Bitcoin ETF approved in Hong Kong

[tabas]

With more ETF approval across Asia, the positive sentiment will rise. Analysts are predicting BTC might set a new all-time high because of this activity after the halving or near the end of the year. I am certainly all in on crypto and have invested heavily in a reputable crypto firm with a proprietary crypto trading bot that continues to rebalance my portfolio for maximum gains, keeping me a happy camper.

We're all moving forward to the new all time high that might happen this year but if not, early quarters of 2025. Bitcoin spot ETFs are now one of the contributors for the bull run that we're all waiting for and in fact, it helped to surpass the ATH of 2021.

China has a different approach although the big mining farms are found there but they seem to be quiet for how many years after the news about ban has appeared once again. And speaking of correction, now we're back to $62k and this seems to be the support and I hope that it really is.

You are right, China has a different approach and I am trying to understand it so we can also prepare, as they might not be planning to make money in a bull, as they might have plans for the bear market which is also considerable for us and should be. Besides they are not quite as crypto is not illegal it's just not legal there. Which have some differences. As there are no strict rules against crypto users. Chinese are still using them. Actually the most of the volume on Binance came directly from China. I was shocked after hearing this news.

And yeah speaking of correction, actually when I was writing the post, I did not notice the price is already crossed my assumption, I have to edit it quickly after posting the post, I guess I edit it before or maybe after not so sure. But still market is highly unpredictable at the moment, but I doubt it will go below $60k. I have my limits there. But still I will wait as I was expecting it before and after halving. Let's hop it will not go down more.

As long as there's money, everyone is making a plan and some nations don't want to get late on it. The cycle is already known globally if they're going to step onto Bitcoin providing these ways of making their people invest on it. Those that are scared to invest on their own are the target market of these spot etfs.

I have heard this news too, but Bitcoin and Ethereum do not seem to be reacting to this news. There weren't any significant movements at all, even though this is big news. I don't see any valid reason why Bitcoin is dipping now after the Israel attack. I think the war is not going to continue with Iran, so the market should become normal again. Besides, Hong Kong ETF approval is big news for the Bitcoin community, but we can't realise any impact. I think it would take sometimes, like US ETF, if it wasn't pumped instantly and started pumping after a few days. 

I'm not expecting a quick reaction for Bitcoin. Let's wait and give it sometime for a few months or even at the end of this year. It is for sure that we're going to see the big impact of these bitcoin etf approvals.

Hong Kong is simply hoping to outshine Blackrock by getting on board just in time to ride Bitcoin wave. Just in too Landesbank Baden-Württemberg (LBBW), which is Germany's largest federal bank in my own opinion wants to test the crypto waters as it has been reported that they have a plan to start offering customers crypto custody services and sooner than we think, they will for a spot Bitcoin ETF. When all these happens and other big institutional investors enter the market, I don't know if there still be any bitcoin left for the others who want to but the real bitcoin.

I think that I've heard of that company before but if they're venturing into crypto and trying to get a chunk on this bull run, everyone is free to do so. They're going to contribute to the bull run that we're all waiting for but for them, they want to have some share too. I'm expecting more centralized companies, government and private institutions to get their hands to Bitcoin for this year before they're too late.

Currently, the related link source I checked publish yesterday on not right moment after war issues between Iran and Israel make bitcoin get crash drastically. I think have difference viewed if Bitcoin ETF approved in Hong Kong before war happening between Iran and Israel with potential bitcoin will raise more higher price, its keep good news for bitcoin after SEC ETF approving now Hongkong allowing to make bitcoin get approval.
I think there are not instant effect with Bitcoin ETF approved in Hongkong such as when SEC approving bitcoin last two months need more longer time for bitcoin get positive impact raising to higher price, seems one or two week later with potential positive effect after Bitcoin ETF approving in Hongkong will make price pump drastically.

Those war news possibly have affected the market a bit but we've seen how it's resilient since we're on the start of the bull run. Most of the negative news will be eaten back by the bullishness of Bitcoin.

