Hong Kong financial Officially, regulators announced on Monday that their Bitcoin and Ethereum exchange-traded funds (ETFs) will be approved for trading to start April 30th. Bloomberg analysts estimate that the day will mark the debut of six new digital assets investment products.
SFC has opened a branch in the city of mainland China approve the crypto-based ETFs earlier this month. Consequently, these products will go from being approved to going on sale in only 15 days. Hong Kong cryptocurrency investors will benefit from increased security and convenience with their arrival.
Please Read This: Hong Kong Spot Bitcoin ETFs Expected to Launch in April
Hong Kong Bitcoin and Ethereum Exchange Traded Funds To Start Trading on April 30, 2019
The United States took a historic decision in 2024 when it approved 11 Bitcoin Spot ETFs. US Securities and Exchange Commission approved investment products poised to impact the market in a major way. Hong Kong then followed suit in mid-April, and approved Bitcoin ETFs.
These investment products will soon be traded. Hong Kong has become a major financial center. financial Spot Bitcoin and Ethereum exchange-traded funds (ETFs) will be available for trading from April 30th. Bloomberg analysts have revealed that the ETF for BTC/ETH in-kind model is expected to launch in six days.
![](https://fxruhanahmed.com/2/wp-content/uploads/2024/04/Hong-Kong-Spot-Bitcoin-ETFs-Expected-to-Launch-in-April.jpeg)
Please Read This: Bitcoin: Blackrock’s Spot BTC ETF Inches Closer To Top 10 List
This arrival is in line with a continued battle by the United States to get a Spot Ethereum ETF ratified. Standard Chartered Bank recently reversed their previous prediction for the ETF. The market does not expect the ETH to arrive on the May calendar.
Hong Kong will continue to experience intense competition in the ETF market. There will be a continuing race to the bottom for these products with the impending product approvals.
All in all, this should have a major impact on Bitcoin. BTC is up more than 6 percent in the last 7 days according to CoinMarketCap. This should have a positive impact on these figures.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: watcher.guru