Drawing parallels to the introduction of gold ETFs, the experts at Standard Chartered highlight the potential transformative impact of Bitcoin ETFs on the market, citing the success of SPDR Gold Shares (GLD), which became the world’s largest ETF after its launch in 2004.
“We anticipate Bitcoin experiencing similar gains once a US spot ETF is approved, but within a shorter timeframe of one to two years,” the bank asserts.
The bank further predicts that Bitcoin spot ETFs could generate between $50 billion to $100 billion in capital by 2024, with Bitcoin trading at $100,000 by the year’s end, and potentially reaching a value of $200,000 by the end of 2025.
According to Standard Chartered, the potential approval of spot Bitcoin ETFs will serve as a game-changer, facilitating institutional investor participation and normalizing BTC trading.
As analysts continue to make predictions, the focus now falls on the US Securities and Exchange Commission (SEC), which Bloomberg reports will likely approve Bitcoin ETFs, prompting an immediate start to trading.
Furthermore, according to sources cited by Fox Business, BlackRock, a frontrunner in the race, expects SEC approval to launch a spot Bitcoin exchange-traded fund (ETF) later this week.