Hong Kong crypto ETF products may seean inflow of around $500 million, compared to the billions of dollars in the US market, predicts Bloomberg ETF analyst.
Hong Kong's Securities and Futures Commission (SFC) announced the issuance of conditional approvals to three asset managers to begin issuing spot Bitcoin and Ethereum exchange-traded funds (ETFs). However, Bloomberg ETF analyst Eric Balchunas has played down the excitement surrounding the recent approval of the spot BTC and ETH ETFs in Hong Kong.
Amidst the excitement, Bloomberg's Senior ETF analyst, Eric Balchunas, provides a tempered analysis, hinting that Hong Kong's ETFs may fall short of the thriving US market. Balchunas suggests that despite the approval, these ETFs are yet to launch, with rumors speculating a forthcoming debut to sidestep competition with the Dubai conference.
Eric Balchunas criticized predictions that the ETFs could draw $25 billion in inflows, suggesting a more realistic figure would be around $500 million.
How do Hong Kong's spot Bitcoin ETFs compare to their dominant U.S. counterparts, and could their introduction influence Bitcoin's price upward? On Apr.
China may be about to explode in XRP, Ethereum, and Bitcoin prices with the latest launch of ETF. Forbes reports that crypto investors already anticipate that Hong Kong and the United States will battle for cryptocurrency inflows into their respective funds due to the revelations.
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