After SEC's greenlight for spot Bitcoin ETFs, what does this mean for Hong Kong?
With the world’s most famous cryptocurrency now more accessible, it is attracting a 'ripple effect' among investors in the SAR, but asset managers will need to adapt as further questions are raised about Bitcoin's future.
Koichiko
March 12, 2024
Cryptocurrencies have already achieved a significant investment milestone in 2024. In early January, the US Securities and Exchange Commission SEC approved tradable ETFs to track Bitcoin, a decision coming just months after the court of appeals in Washington ruled against the SEC’s decision for rejecting Grayscale Investment’s proposed Bitcoin ETF application.
Previous Bitcoin ETFs were only linked to future contracts rather than spot pricing.
In 2023, the globally renowned digital currency surged more than 150%, outperforming other major investments. But the SEC’s approval serves as a reputational win for the asset class, according to market experts, as digital currencies have overcome credibility worries...
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