Bitcoin ETFs: Which Region Is Next To See Approvals And Poise As A Hub? Australia? Hong Kong?

Bitcoin ETFs: Which Region Is Next To See Approvals And Poise As A Hub? Australia? Hong Kong?

Bitcoin ETFs are live, changing the investing game everywhere. With the US joining the ranks of other approved countries, the big question is which region is next to see approvals and poise as a hub for Bitcoin ETFs. I will share my views who are the most likely candidates for the next wave of Bitcoin ETF launches, based on their market size, regulatory environment, investor demand, and innovation potential. I will also discuss the analyst sentiment on bringing more liquidity into Bitcoin products through ETF launches, and when the public can expect approval in specific regions.

Why Australia’s main stock market (ASX) makes sense for the next BTC ETF launch

Australia is one of the most developed and sophisticated financial markets in the Asia-Pacific region, with a strong and stable economy, a robust and transparent regulatory framework, and a high level of investor protection and education. The Australian Securities Exchange (ASX) is the primary stock exchange in Australia, and one of the largest in the Asia-Pacific region, with over 2,300 listed companies and a total value of over $2.3 trillion as of February 2024. The ASX also offers a diverse range of products and services, including equities, derivatives, commodities, fixed income, and exchange-traded products (ETPs), such as ETFs and leveraged and inverse products (L&I Products).

Australia is also a leading country in terms of cryptocurrency adoption and innovation, with a supportive and progressive attitude towards digital assets. According to a report, 17% of Australians own some form of cryptocurrencymaking it the top most ready crypto-friendly country in the world, in front of U.S., Brazil and UAE. I was talking to an association in Australia and was told that there are over 300 crypto businesses, 40 crypto exchanges, and 20 crypto funds operating in the country. Although, I do not have the exact numbers but I do believe there are more. Additionally, Australia has a clear and comprehensive regulatory framework for crypto assets, which covers aspects such as taxation, anti-money laundering, consumer protection, and licensing. The Australian Securities and Investments Commission (ASIC) is the main regulator for crypto assets in Australia, and has issued several guidelines and statements on how crypto assets are treated under the existing laws and regulations. You can refer to ASIC’s Information Sheet 225, Crypto-assets (INFO 225) as a guide for the community and industry understand when financial services laws may apply to crypto-assets.

Given these factors, it makes sense for Australia’s main stock market, the ASX, to be the next destination for Bitcoin ETF launches. In fact, Australia already has access to physically backed Bitcoin ETFs since May 2022, via the 21shares Bitcoin ETF (EBTC) listed on Cboe Australia, a secondary exchange that operates under the ASX’s license. However, the ASX itself has not yet approved any Bitcoin ETFs, despite receiving several applications from various providers, such as BetaShares, VanEck, and Fidelity. The main reason for the delay is the ASX’s cautious and conservative approach towards crypto assets, which reflects its high standards and expectations for product quality, investor suitability, and market integrity. The ASX has stated that it is closely monitoring the developments and innovations in the crypto space, and that it is open to considering Bitcoin ETFs, as long as they meet its rigorous requirements and address its concerns8.

Some of the key issues that the ASX is likely to consider before approving Bitcoin ETFs are:

  • The liquidity and volatility of the underlying Bitcoin market, and the potential impact on the ETF’s price discovery, trading, and redemption.
  • The security and reliability of the Bitcoin custodian, and the measures taken to prevent hacking, theft, or loss of the Bitcoin holdings.
  • The valuation and accounting methods used to determine the net asset value (NAV) of the ETF, and the frequency and accuracy of the NAV calculation and dissemination.
  • The risk management and compliance policies and procedures of the ETF provider, and the adequacy of the disclosure and reporting to the investors and the regulators.
  • The suitability and education of the investors, and the availability of sufficient information and guidance on the risks and benefits of investing in Bitcoin ETFs.

