NEW: 🇭🇰 Hong Kong #Bitcoin ETFs to start trading by 30th April and could bring in $25 billion: Reports
— Bitcoin Magazine (@BitcoinMagazine) April 17, 2024
Just a matter of time 🚀 pic.twitter.com/Y1Xo4JVrO7
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D-6 before the launch of Bitcoin and Ethereum ETFs in Hong Kong: How will the market react?
Wed 24 Apr 2024 ▪
3
min read ▪ by
Getting informed
▪
Hong Kong is poised to become a major player in the crypto ETF market. We are, of course, referring to the imminent launch of Bitcoin and Ethereum ETFs. This move could strengthen the city’s position as a key hub for digital assets.
April 15: Hong Kong Authorizes Spot Crypto ETFs
The SFC of Hong Kong has recently approved several spot funds, signaling the city’s intention to assert itself in the cryptocurrency realm. The first spot crypto ETFs are expected to be launched by the end of April. This would allow investors to buy shares representing cryptographic assets such as Bitcoin and Ethereum.
Hong Kong already allowed futures crypto ETFs, such as the CSOP Bitcoin Futures and the Samsung Bitcoin Futures. However, the launch of spot funds marks a significant turning point. It opens up prospects for greater capital. In this sense, some crypto expert analysts predict that these new funds could attract up to $25 billion from mainland China.
Crypto ETFs in Hong Kong: Promising Prospects
The launch of spot crypto ETFs is expected to boost the cryptographic industry in Hong Kong. According to Rebecca Sin, ETF analyst at Bloomberg Intelligence, these funds could reach up to $1 billion in assets under management by 2026.
Another fact: Chinese investors are increasingly interested in crypto ETFs. Therefore, the launch of these funds could stimulate the market. Moreover, some fund management companies are already ready to offer spot crypto ETFs. This includes firms such as Boshi International, HashKey Capital, and China Asset Management.
With the launch of spot crypto ETFs, Hong Kong aims to become a hub for digital assets in Asia. But that’s not all! It also positions itself as a major financial center for crypto ETFs. It remains to be seen if these new digital assets will be able to entice local and global investors!
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Je m'appelle Ariela et j'ai 31 ans. J'oeuvre dans le domaine de la rédaction web depuis maintenant 7 ans. Je n'ai découvert le trading et la cryptomonnaie que depuis quelques années. Mais c'est un univers qui m'intéresse beaucoup. Et les sujets traités au sein de la plateforme me permettent d'en apprendre davantage. Chanteuse à mes heures perdues, je cultive aussi une grande passion pour la musique et la lecture (et les animaux !)
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.