One was idly flicking through the financial pages the other day-a perilous pastime, rather like juggling soapy billiard balls-when the spectacle of the crypto-market’s recent kerfuffle presented itself. It was the sort of rollicking downturn that makes a chap’s wallet feel as sturdy as a wet paper bag.💼🤹♂️
A certain Geoff Kendrick, a global head of something-or-other digital at the Standard Chartered emporium, has weighed in on the proceedings. To hear him tell it, the whole ether ecosystem has been given a sound thrashing and has emerged looking decidedly underpriced, like a slightly scuffed but perfectly serviceable umbrella at a church fete.
What to know, or, The Essential Intelligencer:
- It appears a gaggle of ‘ether treasury companies’ have been on a spree, snapping up the crypto-whotsit with the abandon of a puppy in a slipper shop. They’ve bagged 2.6% of the bally stuff since June!
- Mr. Kendrick, a man clearly blessed with the gift of prophecy, insists this is merely the overture. He foresees ether scaling the dizzy heights of $7,500 by year’s end, suggesting the recent unpleasantness is not a disaster but a jolly good shopping opportunity.💰📈
- In a development that baffles the rational mind, two firms dealing in the stuff-Sharplink Gaming and Bitmine Immersion-are valued less enthusiastically than their bitcoin-centric rival, a Strategy outfit run by a fellow named Saylor. This, despite their access to a perfectly good 3% staking yield! It’s like choosing a flat lemonade over a bubbling champagne cocktail.🥂
To put a finer point on it, the combined purchasing power of these corporate entities and the new-fangled ETF contraptions has hoovered up a staggering 4.9% of all the ether in circulation. A feat not unlike consuming 4.9% of all the crumpets in the greater London area-simply not done, but tremendously impressive nonetheless.
Though the market has taken a bit of a header recently, the indomitable Kendrick remains unmoved in his sunny forecast. He views the sell-off, which pitched the price below the $4,500 mark, as less of a tragedy and more of a welcome mat for discerning investors. A spiffing entry point, don’t you know?
And on the matter of valuation, he finds the current multiples for these ether-hoarding companies to be an absolute nonsense. Why should they trail behind this Saylor chap’s enterprise when they have the added lure of that 3% yield? It’s a mystery, a conundrum wrapped in an enigma, and served with a side of bemusement.🤨
ETF Funds Flow Forth, Despite the General Melancholy
In a stunning display of British stiff-upper-lip-ness, investors in these ETF devices kept calm and carried on buying during Monday’s market rout. While ether itself was performing an impression of a lead balloon-down a painful 8%-the funds saw a deluge of some $444 million in inflows.
The lion’s share was captured by BlackRock’s iShares Ethereum Trust, which bagged a cool $315 million. It would seem that even when the digital ship is listing heavily, there are those eager to clamber aboard, armed with buckets of cash and, one assumes, a powerful sense of optimism.🚢💸
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2025-08-26 17:11