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Hong Kong’s crypto ETFs launch at the end of April.
Find out all about the recent approval of crypto ETFs in Hong Kong. Experts discuss the potential impact on Bitcoin and Ethereum. Trade on Bitpanda now!
Hong Kong’s crypto ETFs launch at the end of April.
The newly approved crypto ETFs in Hong Kong are expected to launch at the end of April, experts expect. These ETFs cover both Bitcoin and Ethereum and are serviced by asset managers such as China Asset Management and Harvest Global. Since 2023, Hong Kong has actively sought to become a reputable cryptocurrency location by creating an attractive regulatory environment for businesses.
The possibility that Chinese investors could invest up to $15 billion to $25 billion annually in Hong Kong through the Southbound Stock Connect program could also be significant for crypto ETFs. However, experts like Eric Balchunas believe that the chances of success for these ETFs are limited. Balchunas estimates that total inflows for these ETFs will only be around $500 million.
The low expectations for the success of Hong Kong crypto ETFs compared to the $12 billion in inflows that U.S. Bitcoin spot ETFs have seen since January is due to several factors, according to Balchunas. These include unpopular asset managers, likely high fees and associated low liquidity. Therefore, compared to the US, crypto ETFs in Hong Kong may not achieve the same level of success.