Connect

Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/harvest-ceo-aims-to-open-bitcoin-etfs-to-mainland-chinese-investors/" data-wpel-link="internal">Harvest CEO Aims to Open Bitcoin ETFs to Mainland Chinese Investors</a><br></p>
<p class="p1" style="text-align: justify"><strong>Hong Kong</strong> Bitcoin <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investment</a> fund issuer Harvest’s CEO announced plans to open Bitcoin ETF to mainland Chinese <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investors</a>. Harvest CEO and chief investment officer Han Tongli is considering options that would allow Chinese investors to purchase Bitcoin and <a href="https://en.coin-turk.com/ethereum-faces-212-million-liquidation-threat-as-prices-near-critical-level/" data-wpel-link="internal">Ethereum</a> ETF funds. According to a May 9 report by The South China Morning Post, this could be possible by offering their products through Hong Kong’s ETF Connect.</p> 
<h2 class="p1" style="text-align: justify" id="ongoing-etf-process-in-hong-kong">Ongoing ETF Process in Hong Kong</h2> 
<p class="p1" style="text-align: justify"><strong>ETF Connect</strong> was launched in 2022 and approved by the China Securities Regulatory Commission and the Securities and Futures Commission. The tool is designed to promote interaction and integration between Hong Kong and mainland China, offer various asset allocation options, and encourage liquidity.</p> 
<p class="p1" style="text-align: justify">CEO Tongli mentioned that if everything goes well in the next two years, Harvest will not overlook the opportunity to apply for the inclusion of their ETF funds in ETF Connect.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-350054 size-full" src="https://coin-turk.com/wp-content/uploads/2024/05/scmp.jpg" alt="" width="1200" height="800"></p> 
<p class="p1" style="text-align: justify">With China having a large pool of investors, the inclusion of Bitcoin and Ethereum ETF funds in the ETF Connect program could potentially trigger a significant rise in the cryptocurrency markets. However, it is still unknown whether the Chinese government will accept such an opportunity for its citizens, as local authorities have long displayed a highly restrictive approach towards cryptocurrencies like Bitcoin.</p> 
<h2 class="p1" style="text-align: justify" id="notable-details-in-the-etf-sector">Notable Details in the ETF Sector</h2> 
<p class="p1" style="text-align: justify">According to SCMP, Hong Kong’s Bitcoin and Ethereum futures-based ETF funds launched in 2022 were not included in Stock Connect. The process of providing Bitcoin ETFs to mainland Chinese investors in Hong Kong was a hot topic even before the launch of Bitcoin and Ethereum ETF funds in Hong Kong on April 30, 2024.</p> 
<p class="p1" style="text-align: justify">Many industry analysts did not expect much market movement from the launch due to the Hong Kong ETF market being significantly smaller than those of the United States or mainland China. According to Bloomberg data, subsidiaries of mainland Chinese <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">companies</a> based in Hong Kong have 1,400% more assets in the mainland market compared to the local market. Some sources indicate that all Hong Kong ETF funds only make up 0.6% of the US ETF market value.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/harvest-ceo-aims-to-open-bitcoin-etfs-to-mainland-chinese-investors/" data-wpel-link="internal">Harvest CEO Aims to Open Bitcoin ETFs to Mainland Chinese Investors</a></h5>

Harvest CEO Aims to Open Bitcoin ETFs to Mainland Chinese Investors

목차

COINTURK NEWS

2024년 5월 10일에 게재된 다른 기사

Coinbase SEC Lawsuit Isn't Over Yet, But The Exchange Remains Optimistic

5 Crypto Under the Price of a Big Mac That Could Skyrocket

Invesco Galaxy Ethereum ETF Delayed By SEC Until July 5

Ethereum Price Prediction As Joseph Lubin Says SEC Has Stealth-Classified ETH As A Security And T...

Stellar’s Green Credentials: Understanding the Energy Efficiency of Crypto Transactions

Cardano Experience Robust Week: Key Updates from IOG and Metrics

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!