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.

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.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: DALLE3

The post ETF Inflows Could Push Bitcoin to This Massive Price Target, According to Banking Giant Standard Chartered appeared first on The Daily Hodl.

Tags: , ,