Hong Kong-Listed Bitcoin ETFs Could Unlock Up to $25B in Demand, Crypto Firm Says [Yahoo! Finance]
HONG KONG EX&CL UNSP/ADR (HKXCY)
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Source: Yahoo! Finance
One Hong Kong-based observer said mainland Chinese funds have been applying to issue spot ETFs through their Hong Kong subsidiaries. Hong Kong, one of the world's leading financial centers and a gateway for outbound Chinese investments, is set to approve a spot bitcoin exchange-traded fund tied to bitcoin (BTC). The investment vehicle could unlock up to $25 billion in demand from Chinese investors via the Southbound Stock Connect program, according to Singapore-based crypto services provider Matrixport. The Southbound Stock Connect allows qualified mainland Chinese investors to access eligible shares listed in Hong Kong. “A likely approval of Hong Kong-listed Bitcoin Spot ETFs could attract several billion dollars of capital as mainland investors take advantage of the Southbound Connect program, which facilitates up to 500 billion RMB (HK$540 billion and $70 billion] per year in transactions," Matrixport said in a report Friday. “Based on the (potential) available capacity, t
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