As the financial world waits to see when and which Bitcoin spot ETF applications will receive approval, Standard Chartered Bank on Monday predicted that the price of Bitcoin will top $200,000 by the end of 2025.
“If the EFF-linked income streams materialize as we expect, we think it will be close to the end-2025 level. [$200,000] Jeffrey Kendrick, head of financial research at Standard Chartered Bank, said in a note to investors.
Bitcoin ETFs track the current price of Bitcoin and are designed to track the price of Bitcoin, giving investors exposure to the digital asset without having to purchase and store it. Bitcoin ETFs are managed by an investment firm that owns Bitcoin.
BlackRock, Grayscale, Arch, iShares, Bitwise, VanEck, Wisdomtree, Invesco, Fidelity, and Franklin have ETFs in the final approval process.
Kendrick's 2025 forecast is in line with their estimate of $100,000 by the end of 2024.
“ETF adoption is a key driver of BTC value,” Kendrick said. “We see this as a watershed moment for the normalization of Bitcoin participation by institutional funds, and we expect confirmation of higher revenues and higher BTC prices.”
Kendrick's statement Bloomberg senior ETF analyst Eric Balchunas said on Thursday that the Bitcoin ETF could see $100 million in a decade.
“A couple of billion would be a strong new year for any category, but I'd be a little more optimistic, like $10 billion a year,” Balchunas said.
“It's the short term that's hard to predict here. In the interim, we'll see that, maybe in the ballpark [$30 billion] to the [$50 billion] More than three years,” he continued. “And then maybe in five to ten years, gold will reach a point where it's worth $100 billion.”
On Saturday, Balchunas in a post on Twitter put the probability of a Bitcoin ETF approved by the SEC in January at 95%.
“I would go with 5% at this point. But you have to leave a little window open for these things,” Balchunas said.
Edited by Ryan Ozawa.
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