Geoff Kendrick, head of crypto research at British Bank Standard Chartered, said that there may be an investment flow into Bitcoin from US pension funds. According to Kendrick, a total of $50 to $100 billion will be invested in spot Bitcoin ETFs in 2024.

Approximately 70% of the population are involved in retirement funds, also known as 401(k)s. On behalf of millions of employees and retirees, the funds maintain $7 trillion in assets.

$100,000 by the end of the year

Kendrick, on the other hand, stated last week that he still believes Bitcoin will hit $100,000 by the end of the year and $200,000 by 2025.

Ether will be impacted more by ETFs

Kendrick also talked about spot Ether ETFs awaiting U.S. Securities and Exchange Commission (SEC) approval. The bank analyst stated that investments in Ether ETFs could be between $20 and $35 billion by the end of this year. According to Kendrick, Ether will be impacted more by ETFs:

“It’s likely the price impact will be even greater for ether than it has been for Bitcoin in the run-up to the approval of a spot ether ETF. That’s partly because the proxies, such as the European ETFs, the Canadian ETFs and the Grayscale Trust for ether are smaller as a percentage of market cap than they are in bitcoin. So the build up of excess demand is more likely to be even larger for ether than it was for bitcoin,” he said.