Standard Chartered is said to be looking into starting a crypto trading and prime brokerage business under its in-house innovation team, SC Ventures.
This would be a notable step for the bank in expanding its services for large crypto investors, showing that traditional banks are continuing to prepare for more crypto involvement. However, a launch date has not been set, and the bank has neither confirmed nor denied the news.
This development is similar to steps taken by other major banks. For instance, Morgan Stanley recently applied to launch crypto ETFs, and Bank of America allowed its advisors to use spot Bitcoin ETFs, which shows that traditional finance is increasingly embracing regulated crypto options.
In other news, Standard Chartered lowered its future price predictions for Ethereum. The bank now expects ETH to reach about $7,500 by the end of 2026 (down from $12,000) and around $22,000 by the end of 2028 (down from $25,000).
The change in the forecast is likely due to a general downturn in crypto markets, where Bitcoin’s struggles have dampened sentiment across all cryptocurrencies. It also factors in slower-than-hoped progress in key areas of blockchain network activity.
Even with the lowered near-term forecast, Standard Chartered’s analysts are still positive on Ethereum’s future, raising their 2030 price prediction to approximately $40,000. They believe growth in the Ethereum network, the DeFi sector, and real-world use will drive this increase.
(adsbygoogle = window.adsbygoogle || []).push({});Large banks are moving beyond testing crypto to building full-scale services for major clients. If Standard Chartered launches its own crypto brokerage, it could provide a regulated platform for large investors, companies, and wealth managers to trade, store, and manage digital assets.
Additionally, Standard Chartered’s new Ether forecast showcases how Bitcoin’s performance is still the main driver of overall crypto market sentiment. Bitcoin’s market share and price direction often determine whether investors are willing to take risks across the entire space.
On that note, Geoff Kendrick, global head of digital assets research at Standard Chartered, said that weaker-than-expected Bitcoin performance has weighed on the outlook for the broader digital asset market against the U.S. dollar, given Bitcoin’s continued dominance of the sector.