I believe that these issues are not insurmountable, and that the ASX will eventually approve Bitcoin ETFs, as long as the applicants can demonstrate that they have addressed them satisfactorily, and that they have the necessary expertise, experience, and resources to offer a high-quality and safe product. I also believe that the ASX will benefit from approving Bitcoin ETFs, as it will enhance its reputation as a leading and innovative exchange, attract more investors and capital to its market, and diversify its product offering and revenue streams. Therefore, I expect that the ASX will approve Bitcoin ETFs in the second half of 2024, following the example of other major exchanges around the world.

Analyst sentiment on bringing more liquidity into Bitcoin products through ETF launches

One of the main benefits of Bitcoin ETFs is that they bring more liquidity into Bitcoin products, by increasing the supply and demand of Bitcoin, and by facilitating the trading and arbitrage of Bitcoin across different platforms and markets. Liquidity is a measure of how easily and quickly an asset can be bought or sold without affecting its price, and it is an important factor for the efficiency, stability, and growth of any market. Higher liquidity means lower transaction costs, faster execution, better price discovery, lower volatility, and higher investor confidence.

Analysts generally have a positive sentiment on bringing more liquidity into Bitcoin products through ETF launches, as they believe that it will improve the overall performance and attractiveness of Bitcoin as an asset class, and that it will create more opportunities and value for investors, traders, and the crypto industry. Some of the main arguments that analysts make in favor of Bitcoin ETFs are:

  • Bitcoin ETFs increase the demand for Bitcoin, as they attract more investors, especially institutional and retail investors, who may otherwise be reluctant or unable to invest in Bitcoin directly, due to technical, regulatory, or operational barriers. Bitcoin ETFs also increase the supply of Bitcoin, as they require the ETF providers to buy and hold Bitcoin to back their ETF shares, creating a positive feedback loop that drives up the price and the adoption of Bitcoin.
  • Bitcoin ETFs facilitate the trading and arbitrage of Bitcoin, as they allow investors to buy and sell Bitcoin on regulated exchanges and platforms, with lower fees, higher liquidity, and better security, than on unregulated or offshore crypto exchanges. Bitcoin ETFs also allow investors to exploit price differences and inefficiencies between the spot and the futures markets, and between different regions and jurisdictions, creating a more integrated and efficient global market for Bitcoin.
  • Bitcoin ETFs improve the price discovery and the volatility of Bitcoin, as they reflect the true and fair value of Bitcoin, based on the supply and demand of the market, rather than the speculation or manipulation of the market. Bitcoin ETFs also reduce the volatility of Bitcoin, as they smooth out the price fluctuations and the shocks caused by external events, such as hacks, bans, or news, by providing more liquidity and stability
  • Bitcoin ETFs enhance the reputation and the legitimacy of Bitcoin, as they bring Bitcoin into the mainstream financial system, by making it available on regulated exchanges and platforms, and by attracting institutional and retail investors who may otherwise be skeptical or hostile towards Bitcoin. Bitcoin ETFs also foster a more positive and constructive relationship between the crypto industry and the regulators, as they demonstrate the willingness and the ability of the crypto industry to comply with the existing laws and regulations, and to cooperate with the regulators to address their concerns and expectations.

When the public can expect approval in specific regions

The approval and the launch of Bitcoin ETFs in different regions depend on various factors, such as the market size, the regulatory environment, the investor demand, and the innovation potential of each region. Therefore, it is difficult to predict with certainty when the public can expect approval in specific regions, as each region has its own challenges and opportunities, and as the crypto space is constantly evolving and changing. However, based on the current trends and developments, I will provide some estimates and expectations for the approval and the launch of Bitcoin ETFs in some of the major regions in the world.

