Tom Lee Says Ethereum Firms Are ‘Elite Of Wall Street’ — Is His Bullish $9000 Prediction Possible?

Core Viewpoint - Tom Lee remains optimistic about Ethereum, suggesting that the increasing involvement of major financial institutions could support his long-term price target of $9,000 for the cryptocurrency [1][4]. Institutional Adoption - Major financial institutions, referred to as the "venerable and elite of Wall Street," are increasingly building on the Ethereum blockchain, with Amundi, Europe's largest asset manager, launching a tokenized fund on Ethereum [2][5]. - The trend indicates a broader institutional shift towards public blockchains, as asset managers explore tokenization amid growing regulatory and investor acceptance of digital infrastructure [2]. Significance of Amundi's Move - James Smith from the Ethereum Foundation highlighted the importance of Amundi's deployment on Ethereum, noting that the asset manager, with €2.2 trillion in assets, surpasses major U.S. firms like Fidelity and PIMCO [3]. - The choice of public Ethereum over private chains by institutions like BlackRock, Franklin Templeton, and Amundi signifies a growing preference for Ethereum in real-world asset tokenization [3]. Price Forecast - Despite current market challenges, Tom Lee predicts that Ethereum's price could rebound significantly, estimating a range of $7,000 to $9,000 by the end of January, even as it trades around $2,843, reflecting a decrease of over 5% [4][6].