2024

Bitcoin ETF

Bitcoin

Spot

Raise

Analysts at global asset management firm <a href="https://www.newsbtc.com/news/bitcoin-new-ath-by-year-end/">Bernstein</a> have revised their former Bitcoin target to $200,000, foreseeing the influx of <a href="https://www.newsbtc.com/news/bitcoin-spot-etf-record-consecutive-weeks-of-inflows-as-investor-confidence-grows/">Spot Bitcoin ETFs inflows</a> catalyzing this massive price surge.&nbsp; 
<h2 id="bernstein-analysts-raise-bitcoin-target-to-200-000">Bernstein Analysts Raise Bitcoin Target To $200,000</h2> 
In a note to clients, Bernstein analysts, Gautam Chhugani and Mahika Sapra predicted that Bitcoin could reach $200,000 by the end of 2025. This new price target comes after analysts <a href="https://www.newsbtc.com/news/bitcoin-headed-for-150000/">foresaw BTC hitting $150,000</a> earlier in May. At the time, the analysts disclosed that they anticipated about $70 billion in <a href="https://www.newsbtc.com/news/spot-bitcoin-etfs-record-over-800-million-in-net-inflows-in-debut-week-details/">inflows from Spot Bitcoin ETFs</a> between 2024 and 2025. 
Presently, the analysts have <a href="https://www.newsbtc.com/news/bullish-outlook-target-price-of-90000-for-bitcoin-by-years-end-according-to-bernstein/">solidified their predictions</a>, reiterating that Spot Bitcoin ETFs would be the trigger driving Bitcoin’s price to $200,000 next year. Analysts have estimated that <a href="https://www.newsbtc.com/news/bernstein-predicts-spot-etfs-bitcoin-market-if-greenlit/">Spot BTC ETFs</a> could grow in demand to represent about 7% of the total BTC in circulation.&nbsp; 
They disclosed their expectations for Spot Bitcoin ETFs to <a href="https://bitcoinist.com/spot-bitcoin-etfs-record-inflows/" rel="nofollow">grow significantly in adoption</a>, highlighting possibilities of approvals from major wirehouses and large <a href="https://bitcoinist.com/morgan-stanley-spot-bitcoin-etfs/" rel="nofollow">private banking platforms</a> in Q3 and Q4. The analysts also disclosed that almost 80% of Spot Bitcoin ETF inflows are generated by self-directed <a href="https://bitcoinist.com/bitcoin-spot-etfs-acquires-25729-btc-in-a-week/" rel="nofollow">retail investors</a> who invest through brokerage platforms.&nbsp; 
They believe that institutional investors’ demand for Spot BTC ETFs is still in its early stages. However, as the market continues evolving <a href="https://bitcoinist.com/crypto-bank-of-america-now-offer-bitcoin-etfs/" rel="nofollow">institutional investors’ interest</a> could rise, adding massively to the current inflows in Spot Bitcoin ETFs.&nbsp; 
Bernstein analysts wrote in their notes to clients that currently around $15 billion of net new flows have been brought in by ETFs combined. The cumulative inflows in Spot Bitcoin ETFs according to <a href="https://farside.co.uk/?p=1321" rel="nofollow">Farside data</a>, have reached $14.66 billion since its launch on January 11.&nbsp; 
Due to the high demand and massive capital pouring into this asset class, analysts expect Spot Bitcoin ETFs to be equivalent to 7% of <a href="https://www.newsbtc.com/news/bitcoin-supply-loss-hits-10-crash-happened-time/">BTC’s circulating supply</a> by 2025 and 15% by 2033. They also anticipate Spot Bitcoin ETF’s total Assets Under Management (AuM) to reach $190 billion by ‘the 25E market peak and a whopping $3 trillion by 2033.&nbsp; 
This bullish prediction underscores the analyst’s confidence in Spot BTC ETFs, despite it being a newly discovered asset class. In less than six months, the total assets under management for Spot Bitcoin ETFs have <a href="https://www.etf.com/topics/spot-bitcoin#:~:text=Spot%20Bitcoin%20ETFs&amp;text=With%2034%20ETFs%20traded%20on,Currency" rel="nofollow">grown</a> to $59.19 billion, with an average expense ratio of 1.07%. This massive growth has been spearheaded by leading asset management companies like <a href="https://bitcoinist.com/blackrock-amplifies-its-btc-bet-as-spot-bitcoin-etf-aum-barrels-past-21-billion/" rel="nofollow">BlackRock</a>, Fidelity and others.&nbsp; 
<h2 id="btc-price-enters-fresh-bull-cycle">BTC Price Enters Fresh Bull Cycle</h2> 
In their note, Bernstein analysts also declared that BTC has officially entered a new bull market cycle. The analysts disclosed that this <a href="https://www.newsbtc.com/news/bitcoin-bulls-warming-up-as-spot-etf-inflows-exceeds-1-3-billion-in-2-weeks/">bull cycle</a> is currently driven by the recent <a href="https://bitcoinist.com/breaking-bitcoin-halving-2024-complete-what-expect/" rel="nofollow">Bitcoin halving event</a>, which took place on April 20.&nbsp; 
They anticipate the rise of <a href="https://bitcoinist.com/major-news-events-bitcoin-price/" rel="nofollow">new catalysts</a> that could trigger an increase in demand for BTC, propelling its price to new levels. In contrast, crypto analyst, Michael van de Poppe has <a href="https://x.com/cryptomichnl/status/1803737917078052941?s=46" rel="nofollow">predicted</a> that BTC has likely reached its bottom between the price range of $63,000 and $65,000.&nbsp; 
As of writing, the cryptocurrency is trading at $63,865, reflecting a weekly decline of 4.76%. Poppe has suggested a <a href="https://bitcoinist.com/bitcoin-price-prediction-new-all-time-highs-possible-soon/" rel="nofollow">potential reversal</a> on the horizon, predicting that Bitcoin could find itself in <a href="https://www.newsbtc.com/bitcoin-news/bitcoin-breakout-blueprint-analyst-reveals-roadmap-for-imminent-surge/">upward momentum</a> soon.&nbsp; 
<img loading="lazy" decoding="async" class="size-medium" src="https://www.tradingview.com/x/lZOAjDws/" alt="Bitcoin price chart from Tradingview.com (Bernstein)" width="3286" height="1576">

Bitcoin Spot ETFs Effect: Bernstein Analysts Revise BTC Target To $200,000, Here’s When

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