  • Europe: Europe is one of the most advanced and progressive regions in terms of cryptocurrency regulation and innovation, with several countries, such as Germany, Switzerland, and Sweden, already having approved and launched Bitcoin ETFs, and with others, such as France, Italy, and Spain, showing interest and openness towards crypto assets. Europe also has a high level of crypto adoption and awareness, with 15% of Europeans owning some form of cryptocurrency, making it the fourth most crypto-friendly region in the world, behind Africa, Asia, and Oceania. Therefore, I expect that Europe will continue to approve and launch Bitcoin ETFs in the near future, and that it will become one of the leading hubs for Bitcoin ETFs in the world.
  • Latin America: Latin America is one of the most emerging and promising regions in terms of cryptocurrency adoption and innovation, with several countries, such as Brazil, Argentina, Mexico, and Colombia, being among the top adopters and users of crypto assets in the world. Latin America also has a challenging and uncertain regulatory environment for crypto assets, with different countries having different levels and degrees of regulation, supervision, and enforcement of crypto assets, and with some countries facing political and economic instability and turmoil. Therefore, I expect that Latin America will have a slow and gradual outlook for the approval and the launch of Bitcoin ETFs in the near future, with some countries, such as Brazil, being more advanced and ready to approve and launch Bitcoin ETFs, and others, such as Venezuela, being more behind and unprepared to do so.
  • Asia: Asia is one of the most dynamic and diverse regions in terms of cryptocurrency adoption and innovation, with several countries, such as China, Japan, South Korea, and Singapore, being among the top players and influencers in the global crypto market. Asia also has a high level of crypto adoption and enthusiasm. However, Asia also has a complex and inconsistent regulatory environment for crypto assets, with different countries having different views and approaches towards crypto assets, ranging from supportive and progressive, to restrictive and hostile. Therefore, I expect that Asia will have a mixed and varied outlook for the approval and the launch of Bitcoin ETFs in the near future, with some countries, such as Hong Kong, Singapore, and Japan, being more likely to approve and launch Bitcoin ETFs, and others, such as China, India, and Indonesia, being less likely to do so.

Hong Kong is another potential hub for Bitcoin ETFs in the Asia-Pacific region

Hong Kong is one of the world’s leading financial centers and is also a gateway to mainland China, which despite its crackdown on crypto activities, remains a major player and influencer in the global crypto market. Hong Kong is also a prominent country in terms of cryptocurrency adoption and innovation, with a vibrant and growing crypto ecosystem.

According to a report, 18% of Hong Kong residents are active investors of cryptocurrency, while 13% are more passive, making it the most crypto-friendly country in the world. Hong Kong also has a supportive and progressive attitude towards digital assets, with a vision to become a leading fintech and crypto hub in the region. Hong Kong’s regulatory environment for crypto assets has been somewhat unclear and inconsistent in the past, with different regulators having different views and approaches towards crypto assets. The main regulator for crypto assets in Hong Kong is the Securities and Futures Commission (SFC), which oversees the securities and futures markets in the country. The SFC has issued several guidelines and statements on how crypto assets are treated under the existing laws and regulations. However, the SFC’s jurisdiction only covers crypto assets that fall under the definition of “securities” or “futures contracts”, which excludes most of the cryptocurrencies, such as Bitcoin, that are not backed by any physical assets, rights, or obligations. Therefore, the SFC has adopted a voluntary and opt-in regulatory framework for crypto exchanges and funds that deal with non-security crypto assets, which means that they can choose to apply for a license and comply with the SFC’s rules and standards, or they can operate outside the SFC’s purview, as long as they do not offer any security crypto assets to the public.

This regulatory framework has created some challenges and uncertainties for the crypto industry and the investors in Hong Kong, as it limits the scope and the quality of the crypto products and services that are available and accessible in the country, and as it exposes them to higher risks and lower protections. However, in recent months, there have been some significant changes and developments that are pushing for a change in the regulatory relation between the SFC and the crypto industry in Hong Kong, and that are creating more favorable conditions for the approval and the launch of Bitcoin ETFs in the country. Some of these changes and developments are:

