Standard Chartered makes bold predictions for market after Bitcoin ETF approval

2024-01-08 12:25:47

Standard Chartered Bank anticipates a substantial influx of $50 to $100 billion into Bitcoin after approving spot ETFs, with industry experts speculating a decision by this week.

Standard Chartered Bank recently made a noteworthy prediction regarding Bitcoin, foreseeing a substantial influx of $50 to $100 billion in spot ETF inflows upon approval of the investment product, expected in 2024.

The international banking giant’s forecast is based on the anticipation surrounding more than a dozen spot Bitcoin ETF applications currently under consideration by the U.S. Securities and Exchange Commission (SEC).

Industry experts are heightening their expectations for the imminent approval, with many speculating a decision by Wednesday. Standard Chartered’s projections extend beyond the immediate financial implications, suggesting a significant positive impact on Bitcoin’s market value (BTC) following ETF approval.

The bank is not alone in contemplating the potential ramifications of a spot Bitcoin ETF approval. The broader digital asset industry is enthusiastic, and stakeholders are closely watching developments unfold.

According to Standard Chartered, Bitcoin could not only witness substantial inflows but also achieve a remarkable price milestone of $200,000 by the end of 2025, surpassing its previous all-time high.

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