Nevertheless, institutions in Hong Kong are currently strategizing to submit applications for both BTC and ETH ETFs. This move has the potential to attract additional capital inflow for these assets. According to the reports, there is a prevailing sentiment among institutions and traders that they are lagging, especially with the United States having already approved 11 spot BTC ETFs.
However, there are indications that this push for spot Bitcoin ETF approvals in Hong Kong may expedite the approval process for spot Ten institutions have submitted applications for spot BTC ETFs. If these applications receive approval, they could contribute to the ongoing institutional fund inflow that Bitcoin is currently experiencing. Furthermore, the early approval of spot ETH applications not only brings more funds into the Ethereum market but may also influence discussions on the approval of ETH ETFs in the United States. The largest outflow occurred on the 1st of March, totaling over $311 million, while the highest inflow was recorded on the 5th of March, reaching over $965 millio