Bloomberg’s analysts have proposed new Bitcoin and Ethereum ETFs with an estimated management size of over $1 billion in Hong Kong within the next two years. This is a significant increase from the previous prediction of $500 million made by Eric Balchunas, senior ETF analyst at Bloomberg.
Later, he discussed on X some of the significant hurdles that investors in the area might encounter. The rigorous regulations on cryptocurrency in China make it difficult for mainland residents to participate fully.
Investors based in Mainland China are unlikely to have the ability to purchase Hong Kong-traded spot Bitcoin and Ethereum ETFs due to restrictions preventing them from investing in virtual assets. Alternative methods exist, but they are less common and could potentially be discontinued, according to a note by Rebecca Sin.
— Eric Balchunas (@EricBalchunas) April 17, 2024
Reaching the milestone of a $1 billion market in Hong Kong for crypto assets depends on enhancing the financial infrastructure, specifically for handling cryptocurrencies. Currently, Bitcoin ETF assets under management (AUM) in this region add up to $250 million from launched funds. This development has attracted significant attention from major players like ChinaAMC, leading them to propose spot ETFs – a decision that is expected to significantly expand Hong Kong’s crypto ETF market.
Read More
- 15 Charged for converting Drug Cartels’ Cash into Cryptocurrency in U.S.
- XRP Price Eyes $2 Support Level Amidst Market Correction
- OREO Unveils Six New Products for 2025
- PYTH PREDICTION. PYTH cryptocurrency
- ‘Brides’ Finds a Distributor in Neon for Latest New Vampire Horror Movie
- Google’s Willow Quantum Chip Sparks Bitcoin Security Debate
- TROTOAR Gallery Bridges Local and Global Art with ‘That’s What’s Up!’
- ‘Fast and Furious’ Star Paul Walker Remembered 11 Years After His Death
- Apple Lands Anya Taylor-Joy Led Drama ‘Lucky,’ Based on Bestseller
- India signals no fixed timeline for crypto rules, calls for global alliance
2024-04-17 23:32