Standard Chartered expects Bitcoin to reach $200,000 by the end of 2025 and could bring inflows of $50 billion to $100 billion by 2024 if a spot bitcoin ETF is approved.
Standard Chartered, a giant British bank, expects the price of Bitcoin (BTC) to reach $200,000 by the end of 2025, representing an increase of more than 300% from the current trading price.
The bank says its anticipated Spot Bitcoin ETF is nearing approval and could attract as much as $50-100 billion to the market within one year. Based on SPDR Gold Shares (GLD) estimates, the first gold ETF launched in the US. In November 2004
After launching the gold exchange-traded fund for the first time. The price of gold has risen 4.3 times in 7-8 years for this reason. The bank's analysts expect that the launch of the Spot Bitcoin ETF will also stimulate a significant increase in Bitcoin prices. But it will take a shorter period of time of one to two years because the Bitcoin ETF market will develop faster.
In the financial circle, precious metals such as gold are often compared to Bitcoin as a rare form of money and a reliable store of value. Like gold ETFs, if Bitcoin ETFs are approved, it will make it easier for investors to access these assets without having to maintain them.
Last month, Standard Chartered Bank estimated that Bitcoin would reach $100,000 by 2024, driven by the approval of the Spot Bitcoin ETF and the Bitcoin Halving phenomenon, which will reduce trading returns.
Currently, asset managers are waiting for an answer from the SEC on whether or not they will approve the Ark Invest fund, as tomorrow (January 10) is the last day to submit an answer.
source: Bloc, CryptoPotato
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