Steven McClurg: Bitcoin $150K in 2025, Ethereum Doubt | ETF Inflows

Key Takeaways

• Steven McClurg, CEO of Canary Capital, predicts Bitcoin will hit $140,000-$150,000 by year's end before a 2026 bear market

• McClurg dismisses Ethereum as "older technology," favoring newer blockchains like Solana and Sui

• Bitcoin ETF inflows reached $773 million over three days ending August 10, with BlackRock's IBIT holding $80 billion in BTC

• Ethereum ETF inflows surged to $2.3 billion in August 2025, driven by institutional demand

• McClurg attributes Bitcoin's rally to rising ETF demand and institutional buyers including sovereign wealth funds and corporate treasuries

• Bitcoin hit a new all-time high of $124,380 on August 11, 2025

The Man Behind the Bold Bitcoin Call

Steven McClurg runs Canary Capital. He files ETF applications for a living. The guy knows institutional money flows like a bartender knows whiskey brands , intimately and with professional necessity.

McClurg told CNBC there's a "greater than 50% chance" Bitcoin reaches the $140,000 to $150,000 range this year. That's not hedge fund speak for "maybe." That's a CEO putting his reputation on public record.

The prediction comes from someone whose business depends on understanding what institutions actually buy, not what crypto Twitter thinks they should buy. Canary Capital has filed ETF applications for XRP, Sui, Cronus (CRO), Hedera (HBAR), and President Trump's official meme coin on Solana.

Notice what's missing from that list? Ethereum. McClurg didn't file for an Ethereum ETF. That tells you something about where his money is going.

Bitcoin's Institutional Rocket Fuel

The money behind Bitcoin's surge isn't retail FOMO. U.S. spot Bitcoin ETFs attracted $773 million in net inflows over three days ending August 10. That's institutional scale money.

BlackRock's IBIT now holds $80 billion in BTC , just shy of the $94 billion in assets managed by gold's SPDR Gold Shares ETF. Think about that comparison. Bitcoin ETFs are matching gold ETFs in asset size.

McClurg points to "rising demand from ETFs and an expanding base of institutional buyers, including sovereign wealth funds, pensions, and corporate treasuries" as the driving force. These aren't day traders. These are institutions with 20-year investment horizons.

The timing matters too. Bitcoin reached $124,380 on August 11, 2025, coinciding with a 12% price jump and weak labor market expectations. Institutions buy Bitcoin when traditional assets look shaky.

Why McClurg Doubts Ethereum

McClurg called Ethereum "an older technology" and said "there's a lot of other protocols that are faster, cheaper to transact, and fundamentally more secure".

That's a direct shot at the world's second-largest cryptocurrency. He credited Ethereum with "a great run over about a five-year period" but said newer blockchains like Solana and Sui have eclipsed it.

The CEO's prediction? "I do expect it to wane and not see all-time highs". This while Ethereum ETF inflows reached $2.3 billion in August 2025 and the token traded near record highs.

McClurg sees newer blockchain tech eating Ethereum's lunch. Speed matters. Transaction costs matter. Network security matters. In his view, Ethereum lost the technology race.

The Counter-Argument: Network Effects Trump Tech

Not everyone agrees with McClurg's Ethereum skepticism. Amberdata Director of Derivatives Greg Magadini told Decrypt that "Ethereum will be extremely hard to compete with despite what some call 'older tech,' because Ethereum owns the developer ecosystem".

Magadini compared Ethereum to the iPhone platform. Developers build on it. Network effects compound over time. Magadini predicts Ethereum will catch up to Bitcoin on a relative basis, with ETH/BTC reaching 7% , implying an ETH price between $8,000 and $10,000.

The data supports some institutional interest in Ethereum. Over the past week, Ethereum ETFs attracted $461 million in new capital, even outpacing Bitcoin's $253 million.

Institutional investors flocked to Ethereum, driven by clear regulatory frameworks, with significant players like BlackRock sparking the trend. The established players are betting on both sides.

ETF Inflows: The Real Market Mover

The ETF story matters more than individual coin predictions. Trading volumes surged 26% to $93 billion, reflecting strong institutional participation during Bitcoin's recent rally.

BlackRock's iShares Bitcoin Trust (IBIT) holds over $51 billion worth of Bitcoin as of late April 2025, making it one of the largest crypto investment vehicles in the world. That's real institutional adoption.

Policies allowing crypto in federal plans further bolstered confidence, signaling a shift in asset allocation strategies. Government pension funds can now buy Bitcoin ETFs.

The infrastructure exists now. The regulatory approvals are in place. The institutional money is flowing. That creates a different market dynamic than previous crypto cycles.

McClurg's Alternative Crypto Picks

Beyond Bitcoin, McClurg floated some interesting alternatives. He compared Litecoin to "silver" alongside Bitcoin's "gold" and noted that "Litecoin has the ability to process Ordinals a lot faster".

The CEO filed for a spot Litecoin ETF. He sees practical utility in Litecoin for smaller transactions. That's not sexy venture capital thinking , that's operational utility thinking.

Canary Capital filed ETF applications for several altcoins, including Sui and Solana, betting on newer blockchain technology rather than established names.

These aren't random picks. They're ETF applications. Someone has to convince institutions these assets deserve portfolio allocation.

Market Timing and Seasonal Patterns

McClurg noted that "August is historically a bad month for any risk asset, especially cryptocurrencies" while "September and October are usually very strong".

Professional traders know seasonal patterns matter. Institutional money follows predictable flows. Summer is slow. Fall brings renewed activity. McClurg expects crypto's seasonality to add volatility in the months ahead.

The timing of his $150,000 Bitcoin prediction , by year's end , accounts for these seasonal patterns. He's not just calling a number. He's calling a timeline based on when institutional money typically moves.

The 2026 Bear Market Warning

McClurg predicts Bitcoin will hit $150,000 "before we see another bear market next year". That's the other half of his prediction that gets less attention.

He's not calling for endless growth. He's calling for a massive surge followed by a correction. That sounds like someone who understands market cycles, not just bull market psychology.

The institutional money driving current gains could just as easily drive future corrections. ETF flows work both ways. If institutions rotate out of crypto, they'll do it with the same scale they rotated in.

Frequently Asked Questions

Who is Steven McClurg? 

Steven McClurg is the CEO of Canary Capital, an investment firm that files ETF applications for various cryptocurrencies including Bitcoin alternatives.

What is McClurg's Bitcoin price prediction for 2025? 

McClurg predicts Bitcoin will reach between $140,000 and $150,000 by the end of 2025, driven by ETF inflows and institutional demand.

Why is McClurg bearish on Ethereum? 

McClurg considers Ethereum "older technology" that has been surpassed by newer, faster, and more secure blockchains like Solana and Sui.

What are ETF inflows and why do they matter? 

ETF inflows represent institutional money flowing into exchange-traded funds. They matter because institutional investors bring larger, more stable capital than retail traders.

How much money has flowed into Bitcoin ETFs recently? 

Bitcoin ETFs saw $773 million in net inflows over three days ending August 10, 2025, with BlackRock's IBIT holding $80 billion in Bitcoin assets.

What does McClurg think about other cryptocurrencies? 

McClurg filed ETF applications for XRP, Sui, Litecoin, and other alternatives, suggesting he sees value in newer blockchain technologies over established ones like Ethereum.

When does McClurg expect the next bear market? 

McClurg predicts a bear market will begin in 2026, following Bitcoin's expected surge to $150,000 in 2025.