Hong Kong's New Spot Bitcoin ETFs Attract Investors from Mainland China

by Brock Lang

Hong Kong's New Spot Bitcoin ETFs Attract Investors from Mainland China

Hong Kong’s Original Space Bitcoin ETFs Attract Investors from Mainland China

Hong Kong

The Bitcoin Asia 2024 conference in Hong Kong attracted a astronomical crowd of enthusiasts and critically investors from mainland China.

In response to a original file by the South China Morning Post, the organizer estimated that out of the 5,500 of us that confirmed their attendance earlier than the match, about half of came from the country’s mainland.

Hong Kong Bitcoin ETFs Attract Mainland Attendees


The conference, organized by Bitcoin Journal, aimed to showcase the evolving panorama of cryptocurrency investments in Asia. It featured discussions centered across the implementation and implications of the original role Bitcoin alternate-traded funds (ETFs) launched in Hong Kong.

The HKEX launched Bitcoin and Ethereum ETFs on April 30, marking the predominant role digital asset ETFs in Asia.

David Bailey, co-founding father of Bitcoin Journal, emphasized the match’s role in bridging Hong Kong’s rising crypto economy with the mainland’s restrictive regulatory ambiance.

“I judge the ETFs had been roughly an admission that Bitcoin is right here to end,” mentioned Bailey. “There’s no methodology that Hong Kong factual by likelihood stumbled into launching an ETF … It wasn’t random.”

Bailey also mentioned that the native authorities has confirmed solid reinforce for the sphere and the firm is already taking into account returning to the SAR. Town has hosted several web3 events this year, along side the WOW Summit and Web3 Festival.

“I judge they stumble upon Bitcoin as a huge opportunity for Hong Kong,” mentioned Bailey.

Regulated Bitcoin Procuring and selling Offers Original Investment Alternate suggestions


Ben Gagnon, Chief Mining Officer of Bitfarms, expressed hope that Hong Kong would possibly maybe maybe presumably support as a “conduit for Chinese investors” to entry Bitcoin-connected applied sciences. He views this as a likely methodology to mitigate the market downturn in China.

“What I’m optimistic about is, with these guidelines and these regulations now in location, Hong Kong in point of fact would possibly maybe maybe win a methodology to be this bridge for China to Bitcoin and to the increased crypto ecosystem in a methodology that’s safer, more controlled or regulated,” mentioned Gagnon.

“I hope that there’s going to be more pathways into mainland China,” Gagnon added.

Source : cryptonews.com

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