Bernstein: Ethereum treasury targets yield, but risks loom.

PANews reported on July 28 that according to CoinDesk, Wall Street brokerage Bernstein stated on Monday that multiple companies are building treasury systems around Ethereum, earning operational revenue by staking assets and supporting the financial infrastructure of the network. Unlike Bitcoin treasuries (such as Strategy), which tend to focus on liquidity and passive holding, Ethereum treasuries emphasize staking yields, with current yields slightly below 3% and a historical fluctuation range of 3%-5%. Bernstein estimates that a $1 billion Ethereum treasury could yield between $30 million to $50 million annually. However, yields come with complexity. The Ethereum staking model requires holders to actively deploy capital and enhance risk supervision, and unstaking can take several days, posing liquidity constraints and risks of market volatility mismatch. Advanced strategies like re-staking or DeFi yield farming further amplify smart contract and security risks, requiring treasury managers to balance yield and risk. Given that nearly 30% of Ethereum is already staked, with another 10% locked in DeFi, along with continuous inflows of ETF funds, strong demand is expected in the near to mid-term, while supply remains relatively stable. Analysts are optimistic about Ethereum and its ability to support treasury-scale capital strategies, provided that liquidity and risk are managed properly.