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The potential opening of Hong Kong’s Bitcoin exchange-traded funds (ETFs) to investors from mainland China has sparked a flurry of excitement and speculation within the cryptocurrency market.
On April 30, Hong Kong launched spot Bitcoin and Ethereum ETFs, marking a significant development for crypto trading in Asia. Although the initial trading volume was modest, the geographical and economic proximity of Hong Kong to China has raised prospects of cross-border crypto investments.
Richard Byworth, managing partner at SyzCapital and a noted Bitcoin investor, recently hinted at a pivotal development. In a conversation with Samson Mow on social media platform X (formerly Twitter), Byworth mentioned ongoing discussions about including the spot Bitcoin ETF in the Stock Connect program.
This program, encompassing the Shenzhen-Hong Kong and Shanghai-Hong Kong Stock Connects, facilitates cross-border trading. It allows investors to use local brokers and clearing houses to access shares in each other’s markets.
Despite China’s stringent anti-crypto policies, Byworth’s comments have rekindled hopes. Brian HoonJong Paik, co-founder and COO of SmashFi, echoed this sentiment. He highlighted the need for alternative assets in China against a backdrop of real estate challenges.
Paik pointed out that with significant capital locked in underutilized real estate, the Chinese Communist Party might look favorably on accessible investment diversifications like Bitcoin ETFs.
Adding to the optimistic outlook, analysts from Bernstein have reinforced a bullish stance on their Bitcoin price prediction. Despite a recent dip to about $57,000, Bernstein’s analysts, Gautam Chhugani and Mahika Sapra, predict that Bitcoin could reach $150,000 by the end of 2025.
The analysts cite robust inflows into US Bitcoin ETFs and favorable market conditions post-halving.
Read more: Bitcoin Price Prediction 2024 / 2025 / 2030
The confluence of potential regulatory easing in China, strategic financial moves in Hong Kong, and positive market analytics from experts suggests a bullish phase for Bitcoin. As mainland investors eye the ETF market in Hong Kong, the crypto market might be about to witness significant shifts.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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The post China’s Bitcoin ETF Access Sparks $150,000 Price Prediction appeared first on Panther AI.
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On April 30, Hong Kong launched spot Bitcoin and Ethereum ETFs, marking a significant development for crypto trading in Asia. Although the initial trading volume was modest, the geographical and economic proximity of Hong Kong to China has raised prospects of cross-border crypto investments.
Will China Enable Access to Bitcoin ETFs?
Richard Byworth, managing partner at SyzCapital and a noted Bitcoin investor, recently hinted at a pivotal development. In a conversation with Samson Mow on social media platform X (formerly Twitter), Byworth mentioned ongoing discussions about including the spot Bitcoin ETF in the Stock Connect program.
This program, encompassing the Shenzhen-Hong Kong and Shanghai-Hong Kong Stock Connects, facilitates cross-border trading. It allows investors to use local brokers and clearing houses to access shares in each other’s markets.
Despite China’s stringent anti-crypto policies, Byworth’s comments have rekindled hopes. Brian HoonJong Paik, co-founder and COO of SmashFi, echoed this sentiment. He highlighted the need for alternative assets in China against a backdrop of real estate challenges.
Paik pointed out that with significant capital locked in underutilized real estate, the Chinese Communist Party might look favorably on accessible investment diversifications like Bitcoin ETFs.
Adding to the optimistic outlook, analysts from Bernstein have reinforced a bullish stance on their Bitcoin price prediction. Despite a recent dip to about $57,000, Bernstein’s analysts, Gautam Chhugani and Mahika Sapra, predict that Bitcoin could reach $150,000 by the end of 2025.
The analysts cite robust inflows into US Bitcoin ETFs and favorable market conditions post-halving.
Read more: Bitcoin Price Prediction 2024 / 2025 / 2030
The confluence of potential regulatory easing in China, strategic financial moves in Hong Kong, and positive market analytics from experts suggests a bullish phase for Bitcoin. As mainland investors eye the ETF market in Hong Kong, the crypto market might be about to witness significant shifts.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Source link
The post China’s Bitcoin ETF Access Sparks $150,000 Price Prediction appeared first on Panther AI.
Continue reading...