A new report by Standard Chartered identifies publicly traded Ethereum (ETH) financing companies as clear and rapidly evolving asset classes separate from exchange trade financing (ETFs) and traditional crypto investment vehicles.
According to the report, these companies do not hold ETH for speculative purposes. Instead, they have placed a balance sheet around yield, definition consolidation, and staking stock market conditions that allow them to trade at a premium relative to their ETH holdings.
This will allow investors to regulate their exposure to Ethereum and provide yield and leverage strategies that are not available to find Ethereum ETFs.
Standard Chartered highlighted that these companies benefit from a more structural edge than US-regulated ETFs.
Many treasury companies have wagered most of their ETH, raising capital through privately owned or convertible obligations, and deploying assets into chain protocols to generate additional revenue.
The report says these companies are taking advantage of regulatory inefficiencies and retail restrictions. As a result, they often exchange beyond their net asset value and act as a de facto ETF incorporating yield, operational flexibility and balance sheet leverage.
Bitmine Immersion Technologies leads the cohort, retaining around 0.5% of Ethereum’s circulating supply, targeting a 10-fold increase in the future.
Other companies, including Sharplink Gaming, have raised funding rounds focused on hundreds of millions of ETH and have launched staking-driven financial strategies. ETH Holdings, a gaming-focused company, recently overtook the Ethereum Foundation.
Standard Chartered documented a wide range of industry changes, along with companies that biotech, energy and semiconductor companies reuse their operations to adopt the ETH Treasury strategy. Moss Genomics, Centaurus Energy, and the Intchains Group cited them as examples of trends that cross the field.
The report predicts that if the current trend continues, the finance company will ultimately be able to manage up to 10% of its ETH supply. This represents a 10-fold increase from current levels, solidifying Ethereum’s role in the company’s capital allocation strategy.
The standard chartered framed Ethereum Treasury Department as the new counterpart of the ETF has the distinct structural advantage of gambling revenue, complexity and strategic fairness options in the open market.
The report highlighted that this is not merely a revival of Bitcoin (BTC) corporate financial model, but a new class of digital asset strategy driven by Ethereum’s programmerity and yield mechanics.
If institutional demand continues with favorable regulatory conditions, ETH Treasury businesses could become a long-term fixture in the cryptocurrency ecosystem.