Hong Kong: Bitcoin and Ethereum ETFs on the way?

After the U.S., Bitcoin Spot ETFs could soon be tradable in Hong Kong. This is likely to bring new capital to the BTC markets.

Update, April 12: According to Bloomberg up to four Bitcoin spot ETFs and more Ethereum spot ETFs are likely to be approved in Hong Kong on Monday.

This could happen before the end of the month: Bitcoin ETFs could then also be tradable in Hong Kong.

Consequently, authorization could be given as early as mid-April, as quoted by Reuters.

Hong Kong is said to be the first Chinese special administrative region where BTC ETFs can be traded. The city is considered a financial center with a strong capital base.

"The significance of Bitcoin ETFs in Hong Kong would be immense. Indeed, the approval could generate new investments and take the acceptance of cryptocurrencies to a new level," Adrian Wang, CEO of Metalpha, a Hong Kong-based cryptocurrency manager, told Reuters.

Since the beginning of the year, investors in the U.S. have been able to invest in Bitcoin Spot ETFs. The influx: record-breaking.