The newly approved Hong Kong Spot Bitcoin ETF products are reportedly expected to launch as early as April. Indeed, the products are eyeing an arrival date this month according to sub-custodian and infrastructure service provider OSL. Indeed, the digital solutions platform told The Block today.
They state that the launch date should be unchanged if the interaction between the issuer and regulator continues to proceed without strain or a slowdown. Additionally, China Asset Management (ChinaAMC) is expecting “substantial” demand for the Bitcoin investment vehicle.
Also Read: Hong Kong Approves Spot Bitcoin and Ethereum Application
Hong Kong Spot Bitcoin ETFs to Launch This Month?
In January of this year, the US Securities and Exchange Commission (SEC) approved the creation of 11 Spot Bitcoin ETFs. Just a day later the products went live, and trading began. Since then, the products have been immensely successful, becoming historic in their inflows this early in their existence.
There is anticipation that such success could be replicated across markets and regions. That is certainly the hope in Hong Kong, as the Spot Bitcoin ETFs are expected to launch in April. Subsequently, they would follow a similar model, and begin trading shortly after approval was granted.
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“Reports suggest a Spot Bitcoin ETF may start in late April, with a spot Ethereum ETF following shortly after,” OSL Chairman of the Board and CEO Patrick Pan said. “All parties are working expeditiously to complete the process. However, exact dates remain unconfirmed at this time.”
Additionally, Pan noted that they perceived approvals “in principle positive as it moves the industry closer to launching spot crypto ETFs.” Moreover, there is increased anticipation regarding how these two approved ETFs will perform, with optimism abounding within its issuers.
However, Bloomberg’s Erich Balchunas was not as certain that positive performance is guaranteed for the products. Specifically, he took to X (formerly Twitter) to lessen some of that excitement. “Don’t expect a lot of flows,” Balchunas said. Thereafter, he added that “Chinese locals cannot buy these, at least officially.”