• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Analysis of Potential Chinese Impact on Bitcoin Spot ETFs by Bloomberg Analyst

user avatar

by Giorgi Kostiuk

2 years ago


The Securities and Futures Commission in Hong Kong is planning to allow spot Bitcoin ETFs to have in-kind creation and redemptions during the second quarter of this year. This move comes as Harvest Global and Venture Smart Financial Holdings expressed interest in launching spot Bitcoin ETFs in the region. Although approvals are pending, Bloomberg Intelligence ETF analyst Rebecca Sin believes it is only a matter of time before these products are given the green light. Sin highlights that the SFC's approach of in-kind redemptions contrasts with the US, where cash-only refunds are prevalent for spot-based products. Bloomberg's Eric Balchunas predicts that this shift towards in-kind creation and buybacks in Hong Kong could attract more volume and assets under management in the area. In-kind redemptions are favored by both investors and issuers for its cost, tax, and liquidity benefits compared to cash redemptions, which result in higher taxes and trading expenses. This adjustment in redemption methods could potentially influence the growth of Bitcoin ETFs in the region.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Emerging Patterns in Meme Coins Highlight Market Coordination

chest

Analyst LSTrader outlines a broader strategy for Dogecoin, noting similar technical setups emerging across multiple meme coin projects.

user avatarTando Nkube

US Treasury Freezes $344 Million in Iranian Cryptocurrency

chest

The US Treasury Department has frozen over $344 million in cryptocurrency linked to Iranian military and political groups as part of efforts to cut off financial resources amid rising tensions.

user avatarNguyen Van Long

Ethereum Foundation Completes 10,000 ETH Sale to BitMine

chest

The Ethereum Foundation has completed a sale of 10,000 ETH to BitMine in an over-the-counter deal.

user avatarKofi Adjeman

AI Chatbots Linked to Reinforcement of Harmful Beliefs

chest

Researchers from Stanford University have raised concerns that prolonged interactions with AI chatbots can lead to the reinforcement of harmful beliefs and delusions.

user avatarJesper Sørensen

AI Models Show Varied Responses to Mental Health Prompts in New Study

chest

A recent study tested five leading AI models on their responses to mental health prompts, revealing varied levels of safety and risk behavior.

user avatarSatoshi Nakamura

Justin Sun's Absence Raises Questions at Trump's Luncheon

chest

Tron founder Justin Sun has not confirmed his attendance at the upcoming luncheon with former President Donald Trump at Mar-a-Lago, raising questions about his relationship with Trump amid his ongoing lawsuit.

user avatarLucas Weissmann

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.