Citi analysts have raised their 12-month price target for Bitcoin to $113,000 from $82,000, according to Forbes, and also expect Ether to move above $3,000. The bank linked its outlook to a gradual increase in crypto allocations by investment advisers and brokerages, which it said could channel more money into Bitcoin exchange-traded funds. Citi estimates that this trend could bring about $5 billion of inflows to Bitcoin ETFs going forward. The report also noted that U.S. spot Bitcoin ETFs currently hold about $110 billion in assets under management and around 1.3 million BTC. Among them, BlackRock’s IBIT holds more than 800,000 BTC. Citi said continued institutional allocation could help ETF inflows pick up again.
Forbes reported that Citi analysts raised their 12-month Bitcoin price target to $113,000 from $82,000. The analysts also said they expect Ether to move above $3,000.
Citi tied that view to a gradual increase in crypto allocations by investment advisers and brokerages, saying that shift could drive more capital into Bitcoin ETFs. The bank estimates the trend could bring about $5 billion in inflows to Bitcoin ETFs.
U.S. spot Bitcoin ETFs currently hold about $110 billion in assets under management and around 1.3 million BTC. BlackRock’s IBIT accounts for more than 800,000 BTC of that total.
Citi said Bitcoin ETF inflows could recover further as institutional allocation money continues to enter the market.
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