Standard Chartered Bank said corporate entities that store Ether on their balance sheets could eventually control one-tenth of the cryptocurrency’s total supply, a ten-fold jump from today’s levels. In a note dated 29 July, Geoff Kendrick, the bank’s global head of digital-assets research, estimated that specialised “Ethereum treasury” companies have accumulated roughly 1% of all ETH—valued at nearly US$9 billion—after only two months of rapid buying. Kendrick wrote that the pace of accumulation is running at double the rate seen among Bitcoin-focused treasuries and could continue as firms seek staking rewards and access to decentralised-finance markets. He added that if inflows persist, Ether could trade above US$4,000 by the end of 2025, surpassing the bank’s existing price forecast. Among the largest corporate holders are Peter Thiel-backed BitMine, with more than US$2 billion in ETH, and SharpLink, which has amassed about US$1.3 billion. While Standard Chartered argues the strategy offers regulatory arbitrage benefits, Bernstein analysts cautioned that unstaking delays and smart-contract risks could expose balances to volatility and operational hazards.