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Home»ETHEREUM NEWS»Hong Kong’s Bitcoin and Ethereum ETF is a ‘message from China’: OSL CEO
ETHEREUM NEWS

Hong Kong’s Bitcoin and Ethereum ETF is a ‘message from China’: OSL CEO

By Crypto FlexsApril 30, 20243 Mins Read
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Hong Kong’s Bitcoin and Ethereum ETF is a ‘message from China’: OSL CEO
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After the Hong Kong spot bitcoin and Ethereum In ETFs A relatively successful first day Compared to cryptocurrency futures ETFs, some cryptocurrency industry observers believed this would send a message to China and Asia as a whole. However, the CEO of ChinaAMC and OSL, the sub-custodian of the Harvest Global ETF, believes this configuration is wrong.

“Some people may see this as a message to mainland China,” said Patrick Pan, OSL CEO and board chairman. decryption. “I think this is more of a ‘message’ from China for everyone to see.”

Hong Kong is a special administrative region ruled by China. China’s ‘testing ground’—The passage of spot cryptocurrency ETFs is likely influenced by the mainland. “Nothing happens in Hong Kong without China’s blessing,” said veteran analyst Markus Thielen. “Not even a single raindrop falls.” said decryption earlier this month.

“The successful launch of spot Bitcoin and Ethereum ETFs in Hong Kong speaks volumes about Hong Kong and its important role as a gateway to mainland China,” Pan added.

Nonetheless, mainland Chinese investors are currently unable to invest in this fund. That’s because Hong Kong ETFs must be listed for at least six months before being added to the Shanghai Stock Exchange’s Southbound Stock Connect program, a program that allows mainland Chinese investors to access Hong Kong assets.

China has a long and turbulent history with cryptocurrency. Effectively ban cryptocurrency many times. Therefore, accessing cryptocurrency ETFs in Hong Kong may be a rare route for mainland Chinese investors to access cryptocurrencies.

“After 2021, mainland China’s regulatory policy has become very clear on its stance on cryptocurrency asset businesses and mainland trading.” the fan said decryption“However, the development and maturity of Hong Kong’s regulated digital asset sector has not slowed down one bit.”

After OSL first applied for a spot ETF, it took just four months for the ETF to be approved and begin trading. This is a stark difference from . In the US the process is longFrom the first application to the final approval of several spot Bitcoin ETFs, it spanned nearly a decade.

“In just four months, we have succeeded in listing a highly sophisticated digital financial product on one of the world’s leading stock exchanges,” Pan explained. “The blueprint for broader and deeper adoption of digital asset products across (Asia) has been laid out for all to see.”

OSL Trading volume $11 million The Hong Kong ETF’s debut date is a “promising start” and the company said it was “encouraged” by early investor interest.

Editor: Andrew Hayward

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