According to the latest reports, it seems that Bitcoin could see $100 billion in spot ETF inflows. Check out the latest reports about this below.
Bitcoin could see huge explosion, Standard Chartered says
Standard Chartered, one of the largest international banks, has predicted that Bitcoin could potentially see as much as $100 billion in Spot ETF inflows.
The bank has stated that these funds could be seen in 2024, following the approval of the investment product.
Many industry experts have increased their expectations of the product’s approval in the coming days, with many expecting it to arrive by Wednesday of this week.
Additionally, Standard Chartered has forecasted a massive price increase for the digital asset following approval of the more than a dozen spot Bitcoin ETF applications that the US Securities and Exchange Commission (SEC) is currently contemplating.
There is a lot of buzz going on about the potential approval of a Spot Bitcoin ETF in the US. Many digital asset industry experts are eagerly waiting for a decision on the various applications.
If approved, it is predicted that the industry could experience significant changes.
Standard Chartered Bank has projected that if a Spot Bitcoin ETF is approved, it could lead to inflows of $50 to $100 billion into Bitcoin.
The bank expects that this will have a considerable impact on the price of Bitcoin over the next year.
According to recent reports, the bank has estimated that Bitcoin’s price may reach up to $200,000 by the end of 2025.
However, this would only be possible if the Spot Bitcoin ETF gets approved, which would be a significant increase from its previous all-time high of $68,789.
Industry experts believe that the approval for the ETF is expected to arrive this week, as Standard Chartered has predicted. However, the deadline for a decision has been set for January 10th.
