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In a bold prediction, Standard Chartered Bank foresees a substantial surge in Bitcoin’s value, projecting that Bitcoin could hit $200K in 2025. This optimistic outlook is contingent upon the potential approval of spot Bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC).
Highlights:
- Standard Chartered’s Geoffrey Kendrick leads a report on the potential impact of Bitcoin ETF approvals.
- Drawing from history, the report highlights parallels with the influence of gold ETFs, emphasizing increased investor access and significant inflows.
- Bitcoin ETFs could see inflows ranging from $50 to $130 billion, as per Standard Chartered’s estimates.
- Standard Chartered anticipates Bitcoin could Hit $200K by end-2025 and potentially reaching $100K by end-2024 upon U.S. spot ETF approval.
- Foreseeing substantial inflows, the bank predicts Bitcoin’s price surge, mirroring historical trends observed in gold prices.
- Notable figures, including VanEck CEO Jan van Eck, align with predictions, foreseeing Bitcoin reaching all-time highs in 2024.
Bitcoin ETF Approval and Price Projections
Standard Chartered Bank‘s Head of Crypto Research, Geoffrey Kendrick, leads the latest report, outlining the bank’s analysis of the potential impact of Bitcoin ETF approvals on the cryptocurrency’s value. The report draws parallels with the historical influence of gold ETFs on the gold market.
Potential Inflows from Bitcoin ETFs
Drawing a comparison to the introduction of the SPDR Gold Shares (GLD) ETF in 2004, the report highlights how gold ETFs significantly increased investor access and led to substantial inflows. The bank estimates that Bitcoin ETFs could witness inflows ranging from $50 to $100 billion, with a higher speculation reaching $130 billion.
Bitcoin Could Hit $200K by 2025 and $100K in 2024
Anticipating massive inflows into Bitcoin, Standard Chartered Bank predicts a surge in its price, akin to the trajectory observed in gold prices when GLD started trading. The report cites a historical example, stating that the price of gold rose 4.3 times in the seven to eight years following the introduction of gold ETPs. The bank expects Bitcoin to experience similar price gains with the approval of U.S. spot ETFs, aligning with its end-2024 view of Bitcoin reaching $100,000 and the potential for a $200,000 level by the end of 2025.
Notable figures in the cryptocurrency space, including VanEck CEO Jan van Eck, have echoed similar sentiments, envisioning Bitcoin reaching all-time highs in 2024. Other major Bitcoin ETF issuers like Galaxy and Bitwise have also anticipated a significant price surge in the wake of pending ETF approvals.
Read more: Blackrock Bitcoin Etf Approval: A Milestone for Mainstream Crypto Investment
Conclusion
As the SEC’s decision on Bitcoin ETF applications looms, the cryptocurrency market awaits a potential milestone. Standard Chartered Bank’s optimistic projection of Bitcoin hitting $200K by 2025 hinges on the approval of spot Bitcoin ETFs, aligning with industry voices anticipating a transformative impact on the cryptocurrency landscape. If approved, the speculated surge in Bitcoin’s value could reshape the market dynamics, echoing the historical patterns observed with gold ETFs.
