With the opening of the Hong Kong stock market, the Spot Bitcoin Exchange Traded Fund (ETF) has officially started operations in Hong Kong.
Official: Spot #bitcoin ETFS starts trading in Hong Kong 🇭🇰 pic.twitter.com/yI8HsqRECf
— Bitcoin Magazine (@BitcoinMagazine) April 30, 2024
The approval, which has been awaited for months, heralds a new era for the region’s Bitcoin industry. Major asset managers are gearing up for the event after the Hong Kong Securities and Futures Commission approved three bills. spot bitcoin ETF Apply early this month. china asset management, harvest global investment, Bosera International and HashKeyall these asset management companies have received regulatory approval to offer these ETFs.
Bloomberg ETF analysts Eric Balchunas and James Seifert shared about the ETF’s fees in their X post, saying they were lower than originally expected and calling this a “good sign.”
The Hong Kong Spot Bitcoin/Ether ETF has been officially approved to begin trading on April 30th. Fees are 30bps, 60bps, and 99bps, which are lower than expected on average, which is a good sign. On this, we’ll be doing his one-hour analyst Q&A with our local Hong Kong team. Register here and bring your questions: https://t.co/GzzCZailx3 https://t.co/AvJ6dv2Xha
— Eric Balchunas (@EricBalchunas) April 24, 2024
These ETFs are expected to attract significant interest from domestic and international investors, positioning Hong Kong as a prime destination for Bitcoin investment opportunities.
Hong Kong Spot Bitcoin ETF issuer reports Said WuBlockchain “The issuance size of Hong Kong’s Bitcoin and Ethereum spot ETF starting tomorrow at UTC+8 is expected to reach $200 million to $300 million, exceeding the first day issuance size of the United States of $125 million.” ”
“China AMC is quite confident that Hong Kong can outperform the US in first-day Bitcoin ETF flows and trading volumes. “Other regions such as Singapore and the Middle East may also be on the lookout for ETFs,” Balciunas said. echoed With a similar statement. “An amount close to $125 million on the first day would be unrealistic for Hong Kong. This is equivalent to $21 billion in the United States!”
Marcus Thielen of Singapore-based Matrixport and 10x Research predicts that Hong Kong’s spot Bitcoin ETF could spark up to $25 billion in new demand, making Bitcoin a mainstream asset. It emphasizes that these financial instruments may play an important role in legitimizing them as a class.
When ETFs start operating in Hong Kong, Hong Kong also Bitcoin Asia Conferenceadvertising for both the conference and the ETF begins next week. now It is sold to domestic residents.
Giant #bitcoin Days after Spot Bitcoin ETF approval, Asian conference ad spotted in Hong Kong 🇭🇰
Asia is coming 🚀
— Bitcoin Magazine (@BitcoinMagazine) April 17, 2024
