After Bitcoin ETF approval, Standard Chartered made bold predictions about the market
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Standard Chartered expects $50 to $100 billion to flood into Bitcoin after approving a spot ETF, with industry experts speculating a decision will be made this week.
Standard Chartered Bank recently made a noteworthy prediction for Bitcoin, predicting that spot ETF funds will influx in the amount of $50 to $100 billion after the investment product is expected to be approved in 2024.
The international banking giant’s predictions are based on expectations of more than a dozen spot Bitcoin ETF applications currently being considered by the U.S. Securities and Exchange Commission (SEC).
Industry experts have raised expectations for the imminent approval, with many speculating a decision will be made on Wednesday. Standard Chartered’s predictions go beyond the immediate financial impact, suggesting that the ETF’s approval will have a significant positive impact on the market value of Bitcoin (BTC).
The bank is not the only one considering the potential impact of a spot Bitcoin ETF approval. The wider digital asset industry is enthusiastic and stakeholders are watching developments closely.
According to Standard Chartered, Bitcoin will not only see massive inflows, but it will also reach a staggering price milestone of $200,000 by the end of 2025, surpassing its previous all-time high.
