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Standard Chartered analyst noted Ethereum treasuries are more established, generate staking yields, and appear more resilient, while Bitcoin firms face saturation and consolidation pressures. Ethereum $ETH could emerge as the biggest winner from the rise of digital asset treasuries (DATs), with analysts at Standard Chartered arguing that the proof-of-stake blockchain is better positioned than either Bitcoin or Solana as market pressures intensify. In a report published Monday, Geoffrey Kendrick, the bank’s global head of digital assets research, said Ethereum treasuries are set to play a larger role in driving demand for the token compared with their Bitcoin and Solana counterparts. The assessment comes as publicly listed companies that hold cryptocurrencies on their balance sheets face increasing pressure from falling market valuations. Standard Chartered Sees Consolidation Ahead in Bitcoin-Focused DATs Digital asset treasuries have been one of the defining investment trends of 2025, helping push crypto prices to fresh highs earlier in the year. These firms rely on trading at a premium to the value of their holdings, known as market NAV (mNAV), to raise funds for further purchases. But in recent weeks, mNAVs for many DATs have slipped below 1, reducing their ability to buy additional tokens and triggering concerns about sustainability. Kendrick argued that this phase would mark a shakeout in the sector, with success depending on three factors: the ability to raise cheap funding, scale that attracts liquidity, and the generation of staking yield. He noted that Ethereum and Solana treasuries have an advantage over Bitcoin in this regard, as both networks offer staking rewards. “We think ETH and SOL DATs should be assigned higher mNAVs than BTC DATs due to staking yield,” Kendrick said. The analyst also noted market saturation among Bitcoin-focused firms. Inspired by Strategy’s aggressive accumulation of BTC, nearly 90 companies have launched similar models, collectively holding more than 150,000 BTC, six times more than at the start of the year. With valuations under pressure, Standard Chartered expects consolidation in this space, suggesting that acquisitions of smaller DATs by larger players could become more common. Such moves, however, would represent coin rotation within the sector rather than new demand for Bitcoin. Ethereum treasuries, by contrast, continue to expand. Kendrick said companies holding ETH have already accumulated about 3.1% of the cryptocurrency’s circulating supply since June. BitMine Immersion Technologies, listed on the NYSE American, is currently the largest ETH-focused DAT with more than 2 million ETH, representing about 5% of supply. The firm is still only one-third of the way to its target and has continued buying despite the broader market pressure. Solana treasuries are smaller and less developed, with about 0.8% of the token’s supply held by DATs. Questions also remain over regulatory treatment, with reports suggesting Nasdaq-listed firms may need shareholder approval before allocating to crypto. Kendrick noted that this leaves Ethereum in a stronger relative position. According to Standard Chartered, DATs already hold 4% of all Bitcoin, compared with 3.1% of Ethereum and 0.8% of Solana. The bank sees Ethereum treasuries as better placed to maintain demand, thanks to staking rewards, a clearer regulatory outlook, and aggressive accumulation strategies. Ethereum is currently trading at $4,492, down 2.6% on the day but still up more than 150% since July, following institutional adoption and ETF inflows. Despite recent volatility, Kendrick concluded that DAT activity remains a more positive driver for ETH than for BTC or SOL going forward. Ethereum Treasury Firms Gain Ground as ETFs Attract Record Inflows Standard Chartered has doubled down on its view that Ethereum treasury companies may offer stronger upside than spot exchange-traded funds (ETFs). Kendrick said in August that firms buying Ether (ETH) for balance-sheet strategies are becoming increasingly attractive to investors as their net asset value (NAV) multiples normalize. According to Kendrick, the NAV ratios of treasury firms, market capitalization relative to ETH holdings, are now stabilizing near 1.0. This adjustment, he argued, makes them “very investable” for investors seeking ETH exposure, particularly as these companies provide a form of regulatory arbitrage compared with direct crypto ownership. He pointed out SharpLink Gaming, whose NAV multiple peaked at 2.5 before falling closer to parity, and BitMine Immersion Technologies, the sector leader with 2.15 million ETH ($9.7 billion) on its books. Together, Ethereum treasury companies now hold nearly 5 million ETH, or about 4.1% of the circulating supply, according to industry trackers. That figure rivals the holdings of U.S.-listed spot ETFs, which collectively manage 6.69 million ETH ($30.2 billion), equal to 5.5% of supply. BlackRock’s ETHA leads the pack with $17.25 billion in assets.

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Bank of England’s Proposed Stablecoin Ownership Limits are Unworkable, Say Crypto Groups: Report

For new comers in crypto Tomorrow the Fed meeting will happen maybe they cut 25 or 50 basis points a basis point means 0.01 percent so 25 basis points means 0.25 percent and 50 basis points means 0.50 percent if they cut the rate gold stocks and crypto can get some support because borrowing becomes cheaper and people put more money in risky assets but the market reaction is not always the same so manage risk this decision will be announced at 2 pm New York time and in Pakistan you will get the update around 11 pm In Pakistan time tomorrow night at 11 pm the Fed will announce its interest rate decision after that at 11 30 pm Jerome Powell will start his press conference Jerome Powell is the head of the US central bank called the Federal Reserve the Fed decides interest rates and tries to keep the economy balanced in the press conference if Powell says inflation is still high and rates may stay higher or even go up that is called hawkish it means markets like gold and crypto could feel pressure and fall if he says the economy is slowing the job market is weak and rates may come down that is called dovish it means markets can get support and move up while he answers technical questions listen for words like inflation still high further tightening higher for longer or inflation cooling cuts possible these words show the mood of the market the simple point is not only the rate cut matters but also Powells tone and words to guess if markets will rise long term or may fall for now ——-///// $BTC $ETH $LTC $XAI

🚨 BIG WEEK AHEAD: Key Events That Could Shake Crypto & Markets 🚨 Get ready, traders! This week is packed with high-impact events that could drive major moves in crypto and traditional markets. Here’s what you need to know: 📅 Sept 17 – Fed Rate Cut Decision + Powell Speech All eyes will be on the Fed as markets await hints about future monetary policy. ✅ If Powell signals more cuts ahead → Risk-on mode could ignite, boosting altcoins 🚀 ❌ If the tone is hawkish → Brace for potential short-term pressure on BTC and alts. 📅 Sept 18 – US Jobless Claims A stronger-than-expected labor market could reduce the urgency for rate cuts, while weak data may fuel expectations for looser policy. 📊 Keep an eye on this as a secondary catalyst. 📅 **Sept 19 – $4.9T Options Expiry + BoJ Rate Decision** ⚡ **Massive Options Expiry**: Nearly $5T in contracts expire—this could create short-term volatility and possible bearish pressure on BTC and majors. 🇯🇵 Bank of Japan Rate Decision: Another major central bank in focus. A surprise cut could affect global liquidity and risk sentiment. 🎯 What This Means for Crypto: · A dovish Fed = 🟢 GOOD for alts & Bitcoin · Options expiry = 🔴 Short-term turbulence likely · BoJ surprise = 🌍 Global liquidity ripple effect 💡 Trading Tip: Stay nimble this week. Use volatility to your advantage, but manage risk—especially around options expiry. If Powell hints at more cuts, consider scaling into alts with strong fundamentals. Let’s navigate this together! What’s your game plan? Drop your thoughts below 👇 \#Trading #Crypto #Fed #Macro #OptionsExpiry #Investing #Bitcoin #Alts