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Standard Chartered Raises Year-End Ether Forecast to $7,500

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Standard Chartered has raised its year-end target for ether to $7,500, up from $4,000, citing stronger industry engagement and increased holdings of the cryptocurrency in recent months. The new forecast represents a nearly 60% premium over ether’s recent high of $4,700.

Ether, the world’s second-largest cryptocurrency, offers staking opportunities, allowing holders to earn rewards by supporting the Ethereum network, unlike Bitcoin which relies solely on price appreciation. Ether has surged more than 50% over the past month, boosted by the passage of the Genius Act, which establishes a regulatory framework for dollar-pegged stablecoins.

Geoff Kendrick, Standard Chartered’s head of digital assets research, highlighted that growth in the stablecoin sector—projected to expand eightfold by 2028—would drive increased transaction fees on Ethereum, boosting demand for ether. The brokerage also raised its 2028 forecast for ether to $25,000 and noted that Ethereum treasury companies could hold up to 10% of circulating ether, supporting long-term growth.

Bitcoin Hits Record High Fueled by Institutional Demand and Crypto-Friendly U.S. Policies

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Bitcoin surged to an all-time high on Friday, driven by strong demand from institutional investors and supportive policies from the administration of U.S. President Donald Trump. The leading cryptocurrency reached a peak of $116,781.10 during the Asian trading session, marking a gain of over 24% for the year. It was last traded around $116,563.11.

Joshua Chu, co-chair of the Hong Kong Web3 Association, attributed the record rally to “relentless institutional accumulation,” noting that major investors are buying large amounts of Bitcoin, reducing available supply on exchanges.

In March, President Trump signed an executive order to create a strategic reserve of cryptocurrencies and has appointed crypto-friendly officials, including SEC Chair Paul Atkins and White House AI czar David Sacks. Trump’s family businesses have also entered the crypto space, with the Trump Media & Technology Group planning to launch an exchange-traded fund investing in various crypto tokens, including Bitcoin, according to a recent SEC filing.

Ethereum, the second-largest cryptocurrency, also experienced a strong rise, climbing nearly 5% to $2,956.82 and earlier reaching a five-month peak of $2,998.41.

BBVA Advises Wealthy Clients to Allocate Up to 7% in Bitcoin, Signaling Growing Institutional Embrace of Crypto

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BBVA, one of Spain’s largest banks, is advising its private banking clients to allocate between 3% and 7% of their portfolios to cryptocurrencies, primarily bitcoin and ether, according to Philippe Meyer, head of digital & blockchain solutions at BBVA Switzerland.

Speaking at the DigiAssets conference in London, Meyer stated the advisory began in September 2023, reflecting a growing confidence in the sector. While many banks passively allow crypto investments, BBVA stands out by actively recommending such allocations — a rare move among mainstream European financial institutions.

“With private customers, since September last year, we started advising on bitcoin,” Meyer said. “The riskier profile, we allow up to 7% of portfolios in crypto.”

Context and Strategy:

  • BBVA started executing crypto trades for private clients in 2021, but this is the first time it has formally advised allocations.

  • The recommendation currently includes bitcoin and ether, with plans to extend coverage to other digital assets later in 2025.

  • Meyer emphasized that even a 3% allocation can boost portfolio performance without exposing clients to excessive risk.

Market Momentum:

Bitcoin hit record highs in May, continuing its recovery from the crypto market collapse in 2022, which saw major platforms like FTX implode. The rebound has been aided by increased institutional interest and a pro-crypto stance from U.S. political figures, including Donald Trump.

Despite these advances, regulatory bodies remain cautious:

  • The European Securities and Markets Authority (ESMA) noted earlier this year that 95% of EU banks still do not engage in crypto activities.

  • Regulators consistently warn investors of crypto’s volatility, reiterating that one should be prepared to lose their entire investment.

BBVA’s approach reflects a nuanced shift in institutional sentiment, especially for wealthy clients seeking diversification amid evolving digital asset landscapes.