On Tuesday, the eagerly-anticipated Hong Kong Bitcoin ETF is set to begin trading. This marks a major milestone for this market. increasing adoption The US ETF Market is a great way to build on the success and popularity of Bitcoin.
The newly-regulated index funds will make a notable debut with their approval. They are expected to surpass the initial inflows of the United States.
HK Bitcoin ETF to Make Record-breaking Debut
Zhu Haokang – Digital Asset Management and Family Wealth Manager at Warsaw Fund expressed The trading volume for Hong Kong Bitcoin ETFs was very high on the first day.
Volume exceeded The scale reached during the US launch of January 10th, this year. This amounted over 125 millions US dollars.
Haokang also stated that Huaxia is one of three ETFs and they are confident of becoming the biggest ETF on the day of trading. OSL has also completed its digital asset platform. initial fundraising Huaxia, one of the two funds included in this fund.
In addition, capital flows during Hong Kong ETF spot’s initial listing in the US market have exceeded those of US ETF spot.
Haokang explains that there are two reasons for this: The purchase and redemption in kind and spot transactions is not available in US Bitcoin ETF spot.
Investment Opportunities Like Never Before
The Hong Kong Spot ETF of China Summer Fund is unique in that it offers Hong Kong Dollars, US Dollars, and dual counter options (RMB Counters), which makes it different from the two other offerings.
The fund also offers a nonlisted share in addition to the listed one, which further sets it apart. Due to the method of physical acquisition, investors can include Bitcoin minersBitcoins can be used to purchase Hong Kong Virtual Asset Spot ETF.
The outreach effort to reach out and attract investors in countries or regions that do not offer ETFs such as Singapore, the Middle East and Africa has generated significant interest.
Haokang predicts that, despite the large market for US Bitcoin ETFs currently, Hong Kong’s use of cash or in-kind subscriptions and the attraction of trading openly during Asian hours will draw many American investors.
Restricted to Chinese Mainland Investors
Wayne Huang from OSL ETF & Trusteeship Business Manager said that Victory Securities can facilitate the physical purchase of winning securities and OSL will also support them.
There are currently three physical vouchers available, and more will be added in the future. After the ETF’s listingIn May, it is likely that a variety of voucher chambers will participate in the market, thereby increasing its overall ecosystem.
Zhu Haokang has clarified on the contrary that mainland Chinese citizens are not allowed to invest in Hong Kong’s ETF spot market. Hong Kong spot ETF racing is open to qualified Hong Kong investors. This includes institutional investors as well as retail and qualified foreign investors.
For more information, individuals are encouraged to contact voucher providers or sales channels. They should also closely monitor any regulatory changes and future developments.
BTC has been trading around $63,000 since recent days, but it failed to break through the $66,000 key level. But the ETF launch in Hong Kong will have an impact. The price of BTC over the long term.
Chart from TradingView.com, image from Shutterstock
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