Ether Treasury Holdings May Reach 10% of Circulating Supply, Says Standard Chartered

Standard Chartered Sees Ether Treasury Holdings Climbing to 10% of Total Supply

Institutional demand for ether (ETH) is accelerating, with corporate treasuries now holding approximately 1% of the total circulating supply, according to a new report from Standard Chartered. The bank forecasts that this figure could eventually rise tenfold to 10% as companies increasingly allocate ETH to their balance sheets.

The report highlights that this surge in corporate accumulation rivals the record inflows into newly launched spot ether exchange-traded funds (ETFs), reflecting a broader institutional shift toward ETH as both a store of value and a yield-generating asset.

Recent adopters of ether treasury strategies include firms such as BitMine Immersion Technologies (BMNR) and SharpLink Gaming (SBET), both of which are leveraging staking mechanisms to generate passive income.

Standard Chartered’s global head of digital assets research, Geoff Kendrick, noted that the growing appetite for ETH may be contributing to its relative strength against bitcoin (BTC). The ETH/BTC ratio has climbed from 0.018 in April to 0.032 in July.

Kendrick added that ether’s unique ability to generate staking rewards—currently yielding around 3%—and access decentralized finance (DeFi) opportunities makes it structurally more attractive than bitcoin for treasury purposes.

In jurisdictions where regulatory constraints limit direct crypto access, ether’s utility and staking benefits are giving it an edge, the report suggests. Companies seeking crypto exposure are increasingly drawn to ETH as a capital-efficient, yield-bearing digital asset.

Standard Chartered reiterated its $4,000 year-end price target for ETH. At the time of publication, the asset was trading around $3,830.