Newly approved spot crypto ETFs, six total, will begin trading at the end of this month and mainland Chinese investors are excluded.
Hong Kong has officially cleared the way for six crypto-based spot ETFs to begin trading on April 30, according to Bloomberg analysts.
China Asset Management is the largest of the three issuers with more than $55 billion in assets under management in mainland China, $3.6 billion in Hong Kong and total of nearly 100 ETFs across both regions, according to an online presentation shared by Bloomberg analysts during an online discussion regarding Hong Kong's new ETFs.
Rebecca Sin, also an ETF analyst at Bloomberg said during Wednesday's discussion that Hong Kong's regulator decided to offer in-kind created funds, in part, as a way of differentiating from the spot bitcoin ETFs being offered in the U.S. market. "This now caters to a different group of people," said Sin. "Everyone that's holding bitcoin and ether can potentially now swap this into an ETF.
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