Reiterating that Ethereum is one of the most aggressive targets on the market, Tom Lee told attendees at Binance Blockchain Week on December 4 that ETH could eventually trade at $62,000 as it becomes the core infrastructure of tokenized finance.
“Now that we’ve talked about cryptocurrencies, let me explain why Ethereum is the future of finance,” Lee said on stage. He identified 2025 as Ethereum’s “1971 moment,” drawing direct parallels to when the U.S. dollar left the gold standard and sparked a wave of financial innovation.
Lee’s paper on Ethereum
“In 1971, the dollar went off the gold standard, and 1971 inspired Wall Street to create financial products that guaranteed the dollar would become the reserve currency,” Lee argued. “In 2025, everything will be tokenized. So it’s not just the dollar that will be tokenized, but stocks, bonds, and real estate.”
In his view, this change positions ETH as the primary settlement and execution layer for tokenized assets. “Wall Street is once again taking advantage of that and trying to create products on top of smart contract platforms. And where they’re building this is on Ethereum,” he said. Lee cited current real-world asset experiments as early evidence, noting that “the vast majority of them are built on Ethereum,” adding that “Ethereum has won the smart contract war.”
Lee also emphasized that ETH’s market behavior does not yet reflect its structural role. “You know, as I shaded here, ETH has been range-bound for five years, but it’s starting to break out,” he told the audience, explaining why he was “deeply involved in Ethereum by making Bitmine an ETH treasury company, because I saw this breakout coming.”
The core of his valuation case is expressed through the ETH/BTC ratio. Lee expects Bitcoin to skyrocket in the near term, saying, “I think Bitcoin will reach $250,000 within a few months.” From there, he derived two important ETH scenarios.
First, if the ETH/BTC price relationship simply returns to its historical average, he sees significant upside potential. “If the price ratio of ETH to Bitcoin returns to its eight-year average, Ethereum will be at $12,000,” he said. Second, a more aggressive case in which ETH rises by a quarter of Bitcoin’s price would bring his long-time target of $62,000 to the surface. “If it’s 0.25 compared to Bitcoin, that’s $62,000.”
🔥 Tom Lee asks for $62,000 $ETH
“I think Ethereum is going to be the future of finance, the future of payment rails. At 0.25 compared to Bitcoin, it’s $62,000. Ethereum at $3,000 is grossly undervalued.” pic.twitter.com/VydvLou9IE
— CryptosRus (@CryptosR_Us) December 4, 2025
Lee connects these ratios directly to the tokenization story. “If 2026 is about tokenization, that means the utility value of Ether should be rising. So we should be paying attention to this ratio,” he told the audience, arguing that valuations should track the growing demand for ETH block space and its role as a “future payment rail.”
He concluded with a scathing assessment of current levels. “Of course, I think $3,000 Ethereum is grossly undervalued.”
At the time of writing, ETH was trading at $3,128.
Featured image created with DALL.E, chart on TradingView.com
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