Ether Treasury Companies Purchase 4.9% of Circulating ETH Since June

Standard Chartered's Geoff Kendrick stated that Ether (ETH) and ETH treasury companies are undervalued. Key points include:

ETH treasury companies have acquired 2.6% of circulating ETH since June.
Combined with ETF inflows, total purchases amount to 4.9% of all ETH in circulation.
ETH reached an all-time high of $4,955 on August 24.
Kendrick predicts treasury companies could own 10% of circulating ETH.
Despite a recent drop in price below $4,500, he maintains a year-end target of $7,500 for ETH.
Valuations of ETH treasury companies are normalizing; their mNAV multiples have declined.
Kendrick sees no reason for these multiples to be lower than those of companies without staking yield, like MSTR.
SBET announced a stock buyback if the NAV multiple falls below 1.0, establishing a support level for treasury multiples.

Despite an 8% decline in ETH on Monday, ETFs continued to see strong inflows, totaling $444 million, led by BlackRock’s iShares Ethereum Trust with $315 million. This follows $338 million in inflows on Friday.