Standard Chartered Says Ethereum Could More Than Double in 2026 as Crypto Tailwinds Build

Standard Chartered is leaning bullish on ethereum $ETH ( ▲ 1.07% ) and thinks it could outperform bitcoin this year, even after cutting its year-end price target.

In a Monday research note, Geoff Kendrick, the bank’s global head of digital assets research, said ethereum’s prospects have improved thanks to stronger institutional flows, expanding stablecoin adoption, and a growing belief that crypto regulation is finally moving from theory to reality.

Standard Chartered lowered its end-of-year ethereum forecast from $12,000 to $7,500, but still expects ethereum to more than double from current levels.

Kendrick also said the ETH-BTC ratio could return to 2021 highs, signaling the bank expects ETH to regain relative strength after a long stretch of underperformance.

The bank’s thesis centers on ethereum’s structural position in the crypto ecosystem, plus several catalysts building at the same time.

Key drivers Standard Chartered highlighted include:

The bank argues that as traditional finance moves into crypto infrastructure, ethereum’s market share should rise because it remains the most trusted network in institutional circles.

Standard Chartered also cited optimism around major technical upgrades.

It expects ethereum to increase its throughput by 10x over the next two to three years, referencing Vitalik Buterin’s 2025 plans to scale the network.

That matters because one of ethereum’s biggest criticisms has been performance compared to newer chains. If ETH can materially improve throughput while maintaining reliability, it strengthens the bull case for long-term dominance.

Another key pillar is policy.

Standard Chartered expects the CLARITY Act, which aims to create a regulatory framework for digital asset markets, to pass the Senate. If that happens, it could reduce uncertainty and make it easier for institutions to commit capital.

Kendrick also made a point that ethereum’s advantage is not being the cheapest or fastest. It’s being the most battle-tested.

Ethereum has been operating for over 10 years and its network has never gone down.

In the bank’s view, reliability beats marginal cost savings for institutional adoption. TradFi does not want the “fastest chain.” It wants the chain least likely to break.

On Monday, Buterin introduced the “walkway test,” framing ethereum’s long-term roadmap as needing to prove it can deliver core upgrades without relying on features outside the protocol.

Passing the test includes:

Bottom line: Standard Chartered thinks ethereum’s narrative is improving across four fronts at once, regulation, scaling, institutional flows, and stablecoin growth. If those line up, the bank believes $ETH ( ▲ 1.07% ) has a real shot to more than double this year.