  • The pressure and the competition from the US and other approved countries, which have approved and launched Bitcoin ETFs, and which have attracted a huge amount of capital and interest from investors and traders around the world. The SFC may feel the need and the urge to catch up with the global trend and to maintain its competitiveness and relevance as a leading financial center and a crypto hub in the region.
  • The feedback and the demand from the crypto industry and the investors in Hong Kong, who have expressed their desire and their expectation for more clarity and consistency in the regulation of crypto assets, and for more access and exposure to Bitcoin and other non-security crypto assets, especially through regulated and reputable products and platforms, such as Bitcoin ETFs.
  • The innovation and the improvement in the crypto space, which have addressed some of the SFC’s concerns and issues regarding the liquidity, the volatility, the security, and the reliability of Bitcoin and other non-security crypto assets, and which have demonstrated the feasibility and the viability of Bitcoin ETFs, as evidenced by the successful performance and the popularity of Bitcoin ETFs in other markets.
  • The cooperation and the communication between the crypto industry and the regulators in Hong Kong, which have increased and enhanced in recent times, and which have fostered a more positive and constructive relationship and dialogue between the two parties, with the aim of finding a common ground and a mutual understanding on the regulation and the development of crypto assets in the country.

I believe that these changes and developments are indicative of a warming regulatory relation in Hong Kong, and that they will pave the way for the approval and the launch of Bitcoin ETFs in the country. I also believe that Hong Kong will benefit from approving Bitcoin ETFs, as it will boost its reputation and its attractiveness as a fintech and a crypto hub, attract more investors and capital to its market, and diversify its product offering and revenue streams. Therefore, I expect that Hong Kong will approve Bitcoin ETFs as early as end of the first quarter of 2024.

Conclusion

Bitcoin ETFs are more than just another investment product. They are a catalyst and a conduit for the transformation and the evolution of the global financial system, and for the adoption and the integration of Bitcoin and other crypto assets into the mainstream economy and society. Bitcoin ETFs offer a simple, convenient, and secure way for investors to access and benefit from the potential and the value of Bitcoin, without having to deal with the technical, regulatory, or operational challenges and risks of investing in Bitcoin directly. Bitcoin ETFs also bring more liquidity, efficiency, stability, and legitimacy to the Bitcoin market, by increasing the supply and demand of Bitcoin, by facilitating the trading and arbitrage of Bitcoin across different platforms and markets, by improving the price discovery and the volatility of Bitcoin, and by enhancing the reputation and the relationship of Bitcoin with the regulators and the public.

With the US joining the ranks of other approved countries, such as Canada, Germany, Switzerland, and Sweden, the big question is which region is next to see approvals and poise as a hub for Bitcoin ETFs. In this article, I have argued that Australia and Hong Kong are the most likely candidates for the next wave of Bitcoin ETF launches, based on their market size, regulatory environment, investor demand, and innovation potential. I have also provided some estimates and expectations for the approval and the launch of Bitcoin ETFs in other major regions, such as Europe, Latin America, and Asia. However, these are not the only factors that will determine the future and the fate of Bitcoin ETFs.

The crypto space is constantly changing and evolving, and new developments and innovations may emerge and disrupt the status quo and the expectations of the market and the regulators. Therefore, it is important to keep an eye on the trends and the signals that indicate the direction and the pace of the Bitcoin ETF movement, and to be prepared and adaptable to the opportunities and the challenges that it may bring. Bitcoin ETFs are not the end goal, but the means to an end.

The end goal is to create a more open, inclusive, and sustainable financial system, and to empower people with more choice, freedom, and value. Bitcoin ETFs are one of the ways to achieve that goal, and I believe that they will play a significant and positive role in the future of finance and society.

 

 

Source: https://www.securities.io/bitcoin-etfs-which-region-is-next-to-see-approvals-and-poise-as-a-hub-australia-hong-kong/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Public Market- Where are the biggest institutional opportunities?- Digital Assets: Realised – Hong Kong

Public Market- Where are the biggest institutional opportunities?- Digital Assets: Realised – Hong Kong

Public Markets – Where are the Biggest Institutional Opportunities? ETF, Mutual Funds, Stocks, Bonds

– Moderator: Julien Bahurel, Partner, Deep Blue/Definer Fund
– Anndy Lian, Senior Advisor, Peach Income Fund
– Tony Wong, Managing Director, CSOP Asset Management
– Nicholas Studholme Wilson, Chief Operating Officer – Asia, GFO-X

At the panel discussion, industry experts gathered to explore the transformative potential of tokenization in asset classes and the future of financial markets. The conversation, moderated by Julian, delved into the implications of digitizing assets and the infrastructure required to support this evolution.

