Standard Chartered Bank is optimistic about the future of the flagship crypto. According to her, the Bitcoin ETF could see a colossal inflow of $50 billion to $100 billion in 2024, provided that the SEC gives the green light to the Spot Bitcoin ETF. This promising dynamic would certainly boost the price of BTC, propelling it to dizzying heights by the end of 2025.
An influx of 100 billion dollars at stake
As crypto investors eagerly await the SEC’s approval of Bitcoin ETFs, a recent analysis from Standard Chartered Bank injects an extra dose of optimism into the market.
Bank Says Bitcoin ETF Exchange Could Experience a significant increase if approved by the SEC. In fact, it provides an influx of $50 billion to $100 billion into Bitcoin ETFs in 2024. This potential influx will likely cause the price of the crypto to rise.
In his analysisStandard Chartered estimates that the Bitcoin ETF market is moving faster. This market is maturing more quickly than that of gold, she explains. She used the introduction of the first US-based gold ETP in November 2004 as a point of comparison.
The price of gold increased 4.3 times in the seven to eight years after the introduction of the first ETP. This period is necessary for gold assets to mature. If the flagship crypto follows the same scenario, but reaches market maturity more quickly, BTC price could rise to $200,000 by the end of 2025.
SEC May Approve Bitcoin ETFs Soon
Standard Chartered has said that approval of Bitcoin ETFs by the Securities Exchange Commission (SEC) is imminent. This should indeed happen this week. Obviously, this approval of spot ETFs will have a significant impact on the price of Bitcoin (BTC) which reached $47,000 today.
Standard Chartered expects Bitcoin to see price gains of a similar magnitude following the introduction of the ETP. But she expects these gains to materialize over a shorter period, between one and two years. This assumes that between 437,000 to 1.32 million new Bitcoins will be held in US ETFs by the end of 2024.
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