Global banking giant Standard Chartered has reportedly raised its year-end price target for Ethereum (ETH), the second-largest digital asset by market capitalization.

According to a new report from Reuters, the financial services giant has increased its year-end ETH price target from $4,000 to $7,500, an increase of nearly 88%, due to heightened industry participation and a surge in demand for the token in recent months.

Looking ahead, Standard Chartered has also raised its 2028 price forecast for the top altcoin from $7,500 to $25,000, citing the recently passed "Genius Act"—which creates a legal framework for stablecoins—as a significant driver for the growth of its ecosystem, which is highly correlated with dollar-pegged digital assets.

According to Reuters, Jeff Kendrick, head of digital asset research at Standard Chartered, stated:

"We expect the stablecoin industry to grow about 8 times by the end of 2028, which will have a significant direct impact on fees on the Ethereum network."

Kendrick further mentioned that he envisions Ethereum treasury companies holding 10% of all available Ether.

Ethereum, which has experienced significant growth in recent months, is currently trading at $4,687, nearly matching its all-time high of $4,878 set in November 2021. At the beginning of July, Ethereum was valued at $2,487.

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