Standard Chartered Bank: Ethereum Treasury Company Investment Value Surpasses US Spot ETH ETF

According to Geoffrey Kendrick, Head of Digital Asset Research at Standard Chartered Bank, Ethereum treasury companies have acquired approximately 1.6% of circulating ETH since June, a pace comparable to ETH spot ETFs. Their market capitalization to net asset value ratios (NAV) have returned to normal and remain above 1, demonstrating their "high investment value." He noted that these companies' investment appeal surpasses that of US spot ETH ETFs due to their involvement in staking and DeFi operations. SharpLink Gaming (SBET) is a representative example of this sector. Kendrick predicts that ETH treasury companies could ultimately hold 10% of circulating ETH, a faster growth rate than Bitcoin treasury companies, reflecting the widespread institutional acceptance of ETH as a corporate reserve asset.