Ethereum assets held by treasury companies are becoming an attractive investment channel, providing superior yields compared to ETH ETF products, while establishing a new standard for institutional markets.
In addition to the ability to yield through staking and various DeFi strategies, businesses owning Ethereum also establish a new public standard, leading institutional capital flows even amidst significant market fluctuations.
MAIN CONTENT
Standard Chartered confirms that ETH in corporate treasuries outperforms ETFs due to yields from staking.
The total amount of ETH held by businesses has increased 18 times in less than 3 months, marking a new era of institutional investment.
Analysts predict that ETH could reach $16,000 if the ETH/BTC ratio returns to historical peaks.
What is Ethereum treasury?
Ethereum treasury is the total amount of ETH that companies and public organizations hold as part of their reserve assets, outside of ETFs and derivative products. Companies can use ETH treasury for investment, staking, or participating in DeFi activities.
According to a recent report from Standard Chartered, businesses holding ETH as treasury have created a new investment wave, expanding the accumulation channel for digital assets and leveraging superior yields compared to traditional ETF products.
Why does Standard Chartered assess ETH treasury as 'investable'?
According to Geoff Kendrick, head of digital asset research at Standard Chartered, corporate ETH treasuries are valued higher than ETH ETFs due to their ability to generate yields through staking and DeFi strategies.
ETH assets at treasury companies are now 'investable', offering additional and more attractive yields compared to ETH ETFs.
Geoff Kendrick, Head of Digital Asset Research, Standard Chartered, August 2025, (Standard Chartered Report)
Unlike ETH ETFs – which only serve as passive holdings, companies can participate in staking with yields of up to 3% per year and implement other yield-generating strategies from Ethereum’s vast DeFi ecosystem.
This allows ETH in treasuries to be an asset that can both appreciate in value due to market fluctuations and generate continuous passive income for institutional investors.
What does staking yield mean for institutional ETH investors?
The 3% staking yield from Ethereum provides a periodic income, significantly different from traditional ETH ETF funds that have not been allowed to participate in staking.
Institutional investors not only expect ETH prices to rise but also optimize total returns by simultaneously receiving additional staking rewards and applying yield farming and lending strategies on the DeFi platform.
Thus, ETH treasury serves as both a reserve asset and a source of active yield, allowing businesses to remain flexible amidst market fluctuations and increase their attractiveness compared to traditional channels.
Treasury ETH and ETF ratio: What stands out?
As of June 2025, companies own a total of 1.6% of the ETH supply – equivalent to the holding ratio of the entire ETH ETF market, according to Standard Chartered.
This is a significant milestone as institutional capital flows are not only stopping at indirect investment channels (ETFs) but are accelerating to flow directly into digital assets on a large scale, creating a notable capital migration wave.
Comparing the holding ratios between corporate treasuries and ETFs also reflects the growing reliability and influence of digital assets in the portfolios of global scale enterprises.
How does Standard Chartered forecast the end-of-year ETH price?
Although recognizing long-term growth potential, Standard Chartered still maintains its ETH price forecast at $4,000 by the end of 2025 – reflecting caution in the context of significant volatility and competitive pressure from other assets.
Although institutional treasury growth is strong, the price of $4,000 for ETH is considered reasonable for the end of this year.
Geoff Kendrick, Standard Chartered, August 2025, Standard Chartered Report
This is the expected price level based on macro factors, supply and demand, current institutional capital flows, and market recovery prospects after a deep correction in early 2025.
Compared to long-term potential, this forecast leans towards expectations of stability rather than volatility, yet still reflects ETH's resilience in institutional investment portfolios.
Tom Lee forecasts ETH price to reach $16,000: What’s the reason?
Tom Lee, President of BitMine – the largest ETH treasury in the world, and CEO of FundStrat – has stated that ETH is in a moment of explosion similar to Bitcoin in 2017.
If the ETH/BTC ratio returns to the peak of 0.14 in 2021, ETH will reach a value of $16,000. This is a completely reasonable scenario as ETH is now a superior store of value compared to 2021.
Tom Lee, President of BitMine & CEO of FundStrat, interview with CNBC August 2025 (CNBC)
According to TradingView data, the ETH/BTC ratio once peaked above 0.14 in 2017 and reached 0.08 in 2021. With the current BTC price, if ETH reaches similar conversion ratios, the price could go up to $16,000 as proposed by Tom Lee.
This forecast reflects strong confidence in the trend of attracting institutional capital flows as well as the sustainable growth potential of Ethereum, especially as the DeFi ecosystem continues to expand.
Fluctuations in the ETH/BTC ratio and the implications for ETH price forecasts
The ETH/BTC index reflects the relative price strength between Ethereum and Bitcoin. History has noted this index surging past 0.14 in 2017, while the high in 2021 was 0.08.
Given the current market state, if ETH returns to its peak ratio, the absolute value of each ETH could rise to $9,500 at the 0.08 level, or $16,000 at the 0.14 level as forecasted by Tom Lee. This emphasizes that ETH price charts depend not only on ETH itself but also on the attractiveness of the entire digital asset ecosystem.
Experts believe that expectations for institutional capital flows are a key factor determining the upward trend of the ETH/BTC ratio, especially in the context of Bitcoin experiencing significant sell-offs while ETH maintains stable demand due to treasury momentum.
The wave of ETH treasury investment and the strong rise since June 2025
Since June 2025, the amount of Ethereum held by public companies has increased from 47,000 ETH to 826,000 ETH – equivalent to 18 times in less than 3 months, according to data from The Block.
This wave of ETH accumulation provides ETH with a new source of demand from businesses while directly creating competition with the successful Bitcoin treasury investment model used by MicroStrategy and Metaplanet.
