Ethereum ETFs to Outdo Bitcoin ETFs in Hong Kong, Expert Predicts

Juhi Mirza
Source – Watcher Guru

Hong Kong is embracing the much-awaited Ethereum ETF launch today. The historic event has triggered an array of activity in the crypto vertical.

Amid the rising speculation, the head of digital asset management at China AMC, Zhu Haokang, shared how Ethereum ETFs will outperform Bitcoin ETFs in Hong Kong. The development will eventually give birth to a new wave of change for the space to encounter and explore.

Also Read: Ethereum April-End Price Prediction: Can ETH Hit $4,000?

Ethereum ETFs Are Now a Reality

Source: Watcher.Guru

Hong Kong is welcoming a new tidal wave of ETH ETFs as a new vertical for the region to explore. The ETFs started to trade a few hours ago, bringing in heavy volume speculation along with it. The launch is already at the forefront of the vertical, compelling analysts and traders to make predictions on it.

According to Zhao Huakang, head of digital assets at China AMC, Ethereum ETF’s day-one volume is poised to surpass that of Bitcoin ETF’s day-one volume metrics in the US.

“Moreover, I am very confident that the initial listing scale of Hong Kong’s virtual asset spot ETF. (more than US$125 million) can exceed the issuance scale on the first day of the United States.

Huakang later shared that Huaxia will emerge as the largest Ethereum ETF issuer out of the three new contenders, standing at the forefront of this pivotal change.

“Huaxia is confident that it will become the largest ETF issuer among the three issuers. The details will be revealed to everyone at 9:30 tomorrow morning.”

Hong Kong Welcomes Three Ethereum ETFs.

Hong Kong is pioneering the ETH ETF front by greenlighting three Ethereum ETFs that are set to launch today. While speaking at the launch event earlier, Wayne Huang of OSL Securities shared how Hong Kong’s stance on Ethereum is clearer than that of the US.

“Probably not, because whether the United States defines ETH as a security does not affect the independent decision-making of the Hong Kong Securities Regulatory Commission,” Huang responded.

Also Read: Hong Kong Bitcoin & Ethereum ETFs to Begin Trading April 30th

Ethereum ETFs are financial tools enabling users to explore Ethereum in a traditional guise. At press time, ETH is trading at $3,171, awaiting notable price action after the ETF jitters level down.