- Ethereum ETFs pulled in $2.8B this month, while Bitcoin ETFs saw $1.2B in outflows.
- John Deaton predicts ETH could climb to $10K, calling ETFs its “ChatGPT moment” for adoption.
- ETH hit $4,885 before consolidating near $4,740, up 30% in a month as institutions boost holdings.
Ethereum has been on fire this month, and the numbers prove it. Spot ETH ETFs pulled in $2.8 billion in inflows just in August, while Bitcoin ETFs actually lost $1.2 billion over the same stretch. Since July, Ethereum products have raked in $8.2B total, compared to $4.8B for Bitcoin. That’s a major shift in how institutions are allocating capital, and for Ethereum, it signals something bigger: corporate treasuries and fund managers are starting to lean heavily into ETH as a long-term play.
Deaton’s Bold $10K ETH Prediction
Attorney John Deaton, best known for backing XRP holders in their fight with the SEC, now has his sights on Ethereum. Off the back of these inflows, he’s predicting ETH could hit $10,000 this cycle. Deaton called the ETF boom Ethereum’s “ChatGPT moment” — a tipping point where adoption suddenly accelerates. He pointed to the GENIUS Act and other legislative shifts as supportive factors, along with ETH’s growing use in financial infrastructure. While some bulls have floated $20K ETH, Deaton says $10K is the more grounded but still explosive target.
Institutions Quietly Building ETH Treasuries
The demand isn’t just coming from ETFs. BitMine, a major player in the mining and treasury space, has now stacked over $7.19 billion in ETH. Fundstrat’s Tom Lee has argued that Ethereum’s role in tokenization, DeFi, and on-chain infrastructure makes it one of the most strategic assets institutions can hold right now. Deaton echoed this, saying treasury adoption will be one of the biggest drivers behind ETH’s climb. Even Coinbase CEO Brian Armstrong and veteran trader Peter Brandt have weighed in, with Brandt calling Ethereum’s breakout “powerful.”
Price Action: Knocking on the $5K Door
ETH ripped to $4,885 on Friday — its highest level since 2021 — before easing slightly to the $4,740 range. That rally was partly sparked by Fed Chair Jerome Powell confirming a rate cut next month, which sent risk assets flying. Ethereum is still up 7% on the week and more than 30% on the month, a run that’s pushing traders to keep a close eye on the $4,800–$5,000 resistance zone. A clean break above there, and Deaton’s $10K call suddenly won’t sound so wild.
