- 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 underlying assets directly, marking a significant step beyond futures-based products. Standard Chartered has already invested heavily in digital asset infrastructure through firms like Zodia Custody.
Related: Standard Chartered Rolls Out Bitcoin and Ether Spot Trading for Institutional Clients
The new offering is designed to meet the surging demand from institutional clients. A recent report by KPMG found that 91% of hedge funds are either already invested in digital assets or plan to be within five years. Kendrick described the new spot desk as a direct response to this demand for regulated market access.
Market Reacts Amid Trading Volume Spike
Ethereum traded at $3,850.88 at the time of writing, down a slight 0.47% over the past 24 hours. The session saw price movement between $3,750 and $3,880, with volatility picking up during late U.S. trading hours.
Despite the slight dip, ETH’s trading volume surged 19.33% to reach $37.34 billion. Additionally, market capitalization was recorded at $464.84 billion, with the circulating supply holding at 120.71 million ETH. The volume-to-market cap ratio stood at 8.07%, reflecting heightened activity from market participants.
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