Standard Chartered said in a new report that 2026 could become a turning point for Ethereum, with ETH projected to reach about $7,500 by the end of 2026 and as high as $40,000 by the end of 2030. The bank said short-term volatility remains, but argued that Ethereum is gaining long-range momentum through structural advantages tied to stablecoins, tokenized real-world assets, and ongoing network upgrades.
Geoffrey Kendrick, Standard Chartered’s global head of digital assets research, said 2026 could matter for Ethereum in a way similar to what 2021 represented for the broader crypto market. His view is that as on-chain products become more integrated into the financial system, Ethereum retains a strong position as core infrastructure.
Near-term targets cut, long-term upside raised
The bank lowered its shorter-dated price targets while keeping a constructive long-term stance. Standard Chartered now expects ETH to reach $7,500 by the end of 2026, followed by $15,000 in 2027 and $22,000 in 2028.
At the same time, it lifted its longer-term outlook. The bank raised its end-2029 target to $30,000 and introduced a new forecast of $40,000 by the end of 2030. That shift suggests Standard Chartered expects Ethereum’s value realization to play out over a longer cycle rather than in a short burst.
ETH/BTC ratio seen recovering toward 2021 levels
Standard Chartered said Bitcoin remains the dominant crypto asset, but its recent performance has fallen short of expectations and has weighed on the broader market. Ethereum, by contrast, is seeing stronger fundamental support. The bank expects the ETH/BTC ratio to recover over time and move closer to the 0.08 level seen in 2021.
Its reasoning centers on Ethereum’s leading position in stablecoins, DeFi, and RWA tokenization. According to the report, these segments still lack a near-term competitor capable of displacing Ethereum at scale.
Stablecoins and RWA growth seen as the main on-chain driver
The report said stablecoins and tokenized real-world assets are likely to be the main engines of on-chain economic growth in the next few years. Standard Chartered estimates that the combined market size of those two sectors could reach $2 trillion by 2028, with most related trading and settlement activity expected to take place on Ethereum.
It also noted that more than half of existing stablecoins and RWA deployments are already on Ethereum. If traditional financial institutions continue moving parts of their business on-chain, the bank believes Ethereum’s share could rise from current levels.
Network activity, upgrades, and regulation cited as support
On the technical side, Standard Chartered said Ethereum has recently posted record transaction counts, driven largely by stablecoin activity, which accounts for about 35% to 40% of total network transactions. The report said Layer 1 throughput upgrades are important for supporting continued growth and market cap expansion, and pointed to the recently completed Fusaka upgrade as one of those supports.
The bank also mentioned regulation. It said the proposed U.S. Clarity Act, if passed, could reduce policy uncertainty and potentially help Bitcoin reach new highs, which in turn could support Ethereum over the medium to long term.