Hong Kong aims to enable in-kind creations and redemptions for spot Bitcoin ETFs in the second quarter.
Hong Kong’s financial regulators aim to offer in-kind creation models for spot Bitcoin exchange-traded funds .
This could be a significant market opportunity, which could considerably increase assets under management and trading volume for Bitcoin ETF issuers in the region, according to a research note by Bloomberg ETF analyst Rebecca Sin,“Hong Kong is aiming for in-kind creation of the ETF, unlike the US, where the transaction is cash only — in the US, it’s cash in, Bitcoin ETF out, while Hong Kong aims for Bitcoin in, ETF out. This could be an opportunity for the market.
Last week’s negative spot Bitcoin ETF inflows aren’t a long-term concern for Bitcoin holders and price actio, Bitfinex analysts told Cointelegraph: “Even though negative ETF outflows featured heavily last week, all of it is from the Grayscale Bitcoin Trust , as investors both switch out of the higher fees demanded by GBTC and also take profit, especially as many of these investors are long-term holders who entered during the bear market. GBTC investors are not the only sellers in the market. Whale wallet activities have also indicated significant profit taking.
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