CDS Crypto News Hong Kong based OSL predicts that spot Bitcoin ETFs may become operational within this month

Crypto News

Hong Kong based OSL predicts that spot Bitcoin ETFs may become operational within this month

OSL, serving as a sub-custodian and infrastructure service provider for two fund managers, expressed that the spot bitcoin products are targeting a launch as soon as late April, contingent upon smooth interactions with regulators.

sevval16/04/20241 Mins read410

Hong Kong Based Osl Predicts That Spot Bitcoin Etfs May Become Operational Within This Month

Crypto News– Asset managers in Hong Kong, including units of China Asset Management (ChinaAMC) and Harvest Global, are gearing up to launch their spot bitcoin exchange-traded funds (ETFs) as early as later this month, as confirmed by OSL with The Block today.

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Hong Kong based OSL predicts that spot Bitcoin ETFs may become operational within this month

Reports suggest a spot BTC ETF may start in late April, with a spot ETH ETF following shortly after. All parties are working expeditiously to complete the process. However, exact dates remain unconfirmed at this time. We view the recent approval in principle positively as it moves the industry closer to launching spot crypto ETFs.
Patrick Pan

Pan told Foresight News, a Chinese-language crypto news outlet, today that the spot bitcoin ETFs may become available for investors as early as late April.

ChinaAMC anticipates robust demand

Latest on HK spot Bitcoin ETFs: They have been approved to exist but not launch (yet). Rumor has it launching next wk so to not compete w Dubai conf. Don't expect a lot of flows (I saw one estimate of $25b that's insane). We think they'll be lucky to get $500m. Here's why:
1. HK…
— Eric Balchunas (@EricBalchunas) April 15, 2024

Katie He, the head of product and strategy at ChinaAMC (HK), stated to The Block today that the demand for their forthcoming spot crypto ETFs might be significant‘ considering that only professional investors in Hong Kong currently have access to U.S.-listed spot ETFs.

He mentioned that Hong Kong investors will have three choices for cryptocurrency exposure once spot crypto ETFs are theblock.

They can access spot bitcoin on the SFC-licensed VATPs, or they can get access through futures-based bitcoin or ether ETFs which may raise efficiency concerns due to high rolling costs associated with futures contracts, Meanwhile, only professional investors in Hong Kong could have access to US-listed spot ETFs, so the introduction of spot products in Hong Kong really provides the investment opportunity to a wider audience.
Katie He

Sources:theblock

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sevval

Şevval has been actively writing since 2022 and is a third-year mathematics student at Ankara University. Her interest in writing is shaped particularly around innovative technologies such as Web3, artificial intelligence, and blockchain. She closely follows developments in these fields and aims to convey complex topics to readers in a clear and engaging manner. She enjoys combining her mathematical knowledge with technology to create content and strives to raise awareness about the digital world of the future.