Citigroup Raises Bitcoin Forecast by $31,000 as ETF Money Returns

Citigroup has raised its 12-month price target for bitcoin to $113,000 from $82,000, CoinDesk reported on Thursday. The bank also lifted its ether target to $3,028 from $2,240, according to a note it issued Wednesday.

Citi pointed to the return of money into exchange-traded funds (ETFs) and supportive economic conditions. Bitcoin was trading near $84,000 and ether near $2,700 on Thursday. The new targets imply gains of roughly 35% and 12%.

What Citi Expects From Investors

The bank forecasts $5 billion of inflows into crypto investment products such as ETFs over the next 12 months. It expects the pace to be slower but stickier. Financial advisers and brokerages, it says, will raise their bitcoin allocations in small steps.

That would be a change from the past year. Yahoo Finance, carrying a Decrypt report, said spot bitcoin ETFs ended the 12 months to September with a small net outflow. Six of those months were negative. June alone saw $4.51 billion leave.

Recent Fund Flows

CoinDesk reported that U.S. spot bitcoin ETFs were down $5.8 billion for the year as of July 13. They have since moved to net inflows of about $800 million for 2026. The Yahoo Finance report put the figure at $880 million, against $21.37 billion taken in during 2025.