Standard Chartered: Sovereign Wealth Funds Will Buy More Bitcoin
With the asset class expected to surge in value in the coming years, so to will the entities who invest in it. According to Standard Chartered, the number of sovereign wealth funds investing in Bitcoin is expected to continue increasing. Indeed, the $870 billion asset manager forecasts the trend will be a driving force of its $500,000 projection for BTC by 2028. The statement follows Abu Dhabi’s sovereign wealth fund recently investing in BlackRock’s iShares Bitcoin Trust (IBIT) ETF. They were certainly not alone, as they joined a handful of similar wealth funds that have invested in the asset class through exchange-traded products. It appears as though the ongoing trend is one that analysts expect to grow. JUST IN: $870 billion asset manager Standard Chartered expects more sovereign wealth funds to start buying Bitcoin. — Watcher.Guru (@WatcherGuru) February 18, 2025 Also Read: Fidelity Says Governments Are Likely to Buy Bitcoin in 2025 Standard Chartered Expects Foreign We...