Mike Novogratz Says Ethereum May Outperform Bitcoin

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Galaxy Digital CEO Mike Novogratz believes Ethereum (ETH) could outperform Bitcoin (BTC) over the next few months, citing strong demand and limited supply.

“There’s not a lot of supply of ETH, and so I think ETH probably has a chance to outperform Bitcoin in the next three to six months,” he told CNBC in an interview on Wednesday.

$4K In Sight: Novogratz Cites “Really Powerful” Ethereum Narrative

Novogratz said the altcoin leader is “destined to at least knock on the $4,000 ceiling a few times,” pointing to a wave of institutional accumulation as a key driver. “If ETH takes out $4,000, it goes into price discovery,” he added, meaning the price could rise quickly with no clear ceiling as the market figures out what it’s worth.

With the price of ETH standing at $3,628.61 as of 2:22 a.m. EST, the crypto’s price would need to climb around 10.2% to reach $4K.

Backing his ETH prediction is the “really powerful” narrative around Ethereum. The Galaxy Digital CEO mentioned the accumulation from firms such as Sharplink Gaming and BitMine Immersion Technologies, which have both recently bought large amounts of ETH.

Yesterday, BitMine reported holding 566,766 ETH, and Sharplink’s holdings stand at 360,807 ETH.

In addition to that, another firm called Ether Machine plans to list on the Nasdaq under the ticker “ETHM” with more than 400K ETH under management at launch.

BlackRock ETF Is Third-Fastest To Reach $10B In Assets

Adding to the strong narrative around Ethereum is the recent performance by spot ETH ETFs (exchange-traded funds).

The investment products posted their 15th consecutive day of net daily inflows yesterday, data from Farside Investors shows.

Leading the inflows into the funds is BlackRock’s iShares Ethereum ETF. Recently, the fund reached $10 billion in assets under management (AUM).

Bloomberg ETF analyst Eric Balchunas noted on X that it only took the ETF 251 days to achieve that milestone, making it the 3rd-fastest ETF to reach $10B AUM.

LOOK OUT: $ETHA just hit $10b in one year flat, the 3rd fastest ETF to hit that mark in history after (you guessed it) two bitcoin ETFs $IBIT & $FBTC. Amazingly it went from $5b to $10b in just 10 days (ETF asset equiv of a God candle). Is in Top 5 in flows 1M, 1W. Sister Hazel! pic.twitter.com/Jrrb15BdHV

— Eric Balchunas (@EricBalchunas) July 24, 2025