Hong Kong’s most anticipated spot bitcoin exchangeThe industry reports that a number of ETFs are expected to debut by April’s end.
NEW: 🇭🇰 Hong Kong #Bitcoin According to reports, ETFs could start trading on 30 April and bring in 25 billion dollars.
Only a matter time🚀 pic.twitter.com/Y1Xo4JVrO7
— Bitcoin Magazine (@BitcoinMagazine) April 17, 2024
Hong Kong Securities and Futures Commission recently approved A number of fund managers are offering spot bitcoin ETFs. OSL (a crypto-infrastructure provider to some fund managers) stated, following this announcement, that Bitcoin ETFs were aiming for launching as early as the end of April.
Markus Thielen of the research firm, 10x, stated as well that Bitcoin ETFs may start trading on April 30th. Finalizing the details with regulators is what will determine when to launch.
Analysts predict that the funds will attract significant capital flows once listed. Singapore-based Matrixport expects mainland Chinese investors to pour up to $25 billion into Hong Kong’s Bitcoin ETFs Southbound Stock Connect Program
Thielen shared this view, noting that ETFs can yield up to $25 billion in returns if made fully available for Chinese investors. He noted, however, that Chinese participation could take up to six months because of evolving regulations.
The ETFs still mark an important milestone for Bitcoin in Asia. The ETFs provide investors with a way to gain regulated access to bitcoin.
They are also competitive on a global scale due to their unique ability to redeem in kind. It allows you to exchange bitcoins for ETF shares directly, increasing the efficiency.
Hong Kong’s position as the rising Bitcoin center is cemented by its approval of ETFs. In response to the growing demand for Bitcoin products and services, Hong Kong is rushing to grant licenses.
The Bitcoin currency is the most popular cryptocurrency. next It is an excellent time to launch the ETF. Many believe that the event of supply shock will push Bitcoin to new heights. This is good news for linked investment products.
Hong Kong’s ETFs on spot prices could inspire other Asian countries to adopt them if they are successful. If successful, the domino effects would increase regional Bitcoin markets and participation.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: bitcoinmagazine.com
