Bitcoin Could Hit $500K by 2028 with the Help of ETFs and Falling Volatility, Says Standard Chartered.

Standard Chartered forecasts Bitcoin’s price could surge to $500,000 by 2028, driven by reduced volatility and enhanced access via spot bitcoin ETFs, making it an increasingly attractive hedge against challenges in traditional financial systems.

Geoffrey Kendrick, the bank’s global head of digital assets research, explained in a recent note that Bitcoin’s volatility will likely decrease as the U.S. exchange-traded fund (ETF) market matures. Along with growing institutional investments in spot bitcoin ETFs, this improved access will strengthen Bitcoin’s role in a two-asset portfolio alongside gold. As these trends push the portfolio toward an optimized state, Bitcoin’s value is expected to appreciate significantly over time.

Kendrick projected that these factors would propel Bitcoin’s price to $500,000 before the end of the Trump administration. The bank’s 2025 target for Bitcoin is $200,000, and its 2026 target is $300,000.

Currently priced around $98,000, Bitcoin’s value is also influenced by fluctuations in the bitcoin-gold ratio, which has recently reached its lowest point since mid-November, with gold prices climbing due to ongoing concerns about a U.S.-China trade war and increased Chinese demand.