On April 15, Hong Kong took a significant step towards becoming a crypto hub after approving the first spot Bitcoin and Ethereum exchange-traded funds (ETFs). However, an ETF analyst, Eric Balchunas, is pouring cold water on the excitement palpable across the crypto scene.
Spot Bitcoin ETF Is Live In Hong Kong
Taking to X, Balchunas is warning investors to be especially cautious about expecting a major influx of capital, especially into the spot Bitcoin ETF, as was first witnessed in the United States early this year.
In the analyst’s preview, spot ETFs in Hong Kong, while welcomed, might not be a game-changer some anticipate. Among the leading reasons these products will not significantly impact the market is the relatively small size of the Hong Kong ETF market, estimated to be around $50 billion. Though Chinese mainland investors have more capital, they are officially restricted from participating.
Additionally, Balchunas has identified possible liquidity concer
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