The approval, eagerly awaited for months, signals a new era for the Bitcoin industry in the region. Major asset managers have been gearing up for this event, after Hong Kong's Securities and Futures Commission approved three Spot Bitcoin ETF applications earlier this month.
Eric Balchunas and James Seyffart highlighted the fees for the ETFs as lower than initially predicted, considering it a "good sign." These ETFs are expected to attract substantial interest from both local and international investors, positioning Hong Kong as a premier Bitcoin investment destination.
A Hong Kong spot Bitcoin ETF issuer mentioned that the issuance scale for Bitcoin and Ethereum spot ETFs in Hong Kong is expected to exceed the first-day scale in the United States, possibly reaching $200-300 million.
"China AMC is pretty confident that HK can outdo the US in bitcoin ETF flows and volume on day one. Also says other regions like Singapore and Middle East could seek out the ETFs altho confirmed off limits for China mainland investors," said Balchunas, emphasizing the potential impact on Bitcoin ETF flows in Hong Kong.
[
add
]
[
|
|
...
]