Julian opened the panel by highlighting the significance of functional markets, which are valued at approximately 4 trillion dollars. The focus then shifted to the opportunities presented by liquid markets through tokenization or digitization.

Tony discussed the enormous opportunities within the crypto space, particularly in Asia, where a significant portion of crypto trading activity originates. He emphasized the institutional interest in crypto markets, especially following price openings, and the inquiries from traditional managers and private bankers about accessing these new asset classes with appropriate risk levels. He pointed out that mutual funds might be the first asset class to adopt tokenization, revolutionizing the distribution landscape. He envisioned mutual funds being traded on exchanges like any other asset, within regulatory frameworks, making them accessible 24/7.

Anndy concurred with Tony’s views on mutual funds. He described tokenizing them as a “piece of cake” and predicted a substantial uptake, particularly in Hong Kong, which could become a significant player in the Asian market. Anndy also touched upon the role of exchanges like NASDAQ in a blockchain-dominated world, speculating that traditional exchanges might adapt to offer 24/7 services using blockchain technology.

Nicholas shared his perspective on achieving the end goal of a fully tokenized state on multiple chains. He stressed the importance of starting with existing infrastructure to generate revenue before transitioning to more advanced systems. Nicholas also discussed the challenges of latency and privacy considerations, suggesting that permissioned chains might be a necessary starting point before moving to public chains.

The panelists debated the coexistence of traditional liquid markets with tokenized markets, agreeing that while they may initially coexist, the superior efficiency of tokenized systems would eventually lead to a transition.

The conversation also touched on the regulatory implications of tokenization. While the technology offers exciting possibilities, it also presents challenges for regulators who must adapt to a rapidly evolving landscape.

As the discussion concluded, the panelists expressed optimism about the future of tokenized markets. They envisioned a world where traditional and tokenized markets coexist and eventually converge, thanks to improved infrastructure and broader acceptance of blockchain technology.

The panel’s insights suggest that while the journey toward widespread tokenization is still in its early stages, the destination promises a more inclusive and efficient market for all participants. As the technology matures and regulatory frameworks evolve, we may witness a significant shift in how assets are traded and managed globally.

Digital Assets: Realised held in Hong Kong on 7 March 2024. The event brought traditional funding, listing players, and new digital exchange and platform opportunities.

 

Source: https://blockcast.cc/videos/public-market-where-are-the-biggest-institutional-opportunities-digital-assets-realised/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Harvest Fund’s Spot Bitcoin ETF Application: A Game-Changer for Hong Kong’s Crypto Landscape

Harvest Fund’s Spot Bitcoin ETF Application: A Game-Changer for Hong Kong’s Crypto Landscape

In a groundbreaking move that could reshape Hong Kong’s financial landscape, Harvest Fund Management has officially submitted the first-ever application for a spot Bitcoin ETF to the Hong Kong Securities and Futures Commission (SFC) on January 26. This development comes hot on the heels of the recent approval of similar ETFs by the US Securities and Exchange Commission (SEC) and marks a pivotal moment for the city’s growing interest in cryptocurrencies.

The SFC has expressed a keen interest in expediting the approval process for Hong Kong’s inaugural spot Bitcoin ETF. Plans are underway to list it on the Hong Kong Stock Exchange shortly after the Chinese New Year in February. This rapid development could set the stage for multiple institutions to enter the market, aligning with the US model where ETF sizes grew rapidly under the influence of key financial players.

While Harvest Fund is the first to apply, several existing crypto companies that launched futures-based ETFs in Hong Kong are expected to follow suit. Samsung Asset Management, known for launching the Samsung Bitcoin Futures ETF in 2023, has expressed openness to exploring a spot ETF. Other financial firms such as Venture Smart Financial Holdings have shown interest in applying for a spot crypto ETF too.

