Ethereum

Hong Kong Bitcoin and Ethereum ETFs to start trading on April 30

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9 months ago

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Financial regulators in Hong Kong have officially announced that their Bitcoin and Ethereum ETFs have been approved to begin trading on April 30. Indeed, this date will see the launch of six digital asset investment products, according to Bloomberg analysts.

The mainland Chinese city saw its Securities and Futures Commission (SFC) approve crypto-based ETFs earlier this month. Subsequently, products are expected to move from approval to negotiation in just 15 days. Their arrival is poised to bring greater convenience and security to Hong Kong cryptocurrency investors.

Read also: Hong Kong Spot Bitcoin ETFs Set to Launch in April

Hong Kong Bitcoin and Ethereum ETFs to start trading on April 30

In 2024, the United States made a historic decision with the approval of 11 Spot Bitcoin ETFs. The United States Securities and Exchange Commission (SEC) gave the green light to investment products that were poised to have a massive impact on the market. Subsequently, Hong Kong followed suit, approving Bitcoin and Ethereum ETFs in mid-April.

Now these investment products are expected to start trading. Indeed, Hong Kong financial regulators have officially approved the start of trading of Spot Bitcoin and Ethereum ETFs on April 30. Specifically, Bloomberg analysts revealed that the in-kind creation ETF model for BTC and ETH is set to debut in just six days.

Source: Cryptocurrency News

Read also: Bitcoin: Blackrock’s Spot BTC ETF approaches the top 10

This arrival coincides with the United States’ ongoing struggle to get a Spot Ethereum ETF approved. Standard Chartered Bank recently reversed its previous predictions regarding the arrival of the ETF. Subsequently, the market is not expected to see the ETH supply arriving in May.

Conversely, Hong Kong is likely to see continued massive competition in the ETF space. With approvals looming, there will likely be a continued race to get the lowest fees for products.

Altogether, this is expected to have a considerable impact on Bitcoin. Over the past seven days, BTC has increased by over 6% according to CoinMarketCap. The presence of these investment offerings in Hong Kong should only positively affect these figures.



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