$ETH What you mentioned is Wall Street analyst Tom Lee (Tom Lee)’s core bullish view on Ethereum (ETH), which combines institutional data and predictions from multiple investment banks. The key points are as follows:

1. Core thesis: ETH at $2,300 is an “obvious mispricing”

- View: Tom Lee believes that the ETH price around $2,300 is severely undervalued compared with its true value, representing the clearest value mismatch in financial history.
- Logic: ETH is not just a cryptocurrency; it is the underlying infrastructure of global finance, carrying the tokenized future worth trillions of dollars. The current price is like selling “the New York Stock Exchange” or the “SWIFT” system at a discount as if they were casino chips.

2. Collective endorsement by Wall Street bigwigs (arguments)

- JPMorgan (JPMorgan): has launched the first tokenized money market fund MONY on Ethereum, positioning it as the foundation for institutional on-chain finance.
- BlackRock (BlackRock): calls Ethereum a tokenized “toll road,” and its flagship tokenized fund BUIDL was also initially based on Ethereum issuance.
- Data support: On-chain data shows that roughly 61% of the world’s tokenized assets (RWA) are running on Ethereum, with a total value of over $20 billion, indicating a clear dominant position.

3. Standard Chartered’s long-term target price: $40,000

- Institution: Standard Chartered
- Target: ETH target price of $40,000 in 2030
- Path: $7,500 by end-2026 → $15,000 in 2027 → $22,000 in 2028 → $30,000 in 2029 → $40,000 in 2030
- Reason: Ethereum is the preferred platform for traditional finance going on-chain (tokenization, stablecoins), and its fundamentals continue to outperform Bitcoin.

4. Tom Lee’s own ultra-high expectations

- As chairman of the Ethereum treasury company BitMine, he has long been publicly bullish.
- Latest target: a long-term goal of $60,000 from 2026 to 2030
- Core logic (three-body superposition): 1. (RWA) real-asset tokenization explodes
2. Stablecoin scale expands
3. Fusion of AI and blockchain
The three trends converge on Ethereum, driving a reassessment of its value.

⚠️ Risk warning

- Viewpoint opposition: Some institutions (such as Mechanism Capital) criticize this logic, arguing that growth in on-chain activity has not translated into ETH revenue, and that value is seriously overestimated.
- Internal contradiction: An internal report from its Fundstrat arm once predicted that in the first half of 2026, ETH might retrace to $1,800-$2,000, which contrasts with his public bullish calls.
- Market volatility: Crypto risks are extremely high; institutional forecasts are for reference only and do not constitute investment advice.