Hong Kong's Bitcoin And Ethereum ETFs Poised to Reach $1B In Assets, Bloomberg Analyst Predicts
Portfolio Pulse from Khyathi Dalal
Bloomberg analysts predict the newly-approved Bitcoin and Ethereum ETFs in Hong Kong will reach $1 billion in assets within two years, despite China's ban on the underlying assets. The prediction is an upward revision from the initial $500 million estimate, reflecting expected significant interest. Bosera, Harvest, and ChinaAMC are among the firms launching these ETFs, with ChinaAMC expected to make a significant impact. The approval marks a notable development in the digital asset world, with these ETFs being unique for including Ether and using in-kind redemptions.
April 17, 2024 | 6:15 pm
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POSITIVE IMPACT
The approval and anticipated success of Bitcoin ETFs in Hong Kong could increase Bitcoin's visibility and acceptance among investors, potentially driving up its price.
The launch and expected success of Bitcoin ETFs in a significant market like Hong Kong could lead to increased demand and higher prices for Bitcoin, despite the regulatory challenges in China.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Ethereum's inclusion in the newly-approved ETFs in Hong Kong highlights its growing acceptance and could positively impact its price by attracting more investors.
The inclusion of Ethereum in these ETFs not only marks its growing acceptance but also could lead to increased investor interest and higher prices, especially given the innovative approach of using in-kind redemptions.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80