Mega whales with over 10,000 BTC are accumulating ahead of Hong Kong’s approval of the first spot Bitcoin ETFs that could happen next week.
Hong Kong regulators could approve both Bitcoin and Ether ETFs on April 15, according to crypto entrepreneur and investor Lark Davis, who wrote in an April 12 It will take approximately two weeks to finalize ETF listing procedures on the Hong Kong Stock Exchange, after the securities regulator greenlights the initial set of spot Bitcoin ETFs.The approval of the first spot Bitcoin ETFs in Hong Kong could catalyze Bitcoin’s post-halving rally, according to Herbert Sim, chief operating officer of crypto exchange Websea, who told Cointelegraph:
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