A bitcoin ETF approval could revolutionize the cryptocurrency the way it did investing in gold a generation ago, and send bitcoin’s price rocketing to $200,000 by the end of next year, according to Standard Chartered. All eyes are on the Securities and Exchange Commission in the runup to its Jan. 10 deadline to approve or reject one of multiple applications to launch a spot bitcoin exchange-traded fund. The agency is widely expected to approve more than one ETF, in order to level the playing field from the beginning. “We see this as a watershed moment for normalizing bitcoin participation by institutional money, and we expect approval to drive significant flows and price upside for bitcoin,” Geoffrey Kendrick, a London-based analyst at Standard Chartered, said in a note Monday. “If ETF inflows materialize as we expect, we think an end-2025 level closer to $200,000 is possible.” The British bank assumes 437,000 to 1.32 million…
This week’s bitcoin ETF decision could drive the cryptocurrency to $200,000 in 2025, says Standard Chartered
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