As you may recall, the Hong Kong Securities and Futures Commission recently approved spot Bitcoin ETFs for many major asset managers, paving the way for the city to become a leading hub.
A new development has occurred in Hong Kong, which is on its way to becoming a cryptocurrency center after the USA.
While Hong Kong is accelerating the listing of its first spot Bitcoin and Ethereum ETF products, China's top asset managers are currently trying to complete final preparations to begin trading by April 30.
At this point, Bitcoin and Ethereum spot ETFs are finally coming live in Hong Kong. In an interview with Bloomberg, a spokesperson for local asset management company HashKey Capital announced that the firm's Bosera-HashKey Capital spot products will begin trading on April 30.
While it is thought that ETFs in Hong Kong will be different from US ETFs, it is also wondered whether investors in China will participate in ETF trading in Hong Kong.
At this point, it is estimated that the contribution of Chinese investors to ETF trading may reach 25 billion dollars. While many analysts welcome the start of ETF trading in Hong Kong, they state that they do not expect a significant increase in the market as much as its impact on the US ETF market.
*This is not investment advice.