The effect is already showing on the price Now. Volatility currently is wow. People already buying the news, with that fall of Saturday I think we should be seeing a new ATH anytime soon. But with all this the threat of Israel retaliation is around the corner though not happening anytime soon but the possibility is nerve wracking.Some countries approved bitcoin ETF before US did, and their was no impact on the price of bitcoin. I guess it will be the same with Hong Kong ETF approval. However, since China is a big country, there might be a little push up in price. It is now I see that China are fools and cannot see the future of things on their own. They will always be puppet to US, because it is the US that is an eye opener to them. The reason why I said this is because, US approved bitcoin ETF, and they have also accepted and approve Bitcoin ETF on China too. I could remember how many times China banned the use of cryptocurrency in their country. Or is it inflation and economy decline that have made them to see bitcoin as what can safe their economy?
Spot ETFs for BTC and ETH are approved in Hong Kong -> BTC, ETH Rise as Hong Kong Bitcoin ETF Applicants Say They've Been Approved (https://www.coindesk.com/policy/2024/04/15/btc-eth-rise-as-hong-kong-bitcoin-etf-applicants-say-theyve-been-approved/)
It seems that for the answer to the question of how this decision will affect the price of BTC, we will have to wait at least a few more weeks until trading begins. Considering China's official attitude towards BTC, I wonder if we can expect something similar to what happened in the US when it comes to spot ETFs?
Do I understand it right, that these investment companies sought the ETFs approval in April (https://www.altcoinstalks.com/index.php?topic=320307.0) and they received it in the same month?The delay in reviewing BTC Spot ETFs is due to the SEC's repeated postponements and the SEC only approvaled when they lost the case to Grayscale. In contrast, Hong Kong is more open to crypto, and the success of BTC Spot ETFs has made things easier, meaning they approve BTC & ETH Spot ETFs proposals faster without taking too long to review.
In the USA the approval process lasted years, with lawsuits etc...
whereas in China a couple of weeks?
Do I understand it right, that these investment companies sought the ETFs approval in April (https://www.altcoinstalks.com/index.php?topic=320307.0) 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?
The effect is already showing on the price Now. (...)
i only see one investment management company filing though.
I don't suspect they are already tradeable, it'll probably take at least a day or two.
I don't think it is though, at least not the effect of the organic demand for the newly approved ETFs.Taking around two until three weeks later to see effect of bitcoin and ethereum after ETF approved by The Hongkong Securities and Features commission. Actually is against with China have suspect with bitcoin as tradable or commodity assets but Hongkong make one good progress by approving Ethereum and Bitcoin.
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.
some Chinese companies will buy this ETF without worries about China policy
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.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.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.
I don't suspect they are already tradeable, it'll probably take at least a day or two.
Do I understand it right, that these investment companies sought the ETFs approval in April (https://www.altcoinstalks.com/index.php?topic=320307.0) 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?
Do I understand it right, that these investment companies sought the ETFs approval in April (https://www.altcoinstalks.com/index.php?topic=320307.0) 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
each country has its own regulations,Indeed. We can't expect all country to have the same policy, the regulation sometimes can be different in each country.
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