Bitcoin

Ethereum

<ul><li>Ten financial institutions in Hong Kong are preparing to apply to launch Bitcoin spot ETFs, aiming to catch up with the U.S. market.</li><li>Charles d&#39;Haussy highlights the importance of Hong Kong introducing its own spot ETFs to avoid falling behind Western investors.</li><li>Discussions are underway for the potential launch of an Ethereum spot ETF in Hong Kong, which could enhance its position in the global crypto market.</li></ul>According to Singtao, a local media outlet in Hong Kong, the nation&#39;s financial sector is gearing up for substantial expansion in the Bitcoin ETF arena. Ten financial institutions are reportedly preparing to submit applications to launch Bitcoin spot exchange-traded funds (ETFs).Per the <a href="https://std.stheadline.com/daily/article/2577811/%E6%97%A5%E5%A0%B1-%E8%B2%A1%E7%B6%93-%E6%A5%AD%E7%95%8C%E7%B1%B2%E6%B8%AF%E7%9B%A1%E5%BF%AB%E6%8E%A8%E8%99%9B%E5%B9%A3%E7%8F%BE%E8%B2%A8ETF" rel="noopener noreferrer nofollow">report</a>, it has been nearly two months since the launch of the first Bitcoin spot ETF in the United States, which attracted over <a href="https://cryptotale.org/bitcoin-etfs-surge-boosts-market-experts-predict-bright-crypto-future/" rel="noopener noreferrer nofollow">$6 billion in net inflows</a> and currently boasts assets under management of over $50 billion. In contrast, despite opening applications for Bitcoin spot ETFs at the end of December last year, as <a href="https://www.bloomberg.com/news/articles/2024-01-19/hong-kong-firm-targets-spot-bitcoin-btc-etf-launch-in-first-quarter?leadSource&#61;uverify%20wall" rel="noopener noreferrer nofollow">reported</a> by Bloomberg, Hong Kong&#39;s market has yet to witness the introduction of any such products. This gap in the market is perceived as a potential risk for <a href="https://cryptotale.org/hong-kongs-crypto-investors-prioritize-short-term-gains-report/" rel="noopener noreferrer nofollow">local investors</a>, who may find themselves at a competitive disadvantage compared to investors in the West.The report also highlighted the stark contrast between Bitcoin&#39;s strong performance in the U.S., with a cumulative net inflow of $2.24 billion in February and a <a href="https://cryptotale.org/bitcoin-hits-historic-70k-milestone-amid-mixed-market-sentiments/" rel="noopener noreferrer nofollow">price peak of $70,330</a>, and the absence of similar investment opportunities in Asia. This disparity has drawn significant attention, especially considering the success of two Hong Kong Bitcoin futures ETFs, the CSOP Bitcoin ETF and the Samsung Bitcoin ETF, both of which have seen remarkable gains.<a href="https://cryptotale.org/hong-kong-eyes-global-crypto-leadership-with-plans-for-btc-and-eth-spot-etfs/" rel="noopener noreferrer nofollow">Read full article at CryptoTale.</a>

Hong Kong Eyes Global Crypto Leadership with Plans for BTC and ETH Spot ETFs

CryptoTale

Other articles published on Mar 11, 2024

Cathie Wood: Bitcoin Will Hit $1M Sooner than 2030

Bitcoin (BTC) Price Spikes Above $71K; What Next?

SOMESING (SSX) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

Solana (SOL) Price Prediction for March

zkLink Nova Launches Mainnet, The First ZK Stack-based Aggregated Layer 3 Rollup Built on zkSync

How to Buy TomoChain Coin?

Join our free newsletter for daily crypto updates!