💥Standard Hartered Analysis:
👉Bitcoin is Ready for $7 Trillion Funds
Geoff Kendrick, director of crypto research at British banking giant Standard Chartered, said that there may be an investment flow into Bitcoin from US pension funds. According to Kendrick, a total of $50 to $100 billion will be invested in spot Bitcoin ETFs in 2024.
There are approximately 70 million active participants in retirement funds, also known as 401(k). The funds hold $7 trillion in assets on behalf of millions of employees and retirees.
Behind $100k estimate
On the other hand, Kendrick stated last week that he stands by his prediction that Bitcoin will reach 100 thousand dollars in 2024. The analyst did not have a target of 200 thousand dollars for 2025
🔥“The impact on Ether will be greater”
Kendrick also touched on spot Ether ETFs pending U.S. Securities and Exchange Commission (SEC) approval. The bank analyst stated that investments in Ether ETFs could be between $20 and $35 billion by the end of this year. Kendrick thinks the ETF impact will be greater for Ether:
“In the run-up to the approval of the Spot Ether ETF, the price impact on Ether is likely to be greater than on Bitcoin. This is partly because assets held in Grayscale's Ether fund, as well as Ether ETFs in Europe and Canada, make up a small percentage of Ether's total market cap. This was greater in Bitcoin. Therefore, it seems likely that the excess demand buildup for Ether will be greater than for Bitcoin.
