Standard Chartered forecasts Ethereum price $40,000 by 2030, beating Bitcoin
Standard Chartered’s Geoffrey Kendrick says Ethereum could reach $40,000 by 2030 and outperform Bitcoin. He expects tokenization and stablecoins to land on Ethereum first as banks build on-chain.
He outlined the case in a Milk Road interview with John Gillen. His January report also flagged “Ethereum outperformance expected.”
“TradFi is okay to build stuff on Ethereum,” Kendrick said. “It’ll be very safe to say I’m going to build on Ethereum layer 1… because it’s never gone down.” Interview.
He pointed to BlackRock’s path as the template. Launch first on Ethereum mainnet, then expand to other chains and L2s. BlackRock’s rollout.
He focuses on fees versus market cap for valuation. More activity on Ethereum, higher token price, in his view. He sees the ETH/BTC ratio lifting from ~0.03 to 0.04 this year. Interview.
Long term, he keeps $500,000 for Bitcoin and $40,000 for Ethereum by 2030. $500,000 Bitcoin by 2030. $40,000 Ethereum by 2030.
Key drivers he cites:
- Stablecoins rising from ~$300B to ~$2T in a few years interview
- Tokenized money market funds from ~$10B today to ~$750B by end‑2028 interview
- Other tokenized assets from ~$40B to ~$2T by end‑2028 interview
He sees TradFi and DeFi meeting in the middle if rules clear. Consumer apps could route cash in the background into protocols like Aave and Compound. Interview.
His core trade: tokenized dollars and funds pull institutional liquidity on-chain, and the first phase lands where compliance is most comfortable. That still points to Ethereum. Interview.
