The price of Bitcoin has recently reached its highest point in two years, driven by speculation that the US Securities and Exchange Commission (SEC) will soon be giving the green light to the initial batch of Bitcoin exchange-traded funds (ETFs).

Standard Chartered Bank predicts substantial investments into these funds should the SEC grant approval. According to their report, the bank expects inflows ranging from $50 billion to $100 billion this year if the asset managers applying for spot Bitcoin ETFs are successful. This projection would translate to the inclusion of between 437,000 and 1.32 million new bitcoins within US ETFs by the close of 2024.

Geoff Kendrick, head of FX Research at Standard Chartered Bank, wrote in a research note on Monday, “If ETF-related inflows materialize as we expect, we think an end-2025 level closer to $200,000 is possible. This assumes that between 437,000 and 1.32m new bitcoins will be held in spot US ETFs by end-2024.”

The SEC is slated to announce its decision regarding the approval or rejection of Bitcoin Spot ETFs by January 10th. Up to 13 applicants are set to receive their verdicts on the same day to avoid giving preferential treatment to any one applicant with a first-mover advantage.


One analyst calls it “One of the most significant events in crypto history.”


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