[Negotiation]

If the bitcoin ETF is approved in Hong Kong it could be good news for bitcoin as the demand increases and it will further increase the bitcoin price. Bitcoin ETFs both offer exposure to the cryptocurrency market each with their own advantages and considerations. Traditional investors may be drawn to bitcoin ETFs for their ease of access and regulatory oversight, while cryptocurrency enthusiasts may prefer bitcoin for decentralization and Hong Kong's potential participation in decentralized finance.

[tabas]

If the bitcoin ETF is approved in Hong Kong it could be good news for bitcoin as the demand increases and it will further increase the bitcoin price. Bitcoin ETFs both offer exposure to the cryptocurrency market each with their own advantages and considerations. Traditional investors may be drawn to bitcoin ETFs for their ease of access and regulatory oversight, while cryptocurrency enthusiasts may prefer bitcoin for decentralization and Hong Kong's potential participation in decentralized finance.

Any Bitcoin spot etf application that has been approved is good news, mainly for the price of Bitcoin and we all like that. While we the direct investors of BTC can hold it and knows how to do things and stuff through keeping it, the traditional investors are letting these institutions and brokers to do the investing for them.


Speaking of this Hong Kong Bitcoin spot etf approval, they're going to be traded starting April 30. Possible that we'll get some pump after this dump that we've seen recently.

April 24 (Reuters) - Hong Kong-listed spot bitcoin and ether exchange traded funds aim to start trading on April 30, three asset managers that provide the products said on Wednesday.[...]

[Iranus]

Speaking of this Hong Kong Bitcoin spot etf approval, they're going to be traded starting April 30. Possible that we'll get some pump after this dump that we've seen recently.

April 24 (Reuters) - Hong Kong-listed spot bitcoin and ether exchange traded funds aim to start trading on April 30, three asset managers that provide the products said on Wednesday.[...]

In late April and early May, we will have a lot of noteworthy news that will have a significant impact on the market. In addition to the news about Hong Kong ETFs that will start trading at the end of the month, we need to pay attention to the CZ trial that will also take place on the same day. Not to mention May 1 is the day the Fed will announce a reduction in interest rates and if the remaining 2 news are negative, I believe that with news about the HK ETF it will be difficult to pull the market back to growth.
I am also waiting for the HK ETF to open, this will have a positive impact on the market but I am not very optimistic about the remaining 2 news.

[tabas]

In late April and early May, we will have a lot of noteworthy news that will have a significant impact on the market. In addition to the news about Hong Kong ETFs that will start trading at the end of the month, we need to pay attention to the CZ trial that will also take place on the same day. Not to mention May 1 is the day the Fed will announce a reduction in interest rates and if the remaining 2 news are negative, I believe that with news about the HK ETF it will be difficult to pull the market back to growth.
I am also waiting for the HK ETF to open, this will have a positive impact on the market but I am not very optimistic about the remaining 2 news.

I agree, I've just read that source that we have to wait for the month of May to come. We're quite sluggish for this month of April but then, we have an idea on how things goes when we're stable like this for Bitcoin. The effect of etf from Hong kong will be soon be seen just like the ones that have been approved in the US before the halving. Although if it's with CZ's news, there can be a slight effect to the market to none IMO and about the FEDs announcement, we'd definitely see how Bitcoin's price is going to react on it.

[GreatArkansas]

In late April and early May, we will have a lot of noteworthy news that will have a significant impact on the market. In addition to the news about Hong Kong ETFs that will start trading at the end of the month, we need to pay attention to the CZ trial that will also take place on the same day. Not to mention May 1 is the day the Fed will announce a reduction in interest rates and if the remaining 2 news are negative, I believe that with news about the HK ETF it will be difficult to pull the market back to growth.
I am also waiting for the HK ETF to open, this will have a positive impact on the market but I am not very optimistic about the remaining 2 news.

I agree, I've just read that source that we have to wait for the month of May to come. We're quite sluggish for this month of April but then, we have an idea on how things goes when we're stable like this for Bitcoin. The effect of etf from Hong kong will be soon be seen just like the ones that have been approved in the US before the halving. Although if it's with CZ's news, there can be a slight effect to the market to none IMO and about the FEDs announcement, we'd definitely see how Bitcoin's price is going to react on it.

