Mainland Chinese investors could pour $25 billion in potential Hong Kong-listed spot bitcoin exchange-traded funds through the Southbound Stock Connect program, according to Matrixport.
Hong Kong, one of the world’s leading financial centers and a gateway for outbound Chinese investments, is set to approve a spot bitcoin exchange-traded fund tied to bitcoin . The estimate is based on a blue sky assumption that the average amount of the unused annual Southbound connect quota over the past three years would be channeled into the spot ETFs.
"Hence there is potentially HK$100 billion to HK$200 billion in quota left for bitcoin ETF investment flows – if the approval occurs without any restrictions. HK$200 is the equivalent of $25 billion," Matrixport explained.As of this writing, it's unclear whether the impending spot ETFs will be open for mainland Chinese investors. That said, mainland China seems interested in diversifying into alternative assets, as evidenced by the recent surge in gold prices in Shanghai.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hong Kong Primed for Bitcoin ETFs, Expert Calls It Game-ChangerHong Kong about to allow Bitcoin ETFs, top Bloomberg expert reveals when and how
Source: Utoday_en - 🏆 295. / 63 Read more »
Hong Kong Likely To Allow In-Kind Creations for Spot Bitcoin ETFs: BloombergHelene is a New York-based reporter covering Wall Street, the rise of the spot bitcoin ETFs and crypto exchanges. She is also the co-host of CoinDesk's Markets Daily show. Helene is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.
Source: CoinDesk - 🏆 291. / 63 Read more »
Hong Kong could approve spot Bitcoin ETF very soonHong Kong’s Securities and Futures Commission (SFC), an independent statutory body charged with regulating the securities and futures markets, is likely to approve Spot Bitcoin Exchange-Traded Funds (ETFs), according to a Reuters report from April 10.
Source: FXStreetNews - 🏆 14. / 72 Read more »
Hong Kong Could See Spot Bitcoin ETFs Soon; Friend.Tech Money Metrics Surge'CoinDesk Daily' host Jennifer Sanasie breaks down the biggest headlines impacting the crypto industry today, as Hong Kong regulators are expediting the process to approve the spot bitcoin ETF applications, according to a report from Reuters. Plus, Friend.Tech sees money flowing back to the social application ahead of its potential airdrop.
Source: CoinDesk - 🏆 291. / 63 Read more »
Hong Kong Likely to Approve Spot Bitcoin ETFs Next Week: ReutersAmitoj Singh is a CoinDesk reporter.
Source: CoinDesk - 🏆 291. / 63 Read more »
Here’s When Hong Kong Will Announce its Bitcoin ETFs: ReportCrypto Blog
Source: Crypto_Potato - 🏆 568. / 51 Read more »