Standard Chartered Bank has forecasts a substantial investment surge in spot bitcoin ETFs, predicting inflows of $50-100 billion in 2024, aligning with the SEC’s anticipated approval of these ETFs.
This projection is near to the launch of gold ETFs, particularly the SPDR Gold Shares (GLD).
In 2004, GLD was introduced when the total value of above gold stood at around $2.2 trillion, compared to Bitcoin’s current market cap of $0.86 trillion.
Adjusting GLD’s $88 billion inflows to bitcoin’s market cap, analysts, including Geoffrey Kendrick, estimate around $34 billion flowing into BTC ETFs, potentially reaching $130 billion.
Moreover, various applicants in the sector, like VanEck, Galaxy, and Bitwise, also predicted substantial inflows ranging from $1 billion in the initial days to a market size of approximately $72 billion over five years.
Standard Chartered Bank expects these ETFs to significantly boost bitcoin prices, possibly reaching $200,000 by 2025, surpassing the growth seen in gold ETFs.
The bank also notes the emerging market for spot ether ETFs, expecting approval in the near future.
This development is influenced by the SEC’s clear posture on ETH compared to BTC, suggesting an interesting future for the price of both bitcoin and ether ETFs.
Also Read: Former SEC Chair Clayton Called Out on Bitcoin ETFs
