Standard Chartered Bank: Ethereum Treasury Company is Now 'Highly Worth Investing', Superior to US Spot Ethereum ETF

On August 7th, according to The Block, Geoffrey Kendrick, Global Head of Digital Asset Research at Standard Chartered Bank, stated that Ethereum Treasury is now "very worth investing in" and is more attractive to investors than US spot Ethereum ETFs. The net asset value (NAV) multiple of Ethereum Treasury Company, which is the market value divided by the value of ETH held, has now "begun to normalize" and is expected to remain above 1, making it a better investment target than US spot ETH ETFs. Kendrick said, 'I don't think there's a reason for the NAV multiple to be lower than 1.0, because I believe these companies provide investors with opportunities for regulatory arbitrage.'. With the normalization of NAV multiples, Ethereum treasury companies can provide better opportunities for Ethereum price appreciation, staking returns, and per share ETH growth than US spot ETH ETFs - which currently cannot participate in staking or decentralized finance (DeFi). Kendrick pointed out that since June, Ethereum fund management companies have purchased 1.6% of all circulating ETH, which is comparable to the purchasing speed of ETH ETFs during the same period. This update was released in his report last week, when he predicted that the ETH held by ETH fund management companies could grow to 10% of all circulating ETH - equivalent to 10 times their current holdings.