Standard Chartered Highlights Undervaluation in Ether and ETH Treasury Stocks After Sharp Decline

Standard Chartered: ETH Dip Presents Buying Opportunity as Treasury Firms, ETFs Keep Accumulating

Ether (ETH) and companies holding it on their balance sheets remain undervalued despite the recent market downturn, according to Standard Chartered’s head of digital assets research Geoff Kendrick.

Kendrick said ETH treasury companies have acquired 2.6% of the circulating supply since June, while ETFs added another 2.3%, bringing combined purchases to nearly 5% of supply. That demand recently pushed ETH to a new all-time high of $4,955 before this week’s correction.

Despite ETH falling below $4,500 in recent sessions, Kendrick kept his year-end price target of $7,500, framing the pullback as a favorable entry point. He also noted that valuations of ETH treasury firms such as Sharplink Gaming and Bitmine Immersion have declined to levels below MicroStrategy (MSTR), even though ETH holdings earn a 3% staking yield that bitcoin treasuries do not. Sharplink’s stock buyback pledge if its NAV multiple dips below 1.0 provides further support, he added.

ETFs Keep Attracting Flows

Investor appetite for ETH ETFs remains strong. Despite Monday’s 8% ETH drop, funds still saw $444 million in inflows, led by BlackRock’s iShares Ethereum Trust (ETHA) with $315 million, according to Farside Investors. That followed $338 million in inflows Friday, as Powell’s dovish Jackson Hole remarks lifted demand.