In its current report, the UK-based giant banking group Standard Chartered touched upon the impact that the spot Bitcoin ETF approval will have on the cryptocurrency market.
In its current report, Standard Chartered focused on the spot Bitcoin ETF. The institution is certain that the SEC will approve the ETFs in question, and if this happens, it will only 2024 Released in Liquidity inflow of 50-100 billion dollars He predicted it would happen.
However, the liquidity flow and institutional interest that will occur after approval will increase the Bitcoin price. 2025 until the end of the year for 200 thousand dollars It was stated that he could carry it. The banking group also provides spot services to giant institutions. Ethereum ETF applications due in the second quarter of 2024 He highlighted that it could be approved and that this approval could add a new upward wind to the cryptocurrency market.
ETF Approval Will Be a Milestone for Bitcoin!
Financial research manager of Standard Chartered Bank, who shared a post for investors on the subject Geoffrey KendricHe emphasized that ETF approval would be a turning point for Bitcoin:
ETF approval will be an important factor in the upward trend of Bitcoin price. We see this as a turning point to normalize institutional money’s participation in Bitcoin and expect the approval to drive significant inflows and price appreciation for BTC. If ETF-related inflows occur as we expect, we think a price near the $200,000 level is possible by the end of 2025.
Chartered is the first gold ETF specifically based in the US. SPDR Gold Shares (GLD) While using it as a reference point, he argued that a similar effect could be seen in Bitcoin. Commenting on the proportional cash withdrawal of the first gold ETF, Standard Chartered said, in this case, Bitcoin $34 billion entry While stating that it could bethe calmest scenarioIt was stated that it could happen.
On the other hand, in the good scenario of the banking group, it will be injected into the market with the approval of the ETF. 130 billion dollars A cash possibility of value was included. Bitcoin compared to gold to a more dynamic structure has and accordingly both price movement and cash flow can occur much faster emphasized.