I recently came across a very interesting research report. Standard Chartered, a globally renowned bank, made a bold prediction in their latest analysis — Ethereum could reach $40,000 by 2030.

Their logic is as follows: if Bitcoin underperforms expectations, it could actually create opportunities for Ethereum. Geoffrey Kendrick, Head of Digital Asset Research at Standard Chartered, even straightforwardly stated that 2026 will be Ethereum’s year, just like 2021. The price ratio between the two might return to the historic high of 2021.

Why are they so optimistic about Ethereum? The report highlights several key factors. First, ETFs and digital asset vaults have a relatively weak impact on Ethereum’s price, meaning that when more institutional funds flow in, there’s greater room for growth. Although overall crypto ETF capital flows have slowed, the pull on Ethereum has exceeded that on Bitcoin.

From a technical perspective, the outlook is also positive. The Ethereum development team is pushing forward with an ambitious plan — to increase blockchain transaction throughput by 10 times within the next 2-3 years. If this becomes a reality, it would be a major breakthrough.

Policy-wise, the advancement of the U.S. “Clarity Act” is also seen as a positive factor. Standard Chartered expects the bill to pass in the first quarter of 2026, which would benefit Ethereum and its large on-chain ecosystem.

However, it’s worth noting that Standard Chartered has also adjusted their recent forecasts. They lowered their 2026 target price for Ethereum from $12,000 to $7,500, and their 2027 target from $18,000 to $15,000. At the same time, they reaffirmed their Bitcoin target of $500,000 by 2030.

This report actually reflects a new understanding of the market’s view of Ethereum’s fundamentals — it’s not a matter of either/or, but an evolution in the ecosystem competition landscape.