Standard Chartered Suggests Bitcoin May Approach $120,000 Amid ETF Inflows and Institutional Adoption

• Standard Chartered predicts Bitcoin could surpass its all-time high soon, driven by surging ETF inflows and capital movement.

• Strategy’s Bitcoin holdings now exceed $53.8 billion, with plans to raise $84 billion more, potentially controlling over 6% of all BTC.

• Institutional and state-level adoption—including by Abu Dhabi’s fund and U.S. state reserves—is fueling Bitcoin’s bullish momentum.

Standard Chartered forecasts Bitcoin reaching $120,000 by Q2, highlighting rapid ETF inflows and institutional interest fueling the surge.

What Drives Standard Chartered’s $120,000 Bitcoin Prediction for Q2?

In an interview with COINOTAG, Geoff Kendrick, Head of Digital Asset Research at Standard Chartered, spoke on Bitcoin’s potential to reach new heights. He attributes this possible surge to inflows into ETFs, Strategy’s (formerly MicroStrategy) investment strategy, and increased institutional engagement.

Kendrick emphasized that capital flows are instrumental to the current bullish trend. Data from Glassnode indicates that ETF inflows have strengthened over the last two weeks, coinciding with Bitcoin’s rebound from $84,000 to $99,000.

“Bitcoin’s price appreciation is now all about flows, and flows are coming in many forms, as the spot ETFs in the US have seen $5.3 billion of inflows over the past three weeks. On my price-adjusted calculation, that has only increased by $1.2 billion over this period, so the net real flow is more than $4 billion,” Kendrick mentioned.

Another crucial factor Kendrick highlighted is Strategy’s substantial Bitcoin accumulation. According to BitcoinTreasuries, the company has continuously acquired Bitcoin since late 2024, recently reaching a significant value of over $53.8 billion.

“They now hold 555,450 Bitcoins, which constitutes 2.6% of all Bitcoins that will ever exist. Their new strategy to raise an additional $84 billion to acquire more Bitcoin could lead to another 840,000 Bitcoins. At a $100,000 price, their holdings could surpass 6% of all Bitcoins that will ever exist,” Kendrick explained.

Kendrick also noted that upcoming 13F filings from ETFs and Strategy will provide clearer insights into their investment activities.

Moreover, the increasing participation of major institutions—including Abu Dhabi’s sovereign wealth fund, the Swiss National Bank, and Norway’s Norges Pension Fund—signals the growing acceptance of Bitcoin in conventional portfolios.

“At the end of December, Abu Dhabi’s sovereign wealth fund held a small 4,700 Bitcoin-equivalent position in IBIT. I expect this figure to have increased, with other long-term buyers possibly joining,” Kendrick stated.

Government actions in the U.S. are noteworthy as well. Recent reports show that states like Arizona, New Hampshire, Texas, and Oregon are advancing significant Bitcoin reserve legislation.

“New Hampshire recently became the first U.S. state to pass a Strategic Bitcoin Reserve bill, and I believe more states will follow suit,” he remarked.

Considering all these elements, Kendrick maintains an optimistic outlook for Bitcoin’s future price trajectory. However, he acknowledges that his forecast may be conservative.

“I apologize if my $120,000 Q2 target may be too low,” he concluded.

The blend of strong ETF inflows, aggressive accumulation by Strategy, increasing institutional involvement, and supportive local policies in the United States creates a conducive environment for Bitcoin. According to Standard Chartered, a new Bitcoin all-time high is not only feasible—it may be imminent.

Conclusion

With robust ETF inflows, significant institutional participation, and supportive regulations, the foundation for Bitcoin’s potential surge to $120,000 is strong. Investors should keep a close watch as these developments unfold.