By BlockAI
Who and what
Standard Chartered strategist Geoff Kendrick and major funds such as BitMine and SharpLink are at the center of a fresh look at Ethereum-based digital asset treasuries sustainability. The bank’s analysis argues these treasuries can sustain operations longer because staking yields underpin valuations. The report, current as of September 2025, notes ETH trading near $4,491 and ongoing ETH accumulation by treasury teams.
Why it matters
Ethereum-based digital asset treasuries sustainability matters because it changes how treasuries influence markets. Unlike Bitcoin treasuries, Ethereum treasuries earn staking yields that support a market-to-net asset value (mNAV) above 1. That yield, plus the ability for capital raising and reinvestment, helps treasuries weather price swings and continue ETH accumulation.
How it works
Staking yields create recurring income for funds, improving liquidity and valuation. With a stronger mNAV, treasuries can access capital markets, reinvest proceeds, and buy more ETH. BitMine’s large ETH holdings and other players’ strategies are a case in point — read more on BitMine’s position BitMine Ethereum treasury makes Nasdaq-listed firm largest corporate ETH holder. Solana-focused treasury activity offers a contrast in token strategy and scale Solana treasury acquisition: Forward Industries buys 6.822 million SOL.
Market impact
Ethereum-based digital asset treasuries sustainability can lift ETH price by reducing net sell pressure and increasing institutional confidence. A parallel look at Bitcoin treasuries shows different dynamics; Bitcoin treasuries lack staking yields and must rely more on market timing and capital raising, as seen in past corporate buys Strategy Bitcoin treasury buys 525 Bitcoin for $60 million, now at 639,000.
Bottom line
Standard Chartered and Geoff Kendrick conclude that Ethereum-based digital asset treasuries sustainability is the most likely path for long-lived crypto treasuries because staking yields, mNAV advantages, and capital-raising ability support growth. Expect continued ETH accumulation and strategic reinvestment from these treasuries.
Frequently asked questions about Ethereum-based digital asset treasuries sustainability (FAQ)
What gives Ethereum treasuries an edge?
Staking yields provide ongoing income, supporting mNAV and capital raising.
Do Bitcoin treasuries have the same advantage?
No — Bitcoin treasuries can’t stake, so they rely on market moves and fundraising.
Who highlighted this view?
Standard Chartered and strategist Geoff Kendrick in a September 2025 analysis.
Sources to this article
Standard Chartered (2025) ‘Ethereum Treasuries Have “Highest Probability of Being Sustainable”’.
