Spot-based bitcoin ETFs in the U.S. and potential approval in Hong Kong are driving bitcoin's surge to new highs. Chinese investors seeking alternatives to domestic assets like real estate and stocks are poised to enter the market.
Chinese investors, hindered by domestic market troubles, may flock to bitcoin ETFs for wealth storage. This influx could mirror a 2013 buying frenzy, turbocharging bitcoin's popularity and value.
"It's not just for the access to hedge funds and family offices based in the region; it's also because of the access it gives to mainland investors." - Noelle Acheson, Crypto Analyst
"Chinese authorities most likely realize that a significant portion of their citizens will be diversifying into hard assets... and would probably prefer that they be in assets not related to the U.S. economy." - Noelle Acheson, Crypto Analyst
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