This is fundamentally good news! Remember what happened when US  ETFs were approved, even before that, we already saw market was pumping. So what happened recently is due to this also but the react is not that really high because seems some are not really appreciate ETF in Asia, but for me, we must appreciate this especially other region will do it also.

[tabas]

I agree, I've just read that source that we have to wait for the month of May to come. We're quite sluggish for this month of April but then, we have an idea on how things goes when we're stable like this for Bitcoin. The effect of etf from Hong kong will be soon be seen just like the ones that have been approved in the US before the halving. Although if it's with CZ's news, there can be a slight effect to the market to none IMO and about the FEDs announcement, we'd definitely see how Bitcoin's price is going to react on it.

This is fundamentally good news! Remember what happened when US  ETFs were approved, even before that, we already saw market was pumping.

Certainly, it is. We've got one more day until the start of the trading happens there in Hong Kong for the Bitcoin spot ETF.

So what happened recently is due to this also but the react is not that really high because seems some are not really appreciate ETF in Asia, but for me, we must appreciate this especially other region will do it also.

Because the reaction won't come on an instant, many speculators are about to wait on how the market will show how this kind of news affects entirely the market. So, let's wait until tomorrow or let's say for the month of May for which it's said that a lot of things are gonna happen.

[tbct_mt2]

This is fundamentally good news! Remember what happened when US  ETFs were approved, even before that, we already saw market was pumping. So what happened recently is due to this also but the react is not that really high because seems some are not really appreciate ETF in Asia, but for me, we must appreciate this especially other region will do it also.

There will be positive effects because new Bitcoin Spot ETFs in any nation will bring more new investors to this market, new capital into this market. Demand increases and with time, it will be reflected on price, lift the price up.

I don't know how long will it take for the effects to be shown on the market trading volume and price, but it will be shown.

The bull run will show its big momentum some months after the halving and holders will get benefit from this bull run. If they can hold, they will have better price to take profit in this bull run that has yet reached to its highest price area.

[tabas]

Just to give some update about their first day opening their trades, the volume is around $8.5M and that didn't affected the market a lot whilst for ETH etf is around $3.5M. That's far compared to the US' first day of Bitcoin spot ETF trading volume that reached $4.6B. Well, not to expect much as it's still the first day and that's still a great volume to add and it shall grow soon.
Source: HONG KONG BITCOIN ETFS RECORD $8.5 MILLION IN FIRST DAY VOLUME

[moneystery]

....

But it is good to know that bitcoin ETFs are not bitcoin but a token pegged to bitcoin spot price.

this is good news, but as you said, a bitcoin etf is still a bitcoin etf, it's not bitcoin, and an ethereum etf is not ethereum, so the impact on the crypto market is not as significant as crypto legalization. however, we need to support this because as etfs become increasingly legal, it will not rule out the possibility that crypto legalization will become clearer in the future.

[Jawhead999]

After ETFs is legalized in HongKong, now the price went down lol.

this is good news, but as you said, a bitcoin etf is still a bitcoin etf, it's not bitcoin, and an ethereum etf is not ethereum, so the impact on the crypto market is not as significant as crypto legalization. however, we need to support this because as etfs become increasingly legal, it will not rule out the possibility that crypto legalization will become clearer in the future.

If you mean to accepting crypto as legal tender, well it doesn't really give a significant adoption too, take a look with El Salvador, it's not even reach 50% of total citizen that choose Bitcoin over fiat for daily transactions.

Most of the countries already accept Bitcoin as a commodity or property.

[Nanga Parbat]

After ETFs is legalized in HongKong, now the price went down lol.

Almost more then a week has passed since the ETF was approved in hong Kong and during this time Bitcoin ETF was approved in hong Kong but also many ETF were not approved which has the opposite effect and instead of increasing the price of Bitcoin is decreasing and currently the price of Bitcoin is around 60k dollar.
Expectations were high for all ETF but no official announcement has been seen so far . And the other news listening received was that Australia is announcing the approval of an ETF this year regarding Ethereum, with the price  of Ethereum moving in a sideway direction earlier . With the arrival of this news the price of Ethereum will also start to down .

[Princess