Ethereum Price Could Hit $25,000 by 2028: Why Standard Chartered Is So Bullish on ETH's Future

Ethereum Price Forecast: Standard Chartered Lifts Year-End Target to $7,500 on Institutional Demand and Network Growth

Ethereum (ETH), the world’s second-largest cryptocurrency by market capitalization, has been on a remarkable upward trajectory in recent weeks — and according to Standard Chartered’s head of FX and Digital Assets Research, Geoff Kendrick, the rally is far from over.

Citing surging institutional demand, favorable regulatory developments, and major network upgrades, Kendrick has sharply revised his year-end 2025 price forecast for ETH to $7,500, up from his previous projection of $4,000. His long-term outlook is even more bullish, with an end-2028 target of $25,000, more than triple his prior $7,500 estimate.

ETH is currently trading just under its all-time high of $4,700, having surged over 50% in the past month.

Institutional Buying Accelerates at Record Pace

Kendrick’s bullish revision is driven in large part by the unprecedented pace of institutional accumulation. According to Standard Chartered’s latest research, treasury-holding companies and spot Ethereum exchange-traded funds (ETFs) have collectively purchased 3.8% of all ETH in circulation since early June.

This is double the fastest rate ever recorded for comparable Bitcoin purchases, underscoring the magnitude of the current institutional push into Ethereum.

Ethereum to Outperform Bitcoin

In addition to his bullish ETH price target, Kendrick also expects Ethereum to outperform Bitcoin in the coming years.

The ETH/BTC ratio currently sits at 0.039, but Kendrick forecasts it will climb to 0.05, signaling a shift in market dominance towards Ethereum.

This outperformance, he says, will be driven by Ethereum’s unique position as the primary platform for stablecoins, decentralized finance (DeFi), and Layer 2 scaling solutions.

Regulatory Tailwinds: The GENIUS Act Boost

A significant catalyst for Ethereum’s rally has been the passage of the U.S. GENIUS Act in July 2025. This legislation paves the way for mainstream stablecoin adoption, providing regulatory clarity that has long been sought by the digital asset industry.

Ethereum is particularly well-positioned to benefit from this development because:

• Over 50% of all stablecoins are issued on the Ethereum blockchain.

• Stablecoins already account for 40% of total blockchain fees on the network.

Kendrick noted that the GENIUS Act effectively cements Ethereum’s role as the backbone of the stablecoin economy, further strengthening its value proposition for institutional investors.

Network Upgrades to Multiply Throughput by 10x

Beyond regulation and institutional adoption, Ethereum’s technical roadmap is another major bullish factor.

Ethereum developers are working on upgrades aimed at increasing Layer 1 transaction throughput by 10x. This improvement will:

• Enable higher-value transactions directly on the base layer.

• Expand the potential for Layer 2 ecosystems like Optimism, Arbitrum, and zkSync to thrive.

• Reduce network congestion and gas fees, making Ethereum more competitive for enterprise adoption.

Kendrick emphasized that this scaling push aligns perfectly with the growing demand from DeFi protocols, NFT marketplaces, and enterprise-grade blockchain solutions.

Treasury-Backed Companies vs. ETH ETFs: Which Is the Better Play?

While spot Ethereum ETFs have captured headlines since their approval, Standard Chartered’s latest report suggests that companies purchasing ETH as part of their treasury strategy could represent an even better opportunity for investors.

According to the bank’s analysis, these companies provide exposure not only to Ethereum’s price growth but also to broader business synergies within the Web3 ecosystem.

Such companies may be better positioned to weather market volatility compared to ETFs, which simply track the underlying asset without additional growth drivers.

Ethereum’s Path to $7,500 in 2025

Kendrick’s $7,500 year-end forecast rests on several converging factors:

1. Sustained Institutional Demand

   • Corporate treasuries and ETFs have already locked up nearly 4% of circulating ETH in just two months.

   • This accumulation trend shows no signs of slowing as more institutions enter the space.

2. Regulatory Clarity and Adoption

   • The GENIUS Act is expected to accelerate the integration of stablecoins into mainstream payment systems.

   • Ethereum’s dominance in stablecoin issuance positions it as the primary beneficiary.

3. Technological Advancements

   • Upcoming throughput upgrades will enhance scalability and reduce fees.

   • Layer 2 expansion will further cement Ethereum’s position as the leading smart contract platform.

4. Market Dynamics

   • Rising ETH/BTC ratio signals growing market preference for Ethereum over Bitcoin.

   • Increased on-chain activity from DeFi, NFTs, and real-world asset tokenization adds to network value.

Looking Ahead to 2028: The $25,000 Vision

Kendrick’s $25,000 end-2028 target may seem ambitious, but he argues it is achievable if the current trajectory holds. His long-term thesis includes:

• Ethereum as the global settlement layer for digital finance.

• Massive adoption of real-world asset tokenization, such as bonds, equities, and commodities.

• Continued dominance in DeFi market share, with Ethereum maintaining its position as the go-to platform for decentralized applications.

Should these developments materialize, Kendrick believes Ethereum could capture a significantly larger share of global financial flows, justifying a multi-trillion-dollar valuation.

Risks to the Bullish Outlook

While the outlook is overwhelmingly positive, Kendrick acknowledges several risks that could hinder Ethereum’s growth:

• Regulatory Backlash: While the GENIUS Act is a step forward, other jurisdictions could impose stricter regulations.

• Technological Competition: Rival Layer 1 blockchains like Solana, Avalanche, and Aptos are competing for market share.

• Execution Delays: If Ethereum developers face setbacks in scaling upgrades, adoption momentum could slow.

• Macroeconomic Factors: Global recession risks or liquidity crunches could impact institutional buying.

Conclusion: Ethereum’s Institutional Era Has Arrived

Standard Chartered’s updated forecast is a clear signal that Ethereum is entering a new phase of institutional adoption. With regulatory clarity, technological innovation, and unprecedented accumulation by large entities, ETH is positioned for potentially historic gains over the next few years.

If Kendrick’s projections hold true, 2025 could mark the beginning of Ethereum’s dominance cycle, where it challenges Bitcoin not only in market performance but also in its role as the foundational layer of the blockchain economy.

Robert Petrov publication: "Ethereum Price Could Hit $25,000 by 2028: Why Standard Chartered Is So Bullish on ETH's Future" was written for 24crypto.news

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