the Securities and Exchange Commission's recent "Project Crypto" announcement, an initiative to modernize the agency and establish clear regulations around the digital asset industry, has also fueled the rally in ethereum.
Fundstrat sees ETH hitting prices moving as high as $15,000 by year-end.
The token is up 16% over the past five sessions versus bitcoin's (BTC-USD) rise of 4%.
Some companies have increasingly been raising capital to add ethereum to their balance sheets in a similar fashion to Strategy's (MSTR) bitcoin corporate treasury play.
Read more: Can you buy crypto with a credit card? See the pros and cons.
Inflows into ethereum by such digital asset treasury companies have supported higher prices, Spencer Hallarn, global head of over-the-counter trading at crypto investment firm GSR, told Yahoo Finance.
"This positive price momentum has reinforced further investor enthusiasm and flows into the space," he added.
For example, BitMine Immersion Technologies (BMNR), chaired by Fundstrat's Tom Lee, announced plans on Tuesday to sell up to another $20 billion worth of stock to increase its holdings of ethereum.
The company's goal is to eventually acquire 5% of the world's outstanding ETH tokens. BitMine shares are up roughly 80% over the past five days.
Meanwhile, gaming and sports betting company SharpLink Gaming (SBET) and blockchain tech firm BTCS (BTCS), both of which are pursuing similar strategies, are also up 8% in the past five sessions.
Ines Ferre is a Senior Business Reporter for Yahoo Finance. Follow her on X at @ines_ferre.
Click here for in-depth analysis of the latest stock market news and events moving stock prices
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
14 minutes ago
- Yahoo
Earnings Beat and Acquisitions Strengthen Rocket Companies Progress
Rocket Companies, Inc. (NYSE:RKT) is one of the 11 Best Short Squeeze Stocks to Buy Now. The company surpassed Q2 expectations and has bolstered expectations for its Redfin acquisition and pending COOP transaction. A businessperson using a laptop to review the details of a mortgage loan for a client. Rocket Companies, Inc. (NYSE:RKT) is a leading fintech platform delivering mortgage lending, real estate brokerage, personal finance, and homeownership solutions. The Michigan-based company's ecosystem includes Rocket Mortgage, Rocket Homes, Rocket Close, and Rocket Money. Its business model involves leveraging AI to streamline the homebuying and financial management experience. On July 31, 2025, the company reported achieving an EPS of $0.04 that surpassed the analysts' expectations of $0.03 in its Q2 earnings results. Additionally, Rocket Companies, Inc. (NYSE:RKT)'s revenue reached $1.36 billion, exceeding the projected $1.28 billion, further garnering positive attention from investors. In addition to this, Rocket Companies, Inc. (NYSE:RKT) is anticipated to close the COOP transaction in the fourth quarter of 2025, thus eliminating elevated transaction-related expenses that negatively impacted the company's second-half 2025 earnings. Also, the acquisition of Redfin, completed on July 1, 2025, brought a positive outlook to the company as the combination of the most-visited real estate brokerage website and the U.S.'s largest mortgage lender is expected to improve efficacy. With a short float of 58.38%, Rocket Companies, Inc. (NYSE:RKT) potentially has extreme short interest. However, the stock attracts investor interest as it is subject to a dramatic squeeze in positive momentum. While we acknowledge the potential of RKT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 12 Best REIT Stocks to Buy Right Now and 10 Stocks with Huge Catalysts on the Horizon Disclosure. None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14 minutes ago
- Yahoo
Giants' Justin Verlander's brother downplays Dodgers superstar Shohei Ohtani's $240M distraction
