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

[Peter90]

[Ambatman]

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.

[Sim_card]

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?

[bitmover]

I don't think it is a big deal to see btc/eth ETF approved in Hong Kong.

United States stock market is much bigger (nearly 50% of the world total market).
An eth etf approved there could be really bullish for eth!

[Peter90]

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

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?

I think China's official attitude towards BTC is the approval,
so now it's about the attitude of China's investors.
Based on how they are trying to invest in assets independent from their economy, I expect substantial inflows into these ETF.

The major impact could be in ETH

[Peter90]

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?

[rdluffy]

The timing isn't the best with this pre-conflict/war scenario
The price hasn't even been reflected like the US ETFs
However, it's very good news since, as the days go by, millions or perhaps billions of dollars will enter the market, and in the medium and long term it's very good news, some Chinese companies will buy this ETF without worries about China policy

[Fivestar4everMVP]

I saw this news earlier today, and needless say that it's indeed a great news, shows that Bitcoin, as well as the entire crypto currency ecosystem is gradually getting the attention it deserved, and mainstream adoption is very much looking like a possibility in the shortest period of time.

I am not surprised that Bitcoin and the entire cryptocurrency market is dropping heavily several hours after this news, I believe this is exactly the same thing that happened when bitcoin spot ETF was approved by the US securities and exchange commission before aftar several weeks, the market began to pump really hard, and we saw bitcoin record a new all time even while we are still looking forward to the halving, going by that, I would say that the current drop in the market is a very good buying opportunity, it's time to bag as much bitcoins as possible, and as well as Altcoins with good potentials.

[MrSpasybo]

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?

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.

This would be a major step forward for the future of the crypto market if BTC & ETH Spot ETFs in Hongkong could reach traditional investors in mainland China. After all, I still see Hong Kong as just a place for China to experiment before applying crypto widely.

[electronicash]

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?

maybe there isn't a reason to block it after all US was also approved. its the ETH ETF that is quite easy for them.  ETH is been approved quickly. there were rumors ETH ETF will be approved in US this month also so we'll see.

since its approved i guess there aare also lots of demands for BTC and ETH ETFs in Hongkong. i only see one investment management company filing though.

[pawel7777]

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.

[Alston Liu]

I think it shows the attitude behind China. Nobody wants to be left out in this industry. Considering the potential of the market in China after the removal of crypto-mining business, I think it's a good signal that there will be a huge potential amount of capital and more players come in, which is good for this industry in general I think.

[Peter90]

i only see one investment management company filing though.

Look above, the 1st post:
HashKey Capital
Bosera Asset Management
China Asset Management
Harvest Global Investment



Did you know the difference between In-kind ETFs and Cash-create ETFs?
HK ETFs will be In-kind
USA ETFs are Cash-create

"The Hong Kong regulator reportedly approved that the spot Bitcoin and Ether ETFs will be launched as in-kind ETFs, meaning new ETF shares can be issued using BTC and ETH.
The in-kind creation model is opposed to the cash-create redemption model, which allows issuers to create new ETF shares only with cash.
Spot Bitcoin ETFs currently use the cash-create model in the United States as local securities regulators opted for this redemption method.

“The in-kind subscription model for the spot BTC and ETH ETFs in Hong Kong represents a substantial innovation,” OSL board chairman and CEO Patrick Pan told Cointelegraph.
“This mechanism enhances market liquidity by allowing the direct exchange of the asset for ETF shares, reducing reliance on cash settlements and facilitating uninterrupted trading flows,” he added, stating:
“This principle is essential for ensuring market stability and is consistent with practices in both digital and traditional asset ETFs.”

zerohedge.com

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

2 weeks
"According to reports, HKEX will need roughly two weeks to finalize listing procedures and other arrangements after the SFC’s approval."

[Freemind]

It is curious that just when this news appears the market stops falling (at least momentarily, we will see what happens) and stabilizes at the point we are at right now. I have never believed in coincidences and I think this could be a turning point in Ethereum, although the effect will not be immediate. Does anyone think it's another "coincidence" that this happens when we are so close to the Bitcoin halving?, I doubt it... Reading news like this I have the feeling that this is another "race" between China and the United States to not miss the economic and technological train of this industry. Where before there were absolute prohibitions and denials about cryptocurrencies, now the opposite is happening.

I would like to be able to guess who will be the next to take a step in the same direction, because surely there are more players who do the same so as not to be the last in the cryptocurrency “race".

[armanda90]

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.

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.
Lest see will one week later get effect with bitcoin and ethereum ETF approval by The Hongkong commission to make price pump or taking more than one month such as first time when bitcoin get ETF approving by SEC Commission.