Ethereum Treasuries Absorb Nearly 5% Supply Since June, Marked Undervaluation Signals Bullish Outlook

Standard Chartered's digital assets research chief Geoffrey Kendrick and other analysts highlight a strong bullish outlook for Ethereum, driven by increased institutional demand and significant accumulation by digital asset treasury companies and spot ETFs. Since June, these entities have absorbed nearly 5% of circulating ETH, with treasury firms expected to hold up to 10%, contributing to Ethereum's recent all-time high near $4,955 and supporting Kendrick's year-end price target of $7,500. Major buyers include BitMine Immersion, which aims to control 5% of ETH supply, and SharpLink Gaming, with both firms trading at discounts relative to Bitcoin treasury companies despite earning staking yields unavailable to Bitcoin holders. The inflow into Ethereum ETFs recently doubled that of Bitcoin ETFs, signaling strong institutional confidence and buying on price dips rather than sell-offs. Analysts argue that Ethereum and Ethereum treasury firms remain undervalued, noting that treasury companies' ability to earn staking rewards and participate in decentralized finance presents a more attractive investment than Bitcoin-focused equivalents. Kendrick further envisions Ethereum reaching $25,000 by 2028, underscoring a long-term bullish perspective amid ongoing market consolidation and institutional accumulation.