Bloomberg senior ETF analyst Eric Balchunas posted on social media that the Hong Kong Spot Bitcoin ETF has been approved to exist, but has not yet launched. There are rumors that it will be launched next week. It is expected that there will not be a lot of traffic in the Hong Kong Spot Bitcoin ETF, and it is estimated that the inflow size may be 500 million US dollars, for the following reasons:
1. The Hong Kong ETF market is very small, only 50 billion US dollars, and mainland users still cannot buy it, at least officially.
2. The three spot bitcoin ETF issuers approved (Bosera, Huaxia, Harvest) are small in scale, and no large institutions like BlackRock have yet participated.
3. Low liquidity/efficiency in the underlying ecosystem = these ETFs may experience large spreads and prem discounts.
4. Transaction fees may be 1-2%, which is higher than a US spot Bitcoin ETF.
Bloomberg analysts: expected Hong Kong spot bitcoin ETF inflows of $500 million
2024-04-15 14:34:30
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