Fast Take
Commonplace Chartered Financial institution’s current report, dated Jan 8. 2024, offers an analytical perspective on a doable surge in Bitcoin’s worth, contingent on the projected approval of spot ETFs by the US Securities and Trade Fee (SEC).
The report attracts a major comparability with historic gold worth escalations following the approval of gold ETFs, indicating the potential for an accelerated worth improve for Bitcoin, given the anticipated fast maturation of the Bitcoin ETF market.
The evaluation contends that Bitcoin ETFs may see inflows starting from $50 to $100 billion by 2024. This inflow is deemed a pivotal issue propelling Bitcoin’s worth, presumably driving it to a staggering $200,000 by the top of 2025.
The report initiatives that between 437,000 and 1.32 million new bitcoins will probably be integrated into spot US ETFs by 2024’s finish, equating to roughly $50 to $100 billion of whole inflows. This projection fortifies a bullish stance for Bitcoin’s worth trajectory, contingent on the approval and subsequent inflows into the spot ETFs.
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