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Standard Chartered Predicts $100B Inflows in Bitcoin ETF This Year, $200K Price Target
Market analysts predict that the Securities and Exchange Commission (SEC) is on the verge of approving spot bitcoin exchange-traded funds (ETFs) this week, potentially opening the floodgates for substantial inflows ranging between $50 to $100 billion throughout the year. This anticipation comes from insights provided by Standard Chartered Bank.
Drawing parallels with the transformative impact of gold ETFs, the bank envisions a similar revolution in investor access to the bitcoin market through the introduction of spot bitcoin ETFs. The comparison is with the launch of the first US-based gold ETF, SPDR Gold Shares (GLD), in 2004, which has since become the largest physically backed gold ETF globally. In a note on Monday, January 8, Standard Chartered Bank analysts led by Geoffrey Kendrick wrote:
“When GLD was introduced in November 2004, the total stock of above-ground gold was worth aro
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