Bitcoin Spot ETFs could attract millions of dollars in investments, according to Standard Chartered Bank.
Standard Chartered Bank, a British multinational bank with operations in consumer banking, corporate and institutional banking, and treasury services, anticipates a substantial inflow of between $50 billion and $100 billion into Bitcoin after approving Spot ETFs.
The international banking giant’s forecast is based on anticipation surrounding more than a dozen Bitcoin Spot ETF applications, currently under consideration by the US Securities and Exchange Commission (SEC).
Interestingly, industry experts are raising their expectations about the imminent approval, with many speculating about a decision before January 10.
Standard Chartered Bank Makes Market Predictions After Bitcoin ETF Approval
Imagine a world where the value of Bitcoin soars to unprecedented heights, thanks to a surge in investment from a newly approved financial product. Well yes, that is the future that Standard Chartered Bank imagines for the crypto market, especially if the SEC gives the green light to the long-awaited Bitcoin Spot ETFs.
If this were to happen, new opportunities would open up for investors, as they would be able to access the Bitcoin market in a simpler and more regulated way. This type of financial product would allow traditional investors and financial institutions to enter the crypto market without the obstacles and risks associated with the custody and security of digital assets. This could lead to a massive increase in demand and, consequently, a significant increase in the value of Bitcoin.
Simply put, Standard Chartered Bank’s projections extend beyond the immediate financial implications, suggesting a significant positive impact on Bitcoin’s market value following the approval of the ETF.
Standard Chartered Bank Predicts $200,000 Price Milestone for Bitcoin in 2025 with Spot ETF Approval
According to Standard Chartered Bank, Bitcoin could not only witness significant capital inflows but also reach a notable price milestone of $200,000 by the end of 2025, surpassing its previous all-time high.
Standard Chartered Bank’s head of foreign exchange research, Geoff Kendrick, has made a bold prediction about the future of Bitcoin. He anticipates that the approval of a Bitcoin spot exchange-traded fund (ETF) could propel the leading cryptocurrency to unprecedented heights, potentially reaching $200,000 by the end of 2025.
According to Geoff Kendrick’s analysis, the approval of these ETFs and subsequent inflows could increase the value of BTC by more than 300% from its current level of around $45,000.
In fact, he bases this prediction on the assumption that US spot ETFs will attract inflows of between $437,000 and $100,000 by the end of 2024.
Geoff Kendrick’s forecast also considers the impact of the upcoming halving and the tendency of miners to accumulate tokens, both of which could lead to a decrease in the available supply of BTC.
Standard Chartered Banks’s prediction is based on several factors. Firstly, the approval of a Bitcoin Spot ETF would provide institutional investors with a regulated and secure way to invest in Bitcoin. This would open the market to a new group of investors who may have previously been hesitant to invest due to regulatory or security concerns.
Secondly, approval would provide retail investors with an easier way to invest in Bitcoin as they would not have to go through the process of purchasing and storing the digital asset themselves. This would lead to greater demand for Bitcoin, which could drive up its price.
While some experts are optimistic about the future of Bitcoin, it is essential to approach predictions with caution. Cryptocurrency markets are notoriously volatile and past performance is not indicative of future results.
By Audy Castaneda
