With the potential approval of a Bitcoin ETF in the US, Standard Chartered analysts expect the first cryptocurrency to show unprecedented growth and reach $200,000 in 2025.
Standard Chartered experts compared the expected launch of Bitcoin ETFs with gold ETFs, which once revolutionized the market. Analysts recalled that the first gold ETF in the US – SPDR Gold Shares (GLD) – was introduced in 2004 and is now the world’s largest ETF.
“We expect Bitcoin to see similar gains following the approval of the US spot ETF. This growth will occur over an even shorter period (one to two years),” the bank believes.
Analysts expect Bitcoin spot ETFs to attract $50-$100 billion in capital in 2024. At the end of this year, Bitcoin will trade at $100,000, the bank believes.
“We also expect that the value of Bitcoin may be close to $200,000 by the end of 2025,” the company said. Standard Chartered sees the potential approval of spot Bitcoin ETFs as a “game changer” for the normalization of institutional investor participation in BTC trading.
Analysts are now making numerous forecasts, expecting that the US Securities and Exchange Commission (SEC) will approve a Bitcoin ETF. Bloomberg writes that the market is ready to begin trading Bitcoin ETFs immediately after SEC approval.
As Fox Business reports, citing its own sources, BlackRock, the favorite in the race, expects SEC approval to launch a spot Bitcoin exchange-traded fund (ETF) this Wednesday.
