Ethereum, $10,000 if it surpasses $2,400?...Institutional Tokenization Funds Activate Bullish Scenario

▲ Ethereum (ETH)

As Ethereum (ETH) recovered to $2,300, market analysts believe that strong additional gains could emerge, driven by institutional tokenization demand and expectations for the US cryptocurrency market structure bill.

Cointelegraph reported on May 13 (local time) that Ethereum rose 2% over 24 hours to trade at $2,320, and the push by JPMorgan and BlackRock for Ethereum-based tokenization funds is fueling bullish expectations. Ethereum failed to break the $2,400 resistance last week, and outflows from Ethereum spot ETFs and increased Binance balances reportedly shook the recovery trend.

In the market, the recovery above $2,400 was highlighted as key for the continuation of the short-term bullish trend. Analyst CryptoJack stated on X (formerly Twitter) that Ethereum remains within a symmetrical triangle on lower timeframe charts, adding, “A breakout could soon lead to strong moves.” Crypto Patel analyzed that Ethereum is trading within an ascending triangle that has guided price movements since 2020, bouncing off the lower trendline near $1,800.

Aggressive long-term price targets were also presented. Crypto Patel set Ethereum's upside target between $10,000 and $15,000, stating, “Ethereum will outperform the market this cycle.” Celal Kucuker also outlined a path for Ethereum to move above $24,000 in the long term. Cointelegraph reported that the monthly Relative Strength Index (RSI) has cooled to its historical support zone of 42-45, which was seen before past rallies.

The trend of institutional adoption was presented as a core basis for the bullish case for Ethereum. JPMorgan is preparing to launch a tokenized money market fund on Ethereum, allowing stablecoin issuers to earn interest while holding reserves. BlackRock has also applied for a tokenized version of a Treasury liquidity fund, with official ownership records to be managed on Ethereum using the ERC-20 standard. According to RWA.xyz data, the global tokenized fund market has already exceeded $31 billion, with Ethereum accounting for approximately 55% of this market.

The US cryptocurrency market structure bill was also mentioned as another catalyst. Michaël van de Poppe, founder of MN Capital, said that the approval of the US cryptocurrency market structure bill, which is scheduled for review on Thursday, could be a "huge trigger" for the market. Polymarket participants are reflecting a 60% probability that the bill will be signed into law by 2026, a figure that has decreased by 5% in the last 24 hours. Cointelegraph also cited the example of Ethereum's 65% surge from $3,000 to an all-time high of $4,950 after the GENIUS stablecoin regulation bill was signed into law in July 2025.

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