Standard Chartered Bank said corporate entities that store Ether on their balance sheets could eventually control one-tenth of the cryptocurrency’s total supply, a ten-fold jump from today’s levels. In a note dated 29 July, Geoff Kendrick, the bank’s global head of digital-assets research, estimated that specialised “Ethereum treasury” companies have accumulated roughly 1% of all ETH—valued at nearly US$9 billion—after only two months of rapid buying.

Kendrick wrote that the pace of accumulation is running at double the rate seen among Bitcoin-focused treasuries and could continue as firms seek staking rewards and access to decentralised-finance markets. He added that if inflows persist, Ether could trade above US$4,000 by the end of 2025, surpassing the bank’s existing price forecast.

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