Two key insights for spot Bitcoin ETFs: Excitement is at its peak!

Former SEC chairman Jay Clayton said that approval of spot Bitcoin ETFs is inevitable, while the banking giant set a target of $200,000 for BTC.

Bitcoin (BTC), the leading cryptocurrency, has been experiencing spring weather in recent days. Companies that manage trillion-dollar holdings, such as BlackRock and Fidelity, have applied for spot Bitcoin ETFs. With this application, the appetite of bulls in the crypto market has increased. Spot Bitcoin ETFs, which have been on the agenda since September, have entered the final plateau. The SEC is expected to rule on spot Bitcoin ETF applications on Jan. 10.

Statements from the sector regarding the agenda continue to come. Former SEC chairman Jay Clayton stated that the approval of spot Bitcoin ETFs is inevitable. Banking giant Standard Chartered, on the other hand, made a remarkable price prediction for BTC.

Spot Bitcoin ETFs raise expectations!

Institutional firms' spot Bitcoin ETF applications are awaiting approval on the SEC's desk. Crypto investors have come to believe that they will get their long-awaited confirmation. Bullish appetite prevails in the crypto market.

Former SEC chairman Jay Clayton was a guest on CNBC the other day. Speaking to CNBC about ETFs, Clayton said that there is nothing left to decide and that approval is inevitable. The former SEC chairman stated that if approved, not only BTC but also the cryptocurrency market will take a big step.

Clayton, who knows the internal mechanics of the SEC well, said that approval is inevitable, which attracted great attention from investors. Apart from Clayton's statement, another opinion was on the agenda. Banking giant Standard Chartered issued a note yesterday. In 2024 alone, there will be an inflow of between $50 billion and $100 billion into spot Bitcoin ETFs, the note said.

Opinions continue to come about the price levels that BTC will reach if spot Bitcoin ETFs are approved. Standard Chartered has predicted that the BTC price will rise to over $200K by the end of 2025. The banking giant argued that ETFs will be the main driver in this bullish scenario.

Apart from its BTC comment, Standard Chartered made an interesting prediction about Ethereum. Standard Chartered reported that the SEC will approve the spot Ethereum ETF in the second quarter of this year.