{"id":5390,"date":"2024-04-19T02:00:47","date_gmt":"2024-04-19T02:00:47","guid":{"rendered":"https:\/\/nftmetta.com\/?p=5390"},"modified":"2024-04-19T02:00:49","modified_gmt":"2024-04-19T02:00:49","slug":"hong-kong-bitcoin-etfs-likely-not-available-for-mainland-chinese-investors-bloomberg","status":"publish","type":"post","link":"https:\/\/nftmetta.com\/hong-kong-bitcoin-etfs-likely-not-available-for-mainland-chinese-investors-bloomberg\/","title":{"rendered":"Hong Kong Bitcoin ETFs Likely Not Available for Mainland Chinese Investors: Bloomberg"},"content":{"rendered":"\n

April 19, 2024<\/p>\n\n\n\n

By Sharan Kaur Phillora<\/p>\n\n\n\n

The prospect of mainland Chinese investors participating in the newly approved Hong Kong-listed spot bitcoin ETFs has been dimmed, according to analysts at Bloomberg Intelligence. Despite the initial enthusiasm surrounding these funds, restrictions remain tight following China\u2019s 2021 ban on cryptocurrency trading and mining.<\/p>\n\n\n\n

Here\u2019s what we know:<\/strong><\/strong><\/p>\n\n\n\n

On Monday, Hong Kong regulators greenlit the ETFs<\/u><\/a>, signaling a potential new influx of investments into Bitcoin. The ETFs are being launched by notable issuers such as ChinaAMC, Harvest Global, and Bosera International. However, this approval was disclosed by the issuers rather than the Securities and Futures Commission (SFC) of Hong Kong, which has not commented on the matter.<\/p>\n\n\n\n

The approval had been viewed as a possible major boost for bitcoin prices, with Matrixport suggesting last week that these funds could attract as much as $25 billion from Chinese investors. However, a report by Wu Blockchain<\/u><\/a> earlier this week clarified that \u201csouthbound funds,\u201d or investments from mainland China, are barred from participating in these ETFs.<\/p>\n\n\n\n

The exclusion of mainland Chinese investors may curb the impact of the Hong Kong ETFs in a global context. While the U.S. spot bitcoin ETFs have drawn significant attention and capital, the smaller scale of Hong Kong\u2019s ETF market limits its overall influence. According to Bitwise\u2019s Chief Investment Officer Matt Hougan<\/u><\/a>, although the ETFs are a positive development, they are not transformative for the market.<\/p>\n\n\n\n

Eric Balchunas<\/u><\/a> of Bloomberg ETFs also noted the disparity in market scale between the U.S. and Hong Kong, predicting that combined inflows are unlikely to exceed $1 billion\u2014a stark contrast to earlier, more optimistic forecasts. He suggested that the primary beneficiaries of the Hong Kong ETFs might be institutional investors seeking extended trading hours across different markets.<\/p>\n\n\n\n

Despite these institutional advantages, the overall uptake by fund managers has been modest, as indicated by SEC filings. This highlights the limited immediate impact of Hong Kong\u2019s new bitcoin ETF offerings on the broader cryptocurrency landscape.<\/p>\n\n\n\n

About the author<\/strong><\/strong><\/p>\n\n\n\n

Sharan Kaur Phillora\u2019s thirst for knowledge has led her to study many different subjects, including NFTs and Blockchain technology \u2013 two emerging technologies that will change how we interact with each other in the future. When she isn\u2019t exploring a new idea or concept, she enjoys reading literary masterpieces.<\/p>\n","protected":false},"excerpt":{"rendered":"

April 19, 2024 By Sharan Kaur Phillora The prospect of mainland Chinese investors participating in the newly approved Hong Kong-listed spot bitcoin ETFs has been dimmed, according to analysts at […]<\/p>\n","protected":false},"author":1,"featured_media":5393,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/posts\/5390"}],"collection":[{"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/comments?post=5390"}],"version-history":[{"count":1,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/posts\/5390\/revisions"}],"predecessor-version":[{"id":5394,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/posts\/5390\/revisions\/5394"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/media\/5393"}],"wp:attachment":[{"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/media?parent=5390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/categories?post=5390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/tags?post=5390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}