On July 29, Geoff Kendrick, head of digital asset research at Standard Chartered Bank, stated that as crypto treasury companies continue to buy Ether, Ethereum is expected to rise further. Crypto treasury companies, which are publicly listed companies that hold digital assets on their balance sheets, have started to include Ethereum in their asset allocation, and even the institutional buying power of Ethereum has surpassed that of Bitcoin. He noted that due to restrictions on crypto asset investments in many jurisdictions, investors are increasingly inclined to allocate through alternative channels such as listed companies. "If the inflow of funds can continue, Ethereum is likely to break through the key $4000 level (which is our current price forecast for the end of 2025)." ( Jin10 )