News - Bitcoin ETFs from Hong Kong may be released for China

By Mike Hesp

Bitcoin ETFs from Hong Kong may be released for China

Bitcoin (BTC)
Crypto acceptance

The rumor mill is turning in the Far East. A crypto expert says investors from China will soon have access to Bitcoin ETFs from Hong Kong.

Richard Byworth, Managing Partner at Swiss financial group SyzCapital, has sparked new rumors. According to these rumors, the new Bitcoin ETF's from Hong Kong may soon become accessible to investors from mainland China.

"I just got back from Hong Kong. There is talk that the ETF could be incorporated into Stock Connect. The implications would be absolutely enormous," Byworth wrote in a Twitter message.

The Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect give investors from mainland China access to financial products from the Hong Kong Special Administrative Region.

Following the US market, Hong Kong's financial center recently also Bitcoin ETFs approved. The first details of Farside suggest, however, that net ETF inflows are only a fraction of U.S. products.

Bloomberg ETF expert Eric Balchunas also admitted that the index fund market in Hong Kong is relatively small compared to the U.S. Besides seed capital, only $22.5 million has flowed into all crypto index funds so far.

He added added, however: "At $310 million, ETFs in Hong Kong are as big as $50 billion in the U.S. market. So for their local market, the index funds are already as big as the U.S. for their market."

Recently, the demand for gold of Chinese investors exploded. Against the backdrop of a collapsing real estate sector, they are looking for alternative storehouses of value. Whether they will actually have access to Bitcoin ETFs remains to be seen.

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