Giants' Justin Verlander's brother downplays Dodgers superstar Shohei Ohtani's $240M distraction originally appeared on The Sporting News The Los Angeles Dodgers haven't been playing particularly well lately, including suffering a mid-week sweep at the hands of the Angels. In fact, the Dodgers lost every game they played against the Angels this season. During the series, former Angel Shohei Ohtani found himself on the wrong side of history. 'According to Baseball Almanac's tracker of every triple play in MLB history, it marked just the eighth the Angels have ever turned. As for the Dodgers, they have now fallen victim to 24 triple plays. There had never been a triple play in the 152 games between the Dodgers and Angels since the Freeway Series began in 1997,' SI's Sam Connon wrote. Off the field, Ohtani is facing growing distractions, including an ongoing lawsuit. 'A Hawaii real estate investor and broker are suing Shohei Ohtani, claiming the Los Angeles Dodgers star and his agent got them fired from a $240 million luxury housing development on the Big Island's coveted Hapuna Coast that they brought him in to endorse,' The Associated Press's Jimmy Golen wrote. 'According to the lawsuit filed in Hawaii Circuit Court on Friday, Ohtani's agent, Nez Balelo, increasingly demanded concessions from developer Kevin J. Hayes Sr. and real estate broker Tomoko Matsumoto before demanding that their business partner, Kingsbarn Realty Capital, drop them from the deal.' While the situation is unfolding off the field, MLB analyst and Justin Verlander's brother, Ben Verlander, has attempted to downplay its significance. 'In a since-deleted tweet, Verlander dismissed the $240 million legal fight by telling fans, 'Let's all remember to not just get mad because you see his name attached to something. If his name wasn't Shohei Ohtani we wouldn't even know about this,'' Alvin Garcia wrote. 'He added, 'Never seen so many people care about CIVIL lawsuits regarding real estate.'' Follow The Sporting News on WhatsApp Verlander has certainly minimized the seriousness of the ongoing situation, which could escalate quickly. The Dodgers have done well to keep the matter from becoming a clubhouse distraction. However, Verlander's public comments aren't a good look. Ohtani will continue to play, but if the lawsuit doesn't go well, Verlander's dismissive remarks may come back to haunt him for a long time.
Forbes
17 minutes ago
- Forbes
FBI Warns iPhone And Android Users—Do Not Use These Codes
An 'impossible' to detect smartphone threat is now surging, with a new warning that more than 4 million attacks were observed 'in the first half of 2025 alone.' It's no surprise the FBI has a new warning for iPhone and Android users. We're talking QR codes, which Proofpoint warns 'burst on the scene in 2023' and are now being quickly 'adopted by threat actors as a way to remove the victim from the enterprise detection pipeline and bypass traditional URL scanning and filters.' The FBI has now issued a warning to all smartphone users that the latest such attack is taking hold, a change in tactics given all the headlines around unpaid toll, DMV motoring offenses and even the original favorite undelivered package texts. 'Criminals are sending unsolicited packages containing a QR code,' the bureau says, 'and once scanned, victims provide personal and financial information while unknowingly downloading malicious software that steals data from their phone.' Proofpoint warns 'it is impossible to tell if a QR code is a threat just by looking at it.' That makes 'these threats particularly dangerous,' with users now used to 'scanning QR codes with their phone cameras for everything from instructions to menus.' Just as with the FBI's latest advisory, these attacks are 'socially engineered to convince you to scan the code.' Once you do, you're 'redirected to a fraudulent website designed to steal sensitive data, such as login credentials, credit card numbers or personal data.' The FBI's advice is clear: 'Do not scan QR codes from unknown origins.' And while that includes this latest 'brushing' scam, with unsolicited packages delivered to your home with no sender details, it's more likely you'll be caught by a QR code in an email attachment or on a parking meter or even on a poster by the side of the street. The FBI says 'QR code scam has evolved much like all other scams,' and 'if you happen to scan a scammer's bad code, you could end up giving them access to your device.' Do that, the bureau says, and those attackers 'can access your contacts, download malware, or send you to a fake payment portal. Once there, you can inadvertently give them access to your banking and credit card accounts. If you make a payment through a bad QR code, it's difficult if not impossible to get those funds back.' Proofpoint says 'attacks that target people are all about hacking human nature,' and that's certainly the case with QR codes. In a world where your phone helpfully offers a link whenever it sees a code, without any of the link protection or warnings in other apps, it's easy to see why these attacks are surging. You have been warned.
