Hong Kong Is Set to List Spot-Crypto Exchange-Traded Funds
[CC may contain inaccuracies] I guess the question is how will it will
obviously help Hong Kong, but how will
it help?
Also, given the fact that in the US, for
example, some of the flows into those
Bitcoin spot ETFs arguably have cornered
the bulk of the market already.
Yes, you’re right, David.
So what what has happened is Hong Kong
has one of the advantages that Hong Kong
has in Asia is that this is a first
mover advantage because this is Hong
Kong is the first in Asia to allow the
spot Bitcoin and ether ETFs.
So ether is actually the globally the
first move in Hong Kong.
So these are the this is the very big
advantage for Hong Kong because in Asia
there are several investors, a lot of
investors institutions who want to who
have been seeking to invest in this
spot, Bitcoin, an ETF of funds.
But then they are not getting an access
because it’s all the way they have to go
to the US to do that.
I mean, they have to invest in the US to
do that now that that field is open for
them to do so in Hong Kong in the same
time zone in Asia.
So that’s a big, big advantage.
So when it comes to, you know, issuing
these and allowing this to be traded in
Hong Kong, that’s one of the big
advantages over here.
But to to kind of, you know, also add to
your second part of the question about
how how will this be as big as the US
market?
I think that, you know,
obviously US has the deepest ETF markets
globally and the big names like, you
know, the BlackRock and the Fidelity’s
as we know are leading the Bitcoin spot,
Bitcoin ETFs in the US.
So in the absence of this big this these
big names in Hong Kong, it could be a
little less I mean it could be actually
a fraction of what the US is seeing in
terms of the size, the flows of the
market, but it is nevertheless a big and
important step by Hong Kong, which wants
to be, you know, a digital hub in Asia.
So that’s a very important this is an
important move in that respect.
Hong Kong is set to list a batch of cryptocurrency exchange-traded funds. Some of China’s top asset managers are in the final leg of preparations for the spot-Bitcoin and Ether ETFs to begin trading by the end of April. Suvashree Ghosh reports on Bloomberg Television.
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