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
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.You are saying people are buying the news, but TBH I did not think people really did, although the stats also show the same you should read my last post it was also on the same topic where the OP shared some stats that shows all the hype was just a bubble although I shared my POV that I did not raised any hopes that's why I was no disappointed from the downtrend caused by this event.
As this news did not brought too much volume. I don't think that the approval of ETF from HK will play a big role in acheinving ATH for BTC. Speaking of war it really plays an important role as it can cause big dump if war happens. Besides it BTC is not fully prepared for the flight yet, I think we need more volume and more adoption, considering this factor we can count the HK ETFs but still not play a big role, we need something big, maybe something from Elon twitter handle (IYKYK).HongKong market is smaller than many other markets in the USA, UK, Europe and it makes sense if Bitcoin Spot ETFs in HongKong won't make big impacts on Bitcoin price. Because demands and capital inflow from HongKong Bitcoin Spot ETFs would be small and not big enough to impact on price.
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
But, hasn't the Ethereum spot ETF also been approved by the US SEC? I read the news and that's why a few days ago, the market went up quite well. It's just that, as happened after the BTC ETF was approved, the price only rose for a few moments and then returned to normal, dropping to the average price for this month.........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
And it could have been that the Hong Kong market is doing good already since it has approved. Let's give it some time to have those numbers up, yeah it's just a small nation so influence in the market is not that big.
“The US is the largest market for ETFs in the world, and where the US moves, others usually follow. The launch of Ethereum ETFs still needs to go through a second stage of approval, but if given the green light, would represent a major vote of confidence in the role that digital assets will play in our financial system and open the floodgates to more of these products.”
HongKong market is smaller than many other markets in the USA, UK, Europe and it makes sense if Bitcoin Spot ETFs in HongKong won't make big impacts on Bitcoin price. Because demands and capital inflow from HongKong Bitcoin Spot ETFs would be small and not big enough to impact on price.You are right, the data is showing a consistent rise in the money inflow into BTC ETFs in USA, that's because these big ETF companies that applied for ETFs have money prepared for BTC, but they are doing it in OTC or under the table, to decrease the impact on market, and that's taking time, so with time the money data is increasing, every day or every month there is huge increment because the money they were having for BTC, is now being thrown into the market with different time according to the market situation and according to these companies strategies.
See the chart that shows not too impressive capital flow from HongKong Bitcoin Spot ETFs since start of May 2024.(https://pbs.twimg.com/media/GOlQQGyWAAAJXJM?format=jpg&name=900x900) (https://x.com/BitcoinNewsCom/status/1795054239833567669)
On the other hand, Bitcoin Spot ETFs in the USA shows some signals of an upward trend after some weeks of negative flows.(https://pbs.twimg.com/media/GOd0S3sakAABVF2?format=jpg&name=900x900) (https://x.com/thomas_fahrer/status/1794530846353027116)