RE: 400-500p tomorrow2 Jul 2025 16:27
Standard Chartered (LON:STAN) sees Bitcoin climbing to $135,000 by the end of Q3 and reaching $200,000 by year-end, driven by strong ETF and corporate treasury demand alongside favorable U.S. policy signals.
“Strong inflows drove Q2 price gains – U.S. spot ETFs saw inflows of $12.4bn (120,000 BTC) during the quarter, and Bitcoin treasury companies added 125,000 BTC,” said Geoff Kendrick, noting the combined 245,000 BTC haul marked the second-best quarter ever for both categories.
Kendrick expects Q3 to exceed those figures, citing continued momentum in spot ETF demand, which has totaled $48.7 billion since launching in January 2024.
Bitcoin ETF inflows also “far surpassed $6.9bn of inflows into gold ETFs,” according to the report, suggesting a shift in investor preference despite geopolitical uncertainty.
“We do not view Bitcoin as a geopolitical hedge, so the fact BTC ETF inflows outpaced gold ETF inflows is encouraging. We expect more net ETF buying in Q3 than we saw in Q2,” the analyst wrote.
He also highlighted possible regulatory catalysts, including the anticipated U.S. stablecoin bill and a potential Trump nomination to replace Fed Chair Jerome Powell by October.