Why Standard Chartered Bank believes Ethereum will reach $25,000 by 2028

Standard Chartered Bank raised its year-end price target for Ethereum from $4,000 to $7,500, citing improved industry conditions and increased demand from corporate treasuries. The bank also raised its 2028 forecast from $7,500 to $25,000, according to Reuters. Ethereum was trading around $4,679 on Wednesday, a level last seen in November 2021.

The adjustment is a stark reversal from March, when Standard Chartered lowered its 2025 forecast from $10,000 to $4,000. At the time, the bank attributed the downward revision to structural headwinds, including a diversion of revenue to Layer 2 networks like Coinbase's Base (which it estimated could reduce Ethereum's market capitalization by approximately $50 billion) and a slowdown in on-chain economic activity.

Recent developments appear to have changed this assessment. Since June, corporate treasuries have accumulated a significant portion of Ethereum's supply, a figure Standard Chartered estimates could ultimately reach 10%. The bank cited the rise of Ethereum treasury firms and increased industry participation as catalysts for the upward price target. This trend mirrors Bitcoin's early adoption patterns, when corporate balance sheet allocations influenced market perception and liquidity.

The current price environment reflects Ethereum's renewed momentum after a prolonged period below its previous all-time high. As it returns to late 2021 levels, widespread institutional activity in staking, DeFi participation, and infrastructure development is likely to bolster demand stability.

While Standard Chartered’s adjusted targets are forward-looking and subject to market volatility, the market narrative they paint suggests long-term holders and treasury managers may play a more central role in supporting prices.

Ethereum's market position continues to be shaped by its dual role as both a settlement layer and the foundation of the Layer 2 ecosystem. Previous concerns about fee leakage from scaling plans remain, but the bank's latest forecast suggests that new sources of demand could offset some of the pressure.

Corporate holdings may lock up a larger portion of supply, which, intertwined with staking returns and the attractiveness of Ethereum as an interest-bearing asset, adds a dimension beyond speculative trading to the investment logic.

Standard Chartered's latest forecast adjustments capture the evolving interaction between Ethereum's technical landscape and its broader adoption trends. Based on assumptions of continued enterprise engagement and ecosystem activity, the 2025 target has been raised from $4,000 to $7,500, and from $7,500 to $25,000 in 2028, placing Ethereum in a higher valuation range.

Whether these trends can be sustained will depend on regulatory clarity, competitive pressure from other smart contract platforms, Ethereum’s development roadmap, and future protocol upgrades. For now, the bank’s forecast reflects renewed confidence in the asset’s medium- to long-term trajectory.