Standard Chartered Sees Corporate Buys Driving ETH Past $4,000

Banking giant Standard Chartered has projected a possible rise in Ethereum (ETH) prices well beyond the $4,000 level, citing rising institutional interest as a key factor. Geoff Kendrick, head of digital assets research at the bank, stated that corporate ETH purchases are now beginning to surpass those of Bitcoin.

to Kendrick, the shift is fueled by restrictions on direct cryptocurrency investment, prompting firms to favor Ethereum in their allocation strategies. JinSe Finance reported on the insights, highlighting Ethereum’s expanding presence in institutional portfolios.

The bank is backing up its bullish outlook with action, having recently launched spot trading services for Bitcoin and Ethereum for institutional clients through its UK subsidiary. This move allows clients to buy and sell the underlying assets directly, marking a significant step beyond futures-based products. Standard Chartered has already invested heavily in digital asset infrastructure through firms like Zodia Custody.

The new offering is designed to meet the surging demand from institutional clients. A recent report by KPMG found that 91% of hedge funds are either already invested in digital assets or plan to be within five years. Kendrick described the new spot desk as a direct response to this demand for regulated market access.

Ethereum traded at at the time of writing, down a slight 0.47% over the past 24 hours. The session saw price movement between $3,750 and $3,880, with volatility picking up during late U.S. trading hours.

Despite the slight dip, ETH’s trading volume surged 19.33% to reach $37.34 billion. Additionally, market capitalization was recorded at $464.84 billion, with the circulating supply holding at 120.71 million ETH. The volume-to-market cap ratio stood at 8.07%, reflecting heightened activity from market participants.