Moreover, Harvest Fund’s ETF might distinguish itself from its US counterparts. There are indications that it could allow not only traditional fiat currency subscriptions but also direct Bitcoin subscriptions. This novel approach could provide investors in the region with a distinctive and flexible investment option.

Implications for Hong Kong’s Financial Landscape

The recent developments in Hong Kong are not surprising given the city’s crypto-ready stance. Hong Kong has been a frontrunner in embracing digital assets, evidenced by its eight-month-old rulebook about digital assets, aimed at protecting investors while encouraging innovation. This forward-thinking approach has positioned Hong Kong as an attractive destination for crypto-related ventures.

The introduction of a spot Bitcoin ETF is bound to have a profound impact on Hong Kong’s financial sector, providing investors with an accessible and regulated gateway to the world of cryptocurrencies. It aligns with the city’s goal to establish itself as a digital-asset hub, fostering innovation while ensuring investor protection.

Growing Acceptance of Crypto in Hong Kong

The submission by Harvest Fund signals a remarkable shift in the perception and acceptance of cryptocurrencies within mainstream financial markets. However, this acceptance is not limited to ETFs. The Hong Kong Monetary Authority (HKMA) has been in discussions with companies like Harvest Global Investments, RD Technologies, and Venture Smart Financial Holdings regarding stablecoin trials within regulatory sandboxes. These developments underline Hong Kong’s commitment to fostering innovation and facilitating the integration of digital assets into its financial ecosystem.

Impact on Investment Opportunities

The potential approval of Harvest Fund’s ETF could open the floodgates for a diverse range of investors, especially those who are traditionally cautious due to the perceived complexity and risks associated with the crypto market. The potential approval aligns with a global trend where institutional investors are increasingly exploring cryptocurrency as an alternative investment, particularly in the wake of traditional market challenges.

Anndy Lian, an intergovernmental blockchain advisor, emphasizes the global context, pointing out that the Chinese stock market had a lackluster performance in 2023. The increasing interest in crypto alternatives is viewed as a positive development for the crypto industry. Harvest Fund, ranking as China’s sixth-largest public fund manager, filing for a Bitcoin ETF could pave the way for more Chinese capital to flow into the crypto market.

Global Impacts

Global Crypto Adoption

The developments of the crypto landscape in Hong Kong are likely to influence other nations in the integration of crypto into traditional financial systems. The approval of a spot Bitcoin ETF in Hong Kong could encourage regulatory bodies in other countries to review their own stance about cryptocurrencies and provide a clearer regulatory framework for digital assets. Hong Kong’s regulatory approach to the spot Bitcoin ETF approval may serve as a blueprint for other regions. Regulators in various jurisdictions are likely to closely observe how Hong Kong balances investor protection with fostering innovation. The approval could set a standard for regulatory frameworks, providing clarity and encouraging other countries to follow suit.

Global Investor Confidence

Furthermore, the potential approval of a spot Bitcoin ETF in Hong Kong is poised to attract investors, especially institutional ones, on a global scale. Hong Kong’s embrace of a spot Bitcoin ETF could instill a sense of confidence in investors worldwide. The move signifies a departure from the skepticism that has surrounded cryptocurrencies in some traditional financial circles. As confidence grows, more investors, both retail and institutional, may be inclined to allocate a portion of their portfolios to digital assets. That’s why investors, both in Asia and beyond, are closely monitoring Hong Kong’s stance on cryptocurrency investment.

Increased Market Capitalization of Cryptocurrencies

It’s also worth mentioning that the approval of a spot Bitcoin ETF in Hong Kong could contribute significantly to the overall market capitalization of cryptocurrencies. As institutional investors gain easier access to Bitcoin through ETFs, a surge in demand is likely, driving up the price of the digital asset. This increased valuation directly contributes to the broader market capitalization of cryptocurrencies.

 

Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.

Source: https://www.bitget.com/en-GB/academy/harvest-fund-filed-the-first-spot-btc-etf-in-hong-kong

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

j j j