Standard Chartered said corporate companies that hold Ethereum on their balance sheets now offer a more attractive entry point to the world’s second-largest cryptocurrency
Standard Chartered said corporate companies that hold Ethereum on their balance sheets now offer a more attractive entry point to the world’s second-largest cryptocurrency than recently launched U.S. spot ETH exchange-traded funds.
In a note dated Wednesday, digital-assets researcher Geoffrey Kendrick wrote that the net-asset-value multiples of listed “Ethereum treasuries” have normalised to just above 1, giving investors fuller exposure to the underlying coin along with staking rewards that ETFs cannot provide.
Kendrick highlighted that buying by treasury firms has accelerated sharply. Since the start of June, those companies and the nine U.S. spot funds have each acquired roughly 1.6% of all ETH in circulation, underscoring treasuries’ growing influence on market flows. He added that ETH-focused treasuries are now outpacing comparable Bitcoin-holding corporations in terms of fresh inflows.
Among the largest holders, sports-betting technology group SharpLink owns about US$1.9 billion in ETH, while mining-services provider BitMine Immersion controls nearly US$3 billion. Standard Chartered expects continued accumulation by such firms to bolster ETH demand and sees their shares as the “better asset to buy” for investors seeking Ethereum price appreciation.
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Source: https://thedefiant.io/news/markets/standard-chartered-favours-ethereum-treasury-stocks-over-u-s-spot-etfs-285cd1eb