Hong Kong ETFs Could SHOCK The Markets!! Here's Why!!
Published: 2024-06-06
Status:
Available
|
Analyzed
Published: 2024-06-06
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
Bitcoin experienced a 12.6% price drop from approximately $65,700 to nearly $56,500 between April 30th and May 1st.
"between the 30th of April and the 1st of May BDC plunged 12.6% from around 65,7 to almost $56,500"
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The world's first spot Ethereum ETF reached $54 million in assets under management.
"the world's first spot eth ETF had $54 million in asset under management"
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On May 13th, Bitcoin's daily price increased by 2.37%.
"on the 13th of May it was up 2.37% on the daily"
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The approval process for Hong Kong's spot crypto ETFs, while seemingly swift compared to the US, was perceived by some industry insiders as taking too long, potentially impacting the city's competitiveness.
"Hong Kong's ETFs weren't built on a week but rather several months now December to April might not sound like a long time to anyone who remembers the long wait for the US spot bitcoin ETFs but it seems there was some grumbling that the process of applications and approvals in Hong Kong was actually taken too long"
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Industry insiders expressed concern in January that Hong Kong needed to expedite its crypto ETF approvals to remain competitive globally and not fall further behind the US.
"as early as mid January the South China Morning Post cited industry insiders saying Hong Kong and I quote needs to speed up approval to strengthen the city's competitiveness in the global cryptocurrency market and the Hong Kong had and I quote fallen behind the US in authorizing spot cryptocurrency ETFs"
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Tongle Han, CEO of Harvest Global, predicted that Hong Kong's crypto ETFs would attract significant demand from crypto-native investors in addition to traditional investors, leading him to believe the market size for these ETFs would be double that of the US.
"one of the new ETFs and subsid of the Mainland Chinese asset management company Harvest fund management Han told CNBC that in addition to the trafi investors at whom ETFs are usually marketed Hong Kong's ETFs would also generate and I quote huge demand from crypto natives who want to Stack SATs and eth rather than Fiat based on this argument Han reasoned that the market size for Hong Kong ETFs is double that of the United States equivalence"
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China AMC expressed confidence that the listing scale of Hong Kong's crypto ETFs would exceed $125 million.
"China AMS was and I quote confident that the listing scale of Hong Kong's crypto ETFs can exceed $125 million"
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Eric Balunas advised followers not to anticipate large numbers from Hong Kong's crypto ETFs, noting that US ETFs are in a league of their own.
"Eric balunas advising his followers to I quote not expect big numbers from Hong Kong based on the performance of the US ETFs which he said are and I quote in A League of Their Own"
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Eric Balunas suggested that the $37 million in assets under management for Hong Kong's new spot ETFs in their first week would be equivalent to $50 billion in the US market, on a relative basis.
"the $37 million in assets under management reached by Hong Kong's new spot ETFs in their first week would be the equivalent to $50 billion in asset under management in the United States in relative terms"
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The total net outflows for all new spot Bitcoin and Ether ETFs in Hong Kong amounted to approximately $19 million.
"the cumulative total flows of all of the new spot BTC and eth ETFs in Hong Kong amount to about $19 million in net outflows"
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On May 13th, Hong Kong's crypto ETFs experienced nearly $40 million in net outflows, marking the most active trading day to date.
"these ETFs saw just under $40 million in net outflows on what was by far the most active day of trading to date"
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The Stock Exchange of Hong Kong confirmed that its crypto ETFs are not accessible to investors in mainland China.
"on that day the stock exchange of Hong Kong confirmed to coindesk that Hong Kong's crypto ETFs aren't available to investors in mainland China"
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