Time Number of ETH held by businesses Growth rate May 2025 47,000 ETH – August 2025 826,000 ETH 18 times
This growth not only expands institutional investment channels into ETH but also reinforces confidence in the long-term sustainability of Ethereum as a strategic reserve asset.
What are the risks when businesses hold ETH treasury?
Although ETH treasury offers attractive yields and superior investment efficiency, financial risks – especially the use of leverage (debt leverage) – remain issues that experts warn about. Significant market fluctuations could push businesses into high-risk situations if asset management strategies are not well controlled.
The public disclosure of digital asset ownership data by businesses is establishing a new standard. Companies integrating digital assets today will shape corporate standards in the coming years.
Shawn Young, Head of Analytics, MEXC, interview with AMBcrypto August 2025 (AMBcrypto)
The level of transparency in financial reporting, risk management of leverage, and monitoring systems for capital flows are vital factors that help businesses leverage benefits without falling into unexpected liquidity shocks.
How is institutional capital flowing into Ethereum?
Despite Bitcoin and Solana experiencing significant capital outflows recently, institutional capital continues to flow steadily into ETH. According to Glassnode, total capital inflow into ETH remains stable, helping ETH maintain good demand in the market despite large fluctuations.
This trend sets the stage for ETH to lead the recovery process if the overall market turns positively. Additionally, as ETH ETF products remain restricted in staking, ETH treasury has a long-term competitive advantage as institutional investors seek active yields.
This model also prompts businesses to compete on standards of transparency while playing a key role in building trust with shareholders and traditional investors.
Short-term results: ETH price and business performance shining through
At the time of the latest update, ETH is trading around $3,700, up 2.8% within 24 hours. Notably, BMNR shares of BitMine rose by up to 15.6% and the ETHA fund of BlackRock also increased by 3%.
This performance indicates that BMNR – the largest ETH treasury business – is leading the profitability rate, significantly outperforming ETF products within just a few hours of recent trading.
This is a positive signal affirming the flexibility and creativity of the direct asset holding model compared to derivative investment channels or traditional ETH-related stocks.
Will Ethereum treasury become the new corporate investment standard?
With the growth rate of ETH assets, transparency in financial reporting, and superior yields, ETH treasury is gradually becoming the new standard for global public companies.
Public institutions holding ETH can help shape a new corporate standard in the next decade – providing strong momentum for the development of the entire digital asset space.
Shawn Young, MEXC, AMBcrypto 2025
When businesses compete transparently, actively seek yield, and integrate Ethereum into long-term financial strategies, this trend is likely to spread to many other traditional sectors, driving digital transformation and global DeFi integration.
Comparison: ETH treasury and ETH ETF – Which is the optimal choice?
Criteria ETH treasury ETH ETF Staking/DeFi yield Maximization (Staking, farming…) Not supported for staking Active asset management Yes, flexible investment Passive Transparency in ownership reporting High, public in media High, legal regulations Long-term price growth potential Sustainable, ahead of institutional capital flows Limited due to only holding passively Asset management risks Can be high if leverage is used Low, due to tight regulation
The table above shows that corporate ETH treasury outperforms in terms of performance and active yield, but carries governance risks if capital usage strategies are not effectively controlled. Meanwhile, ETH ETFs are safer but lack the active management and staking yields.
Practical lessons from the wave of public Ethereum accumulation
The increase in ETH held by public companies by 18 times in 3 months has become a prominent phenomenon, highlighting institutional confidence in Ethereum as a strategic reserve investment channel.
The very attraction of the ability to generate dual yields (capital appreciation + staking income) along with financial transparency has helped the ETH treasury establish a new standard for the digital asset industry and the global financial market.
The success of this model is expected to continue to lead institutional capital flows in the future, while also affecting the asset allocation decisions of large-scale traditional enterprises.
What scenarios exist for ETH price in 2025-2026?
Based on predictions from CEOs, experts, and treasury capital flows, ETH could aim for the $4,000, $9,500, or even $16,000 marks if the ETH/BTC ratio and DeFi appeal continue to be maintained.
The key factor will be the size of institutional capital flows and the expansion of active yield-generating solutions on the Ethereum platform. If successful, ETH is likely to emerge as the corporate reserve standard for the entire digital asset market in the next 5-10 years.
Institutional capital flows steadily into ETH – even when other assets decline, demonstrating confidence in the future of DeFi infrastructure.
Glassnode, data August 2025 (Glassnode Report)
Frequently Asked Questions
What benefits do businesses with ETH treasury bring?
Businesses holding ETH treasury leverage staking yields, actively manage assets, and publicly disclose ownership to increase transparency with shareholders and are seen as leading the new standard for the entire industry.
Compared to ETH ETF, what makes ETH treasury more attractive?
ETH treasury allows businesses to receive staking yields, actively invest, and optimize total returns, while ETH ETFs are limited in active functionality.
How reliable is the ETH price forecast for 2025?
Forecasts range from $4,000 (Standard Chartered), $9,500 to $16,000 (Tom Lee, BitMine) depending on the strength of institutional capital flows and the appeal of ETH-BTC.
What are the biggest risks when businesses accumulate ETH?
The biggest risk is strong price volatility, financial leverage risk management, market liquidity, and compliance with transparent financial reporting.
What is the current yield of ETH staking?
About 3% per year, helping to increase total returns for businesses beyond the advantage of asset appreciation.
Who is leading the wave of ETH treasury investment?
BitMine, public companies, transparent companies holding ETH treasury – according to data from The Block and Standard Chartered.
Should we compare ETH treasuries with the Bitcoin investment model?
Yes, because both models aim towards the standard of corporate reserve assets, but ETH is superior due to its ability to generate active yields through staking and DeFi.
Source: https://tintucbitcoin.com/cong-ty-hieu-qua-hon-etf-ethereum/
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