Standard Chartered Sees Corporate Buys Driving ETH Past $4,000

ETH institutional buying now surpasses BTC due to crypto investment restrictions. Standard Chartered launches spot ETH and BTC trading via UK subsidiary. ETH price holds above $3,800 amid 19% surge in 24H trading volume. Banking giant Standard Chartered has projected a possible rise in Ethereum (ETH) prices well beyond the $4,000 level, citing rising institutional interest as a key factor. Geoff Kendrick, head of digital assets research at the bank, stated that corporate ETH purchases are now beginning to surpass those of Bitcoin. According to Kendrick, the shift is fueled by restrictions on direct cryptocurrency investment, prompting firms to favor Ethereum in their allocation strategies. JinSe Finance reported on the insights, highlighting Ethereum’s expanding presence in institutional portfolios. Related: Ethereum Gains Favor as a Corporate Treasury Asset Beyond Bitcoin Standard Chartered launches a spot ETH trading desk The bank is backing up its bullish outlook with action, having recently launched spot trading services for Bitcoin and Ethereum for institutional clients through its UK subsidiary. This move allows clients to buy and sell the un… The post Standard Chartered Sees Corporate Buys Driving ETH Past $4,000 appeared first on Coin Edition .

Source: Coin Edition