Standard Chartered’s Geoff Kendrick: Ethereum (ETH) Still Undervalued as Treasury & ETFs Hoard 4.9% — $7,500 Year-End Call

CoinDesk reported Aug. 26 that Geoff Kendrick, Global Head of Digital Assets Research at Standard Chartered, reiterated his assessment that Ethereum (ETH) remains undervalued at current market levels. He highlighted that the ETH Treasury has purchased about 2.6% of circulating ETH since early June, and when combined with ETF inflows totals roughly 4.9% of supply—an appreciable portion affecting available liquidity. Kendrick noted this accumulation as a meaningful driver of market dynamics and maintained his prior view that the Treasury could eventually control around 10% of circulating ETH. While acknowledging near-term price volatility, he continued to forecast an end-of-year target of $7,500 for ETH, describing recent declines below $4,500 as a calibrated entry opportunity for investors.