BTC and ETH ETFs approved by the Hong Kong Securities and Futures Commission

[Peter90]

some Chinese companies will buy this ETF without worries about China policy

This is what I thought,
but now I'm not sure anymore.

As I understand it now, Chinese cannot simply trade on the HK Exchange, so it's not sure whether Chinese will be able to trade these ETFs.
Could it be seen as capital flight?

[0t3p0t]

The effect is already showing on the price Now. (...)

I don't think it is though, at least not the effect of the organic demand for the newly approved ETFs.
I don't suspect they are already tradeable, it'll probably take at least a day or two. And if it's going to be anything like the US ETFs, will have to wait 1-2 weeks for the demand to pick up and be reflected in the price.

I think the true effect might be felt during the next bullrun as we can see red on market right now. More and more investors will push the price of these coins in the coming bull season we should expect that. Though Hongkong is not that huge but that is a positive thing on our side as cryptocurrency enthusiasts.

[IvugeoEvolutionCoin]

I think the true effect might be felt during the next bullrun as we can see red on market right now. More and more investors will push the price of these coins in the coming bull season we should expect that. Though Hongkong is not that huge but that is a positive thing on our side as cryptocurrency enthusiasts.

So far, Hong Kong still cannot have an important influence on the movement of cryptocurrencies in China and throughout the world. The condition of the fiat market, which is currently experiencing inflation, is also an important influence on the increase in coin prices in the market. Hopefully when the halving approaches there will be good news that can trigger whales to enter and make the coin price in the market go into a bull run.

[Peter90]

I don't suspect they are already tradeable, it'll probably take at least a day or two.

30 April!
 


The first wave of spot Bitcoin and Ether exchange-traded funds (ETFs) have been officially approved to start trading in Hong Kong on April 30.

Unlike the cash-creation model of the United States spot Bitcoin ETFs, Hong Kong aims to offer in-kind creation models for ETFs that enable the creation of new ETF shares by using BTC and ETH.

Hong Kong’s in-kind ETF creation model could be a significant opportunity to considerably increase assets under management (AUM) and trading volume for these products, according to a research note by Bloomberg ETF analyst Rebecca Sin, shared in a March 26 X post by Eric Balchunas:

“Hong Kong is aiming for in-kind creation of the ETF, unlike the US, where the transaction is cash only — in the US, it’s cash in, Bitcoin ETF out, while Hong Kong aims for Bitcoin in, ETF out. This could be an opportunity for the market.”

zerohedge.com

[MUGNIA]

Do I understand it right, that these investment companies sought the ETFs approval in April and they received it in the same month?

In the USA the approval process lasted years, with lawsuits etc...
whereas in China a couple of weeks?

each country has its own regulations,
as we know in the US BTC to get approval takes years, they may be very careful in taking the risk of what will happen later, at least they study and hope they have minimized the risk if BTC is approved

[Mr. Magkaisa]

Do I understand it right, that these investment companies sought the ETFs approval in April and they received it in the same month?

In the USA the approval process lasted years, with lawsuits etc...
whereas in China a couple of weeks?

each country has its own regulations,
as we know in the US BTC to get approval takes years, they may be very careful in taking the risk of what will happen later, at least they study and hope they have minimized the risk if BTC is approved

        -   In these circumstances, many institutional companies have supported the Bitcoin spot, which is why it has been approved.
Now, the ETH spot ETF followed, and many are now hoping that this ETH will be the next to be approved. As others have said, each country actually has its own rules and capability to actually approve that.

And maybe that depends on the choice they will make, but recently, in the past few days, Grayscale has withdrawn its support for the ETH spot etf, which has caused a decrease in the chances of the spot etf of ETH being approved in the upcoming month of May 2024.