ETF Inflows Could Push Bitcoin to This Massive Price Target, According to Banking Giant Standard Chartered
Banking giant Standard Chartered thinks Bitcoin (BTC) could potentially soar to $200,000 by the end of 2025.
In a new research note, Standard Chartered analysts predict $50-100 billion worth of cash will flow into spot Bitcoin exchange-traded funds (ETFs) in the US this year, unlocking massive potential gains for the top crypto asset by market cap.
The bank’s research was shared by the investor Mike Alfred.
SOURCE pic.twitter.com/Uzm4zJtXLy
— Mike Alfred (@mikealfred) January 8, 2024
The Standard Chartered analysts predict Bitcoin’s gains will materialize faster than gold witnessed after the approval of the first gold ETF because they think the BTC ETF market will mature quicker than that of gold.
They also think Bitcoin is likely to reach $100,000 by the end of 2024. BTC is trading at $46,056 at time of writing.
The U.S. Securities and Exchange Commission (SEC) approved the launch of the first Bitcoin futures ETFs in the United States in October 2021. The regulator has so far denied all spot BTC ETF applications, though that appears primed to change at any moment.
A slew of financial giants have submitted active spot BTC ETF applications, and numerous industry analysts anticipate some or all of them could be approved this week.
Fox Business reported over the weekend that BlackRock, the world’s largest asset manager, expects the SEC to greenlight its BTC ETF application today.
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