Standard Chartered: Treasury companies may purchase 10% of total ETH supply

According to #StandardChartered , Ethereum treasury companies have purchased 1% of the total ETH supply in just two months. Analyst Geoff Kendrick predicts this holding could increase tenfold, reaching 10% of the total ETH supply, thereby pushing the price above $4,000.

Record accumulation rate and benefits for institutions

As of now, the treasuries #ETH have held nearly $9 billion in ETH, equivalent to nearly 2% of the total supply. This accumulation rate is twice as fast as that of Bitcoin treasury companies. The two leading companies are BitMine (with over $2 billion in ETH) and SharpLink ($1.3 billion).

According to Kendrick, the purchase of ETH by institutions is very attractive due to the ability to earn staking rewards and utility in DeFi. However, analysts at Bernstein have also pointed out the accompanying risks, such as taking several days to unstake ETH and risks from smart contracts when participating in DeFi.

Despite the risks, Kendrick believes that the growth potential of ETH treasury companies is even greater than that of Bitcoin, especially from the perspective of "regulatory arbitrage." He predicts they could own 10% of the total ETH supply, a tenfold increase from the current level.

These developments indicate that institutional interest in Ethereum is becoming increasingly strong, and the influx of capital could play a crucial role in driving the price of ETH beyond significant milestones in the future. #anhbacong