Hong Kong’s Bitcoin and Ether ETF Approval to Challenge China’s Crypto Restrictions
The post Hong Kong’s Bitcoin and Ether ETF Approval to Challenge China’s Crypto Restrictions appeared on BitcoinEthereumNews.com. Coinspeaker Hong Kong’s Bitcoin and Ether ETF Approval to Challenge China’s Crypto Restrictions The recent approvals of spot Bitcoin (BTC) and Ethereum (ETH) ETFs in Hong Kong are poised to challenge the Chinese restrictions on trading digital assets in the country. According to a DL News report on Friday, citing an interview with Alessio Quaglini, co-founder and chief executive of Hex Trust, a crypto custodian company, the recent introduction of the crypto ETFs in the Hong Kong market could indirectly expose Chinese investors to the digital asset space. China ETFs Law Not Clear Recall that in 2021, China banned all crypto-related activities, including trading, staking, and mining. However, Quaglini believes that with digital asset ETFs coming to the Hong Kong market, investors in mainland China could be granted the opportunity to explore the new investment products. The Hex Trust co-founder said this could be possible because the law regarding ETFs in mainland China remains unclear. He is optimistic that the region’s interest in alternative assets like gold could suggest a potential appetite for crypto. He further stated that allowing investors in mainland China to invest in the crypto ETFs could bring billions of dollars into the industry if the digital assets stance in China does not apply to ETFs. China Unlikely to Allow Investors to Trade ETFs Despite Quaglini’s optimism that China’s crypto restrictions will not extend to ETFs, Bloomberg senior ETF analyst Eric Balchunas said in a post on X (Twitter) that it is highly unlikely to happen. Agree.. if Chinese investors start buying and the govt doesn’t crack down that could change things but as far as we know the govt ban on bitcoin will incl the ETFs and they DEF won’t be on the southbound connect program. — Eric Balchunas (@EricBalchunas) April 15, 2024 He also warned…
The post Hong Kong’s Bitcoin and Ether ETF Approval to Challenge China’s Crypto Restrictions appeared on BitcoinEthereumNews.com.
Coinspeaker Hong Kong’s Bitcoin and Ether ETF Approval to Challenge China’s Crypto Restrictions The recent approvals of spot Bitcoin (BTC) and Ethereum (ETH) ETFs in Hong Kong are poised to challenge the Chinese restrictions on trading digital assets in the country. According to a DL News report on Friday, citing an interview with Alessio Quaglini, co-founder and chief executive of Hex Trust, a crypto custodian company, the recent introduction of the crypto ETFs in the Hong Kong market could indirectly expose Chinese investors to the digital asset space. China ETFs Law Not Clear Recall that in 2021, China banned all crypto-related activities, including trading, staking, and mining. However, Quaglini believes that with digital asset ETFs coming to the Hong Kong market, investors in mainland China could be granted the opportunity to explore the new investment products. The Hex Trust co-founder said this could be possible because the law regarding ETFs in mainland China remains unclear. He is optimistic that the region’s interest in alternative assets like gold could suggest a potential appetite for crypto. He further stated that allowing investors in mainland China to invest in the crypto ETFs could bring billions of dollars into the industry if the digital assets stance in China does not apply to ETFs. China Unlikely to Allow Investors to Trade ETFs Despite Quaglini’s optimism that China’s crypto restrictions will not extend to ETFs, Bloomberg senior ETF analyst Eric Balchunas said in a post on X (Twitter) that it is highly unlikely to happen. Agree.. if Chinese investors start buying and the govt doesn’t crack down that could change things but as far as we know the govt ban on bitcoin will incl the ETFs and they DEF won’t be on the southbound connect program. — Eric Balchunas (@EricBalchunas) April 15, 2024 He also warned…
