China ‘does not want to miss out’: Community reacts to HK spot Bitcoin ETF news

Cryptocurrency brand name Coin Bureau was likewise quick to respond to the possible area crypto ETF launch in Hong Kong. Both Hong Kong and the U.S. have actually allowed crypto ETFs linked to futures contracts, the jurisdictions are yet to authorize a spot crypto ETF. Integrated with the Samsung Bitcoin Futures Active ETF, Hong Kong has about $65 million in crypto ETF assets, according to Bloomberg.

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The cryptocurrency community is delighted about the Hong Kong federal government apparently weighing the launch of an area cryptocurrency exchange-traded fund (ETF) in the middle of the continuous regulative pushback versus such items in the United States.Hong Kongs possible entrance into spot crypto ETFs could be a significant development in the context of the economic fight between the U.S. and China, BitMEX co-founder Arthur Hayes believes.Hayes required to X (previously Twitter) on Nov. 6 to express excitement over competition between the two economies, emphasizing that this competitors will become great for Bitcoin (BTC).” Competition is fantastic. If the U.S. has its proxy possession supervisor, BlackRock, launching an ETF, China requires its proxy possession manager to release one, too,” he wrote.Competition is incredible. If the US has its proxy property mngr, BlackRock, releasing an ETF, China requires its proxy property mngr to release one too. The United States v China economic war is terrific for $BTC. pic.twitter.com/ok7xipN4M5— Arthur Hayes (@CryptoHayes) November 6, 2023

The cryptocurrency community is excited about the Hong Kong government apparently weighing the launch of a spot cryptocurrency exchange-traded fund (ETF) in the middle of the ongoing regulative pushback against such items in the United States.Hong Kongs possible entrance into area crypto ETFs could be a considerable advancement in the context of the financial confrontation between the U.S. and China, BitMEX co-founder Arthur Hayes believes.Hayes took to X (previously Twitter) on Nov. 6 to express excitement over competitors in between the 2 economies, stressing that this competitors will ultimately be excellent for Bitcoin (BTC). Both Hong Kong and the U.S. have actually permitted crypto ETFs linked to futures agreements, the jurisdictions are yet to authorize a spot crypto ETF. Combined with the Samsung Bitcoin Futures Active ETF, Hong Kong has about $65 million in crypto ETF assets, according to Bloomberg.