With the asset class that is expected to increase in value in the coming years, the units that invest in it will come. According to Standard Chartered, the number of sovereign wealth funds investing in bitcoin is expected to continue to increase. In fact, $ 870 billion asset manager predicts that the trend will be a driving force for its 500,000 dollar projection for BTC in 2028.
The statement follows Abu Dhabis Sovereign Wealth Fund recently invests in Blackrock’s Ishares Bitcoin Trust (Ibit) ETF. They were really not alone, as they joined a handful of similar wealth funds that have invested in the asset class through exchange -traded products. It seems that the ongoing trend is one that analysts expect to grow.
Only in: $ 870 billion Asset Manager Standard Chartered expects more superb wealth funds to start buying Bitcoin.
– watcher.guru (@watcherguru) February 18, 2025
Standard Chartered expects foreign wealth funds to buy more bitcoin
In recent years, an never -previously seen growth has hit the digital asset sector. Bitcoin Specifically, has driven the power of adoption and appearance. In 2024, the asset class reached a six -digit price for the first time, while he showed that its future is as light as it has ever been.
It is likely to stimulate even more involvement in the asset class in the coming years. According to a asset manager, governments will be increasingly involved. Specifically, Standard Chartered has said that they expect superb wealth funds to start buying bitcoin.
Also read: President Trump signs executive order for Sovereign Wealth Fund
Abu Dhabi recently invested in Blackrock’s Bitcoin ETF, but they are not the only superb wealth fund that includes the leading Cryptocurrency. In fact, Norway, Singapore, Saudi Arabia and Canada have all invested in bitcoin through superb wealth funds.
With US President Donald Trump, who signs an executive order to create the US’s first superb wealth fund, many expect the country to be next. Trump’s affinity for the asset class cannot be underestimated. If he chooses to deal with a BTC reserve, it can only be further the price track of the asset. In fact, Standard Chartered believes that it will target $ 500,000 before Trump’s second mandate is over.
