{"id":568715,"date":"2024-01-09T16:00:13","date_gmt":"2024-01-09T16:00:13","guid":{"rendered":"https:\/\/wncen.com\/?p=568715"},"modified":"2024-06-11T08:25:11","modified_gmt":"2024-06-11T08:25:11","slug":"standard-chartered-spot-bitcoin-etf","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/standard-chartered-spot-bitcoin-etf\/","title":{"rendered":"Global Mega Bank Standard Chartered Releases Bullish Forecast For Spot Bitcoin ETFs"},"content":{"rendered":"<p><a href=\"https:\/\/bitcoinist.com\/bitcoin-could-hit-100000\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Standard Chartered Bank<\/span><\/a><span style=\"font-weight: 400\"> is the latest to give its predictions on the impact <\/span><a href=\"https:\/\/bitcoinist.com\/blackrock-undercut-lower-spot-bitcoin-etf-fees\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Spot Bitcoin ETFs<\/span><\/a><span style=\"font-weight: 400\"> could have on Bitcoin\u2019s price in the long term. The bank took a bullish stance as they predicted that BTC could rise to unprecedented heights by the end of 2025.\u00a0<\/span><\/p>\n<h2>Bitcoin Could Hit $200,000 By End Of 2024<\/h2>\n<p><span style=\"font-weight: 400\">According to a report by Standard Chartered <\/span><a href=\"https:\/\/x.com\/BTC_Archive\/status\/27248300?s=20\" rel=\"nofollow\"><span style=\"font-weight: 400\">shared<\/span><\/a><span style=\"font-weight: 400\"> on the X (formerly Twitter) platform, BTC&#8217;s price could reach $200,000 by end-2025. There is the potential for Bitcoin to hit this price level with $50 to $100 billion flowing into the <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-spot-etf-applicants-submit-19b-4-amendment\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Spot Bitcoin ETFs<\/span><\/a><span style=\"font-weight: 400\">, says the bank\u2019s Head of Digital Assets Research Geoff Kendrick and Precious Metal Analyst Suki Cooper.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/shiba-inu\/shiba-inu-0-001-9-25-trillion-shib\/\">Shiba Inu Breakout To $0.001? Rumored 9.25 Trillion SHIB Token Burn Could Be The Catalyst<\/a><\/div>\n<p><span style=\"font-weight: 400\">Their projections stem from the fact that an approval of these Spot Bitcoin ETFs could happen as soon as this week. If that happens, Kendrick and Cooper state that will be a key driver of Bitcoin\u2019s price to the upside, something similar to what happened with Gold ETPs. Interestingly, Standard Chartered predicts that BTC could hit $100,000 before this year runs out.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Elaborating on BTC <\/span><a href=\"https:\/\/bitcoinist.com\/institutional-manipulation-bitcoin-etfs-like-gold\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">enjoying similar gains to Gold<\/span><\/a><span style=\"font-weight: 400\"> (when Gold ETPs were approved), the bank expects that such gains will materialize over a shorter period for the flagship crypto token. This is based on their view that the Spot BTC ETF market will develop quicker than the Gold ETPs did.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The amount of inflows that these Spot Bitcoin ETFs could witness has continued to be up for debate. Crypto research firm Galaxy Digital took a more conservative stance as <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-spot-etf-three-years\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">they project<\/span><\/a><span style=\"font-weight: 400\"> that only about $14 billion will flow into these funds in the first year. Meanwhile, <\/span><a href=\"https:\/\/bitcoinist.com\/experts-prediction-stablecoins-etfs-trillion-dollar\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">VanEck\u2019s advisor, Gabor Gurbacs<\/span><\/a><span style=\"font-weight: 400\">, is only choosing to look at the long term.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/qAdvbLUW\/\" alt=\"Bitcoin price chart from Tradingview.com\" width=\"3266\" height=\"1530\"><\/p>\n<pre style=\"text-align: center\">BTC reaches new 1-year high | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">BTCUSD on Tradingview.com<\/a><\/pre>\n<h2>\u201cTrillions, Not Billions\u201d In The Long Term<\/h2>\n<p><span style=\"font-weight: 400\">Commenting on Standard Chartered\u2019s report, Gurbacs <\/span><a href=\"https:\/\/x.com\/gaborgurbacs\/status\/93459696?s=20\" rel=\"nofollow\"><span style=\"font-weight: 400\">mentioned<\/span><\/a><span style=\"font-weight: 400\"> that he prefers to look at how much could flow into these funds in the longer term rather than now. With that in mind, he projects that trillions of dollars will <\/span><a href=\"http:\/\/v\" rel=\"nofollow\"><span style=\"font-weight: 400\">flow into Spot Bitcoin ETFs<\/span><\/a><span style=\"font-weight: 400\"> in the long term. Specifically, he makes a case for $2.5 trillion flowing into these BTC assets.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/dogecoin\/dogecoin-to-the-moon-doge-price\/\">Rocket Carrying Physical Dogecoin To The Moon Takes Off, But Why Is Price Struggling?<\/a><\/div>\n<p><span style=\"font-weight: 400\">He explained that this could easily happen, considering that there are roughly $500 trillion in assets globally. As such, $2.5 trillion, representing just 0.5% of the global allocation, flowing into the Bitcoin ecosystem shouldn\u2019t be a problem. He also bases his projection on the fact that Bitcoin won\u2019t stop rising in value as <\/span><a href=\"https:\/\/bitcoinist.com\/economist-us-dollar-bitcoin\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">fiat currencies continue to weaken<\/span><\/a><span style=\"font-weight: 400\">. BTC has no top because fiat has no bottom, he says.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Gurbacs also expects that Bitcoin will enjoy <\/span><a href=\"https:\/\/bitcoinist.com\/2024-bitcoin-apple-amazon-google-balance-sheet\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">more acceptance<\/span><\/a><span style=\"font-weight: 400\"> once these Spot Bitcoin ETFs are approved. He says that banks, financial service firms, and regulators will turn from \u201cenemies of Bitcoin to allies of Bitcoin.\u201d This is \u201cimmeasurably valuable\u201d as BTC adoption can level, he remarked.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Featured image from Premium Times, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Standard Chartered Bank is the latest to give its predictions on the impact Spot Bitcoin ETFs could have on Bitcoin\u2019s price in the long term. The bank took a bullish stance as they predicted that BTC could rise to unprecedented heights by the end of 2025.\u00a0 Bitcoin Could Hit $200,000 By End Of 2024 According to a report by Standard Chartered shared on the X (formerly Twitter) platform, BTC&#8217;s price could reach $200,000 by end-2025. There is the potential for Bitcoin to hit this price level with $50 to $100 billion flowing into the Spot Bitcoin ETFs, says the bank\u2019s Head of Digital Assets Research Geoff Kendrick and Precious Metal Analyst Suki Cooper. Related Reading: Shiba Inu Breakout To $0.001? Rumored 9.25 Trillion SHIB Token Burn Could Be The Catalyst Their projections stem from the fact that an approval of these Spot Bitcoin ETFs could happen as soon as this week. If that happens, Kendrick and Cooper state that will be a key driver of Bitcoin\u2019s price to the upside, something similar to what happened with Gold ETPs. Interestingly, Standard Chartered predicts that BTC could hit $100,000 before this year runs out.\u00a0 Elaborating on BTC enjoying similar gains to Gold (when Gold ETPs were approved), the bank expects that such gains will materialize over a shorter period for the flagship crypto token. This is based on their view that the Spot BTC ETF market will develop quicker than the Gold ETPs did.\u00a0 The amount of inflows that these Spot Bitcoin ETFs could witness has continued to be up for debate. Crypto research firm Galaxy Digital took a more conservative stance as they project that only about $14 billion will flow into these funds in the first year. Meanwhile, VanEck\u2019s advisor, Gabor Gurbacs, is only choosing to look at the long term. BTC reaches new 1-year high | Source: BTCUSD on Tradingview.com \u201cTrillions, Not Billions\u201d In The Long Term Commenting on Standard Chartered\u2019s report, Gurbacs mentioned that he prefers to look at how much could flow into these funds in the longer term rather than now. With that in mind, he projects that trillions of dollars will flow into Spot Bitcoin ETFs in the long term. Specifically, he makes a case for $2.5 trillion flowing into these BTC assets.\u00a0 Related Reading: Rocket Carrying Physical Dogecoin To The Moon Takes Off, But Why Is Price Struggling? He explained that this could easily happen, considering that there are roughly $500 trillion in assets globally. As such, $2.5 trillion, representing just 0.5% of the global allocation, flowing into the Bitcoin ecosystem shouldn\u2019t be a problem. He also bases his projection on the fact that Bitcoin won\u2019t stop rising in value as fiat currencies continue to weaken. BTC has no top because fiat has no bottom, he says. Gurbacs also expects that Bitcoin will enjoy more acceptance once these Spot Bitcoin ETFs are approved. He says that banks, financial service firms, and regulators will turn from \u201cenemies of Bitcoin to allies of Bitcoin.\u201d This is \u201cimmeasurably valuable\u201d as BTC adoption can level, he remarked. Featured image from Premium Times, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":568721,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,9960,656,1119,1122,1144,78790,1944,89193,84647,8780,91123,91122],"class_list":["post-568715","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-etfs","tag-bitcoin-news","tag-btc","tag-btc-price","tag-btcusd","tag-btcusdt","tag-etf","tag-etf-news","tag-spot-bitcoin-etf","tag-standard-chartered","tag-standard-chartered-bitcoin","tag-standard-chartered-news"],"acf":[],"yoast_head":"\n<title>Global Mega Bank Standard Chartered Releases Bullish Forecast For Spot Bitcoin ETFs<\/title>\n<meta name=\"description\" content=\"Standard Chartered Bank is the latest to give its 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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