Standard Chartered says Strategy's reduction of its Bitcoin holdings may signal that ETH is starting to outperform BTC.

On June 2nd, The Block reported that Geoffrey Kendrick, Head of Digital Asset Research at Standard Chartered Bank, believes that Strategy's sale of 32 bitcoins last week could signal the beginning of a new period of outperformance for Ethereum relative to Bitcoin. Kendrick noted that despite the sale being "minimal," ETH/BTC experienced a notable upward trend, which is unusual in recent years, even as BTC declined on the same day. He forecasts that ETH/BTC will increase to around 0.040 by the end of this year, up from its current level of approximately 0.028. Kendrick reiterates his price targets for ETH at $4,000 by year-end and $40,000 by 2030. He also highlighted that the Ethereum Treasury can generate funds with "zero necessity" for selling assets, thanks to an approximate 3% staking yield. This allows the Ethereum Treasury to achieve a higher net asset value (mNAV) and enhanced financing capabilities compared to the Bitcoin Treasury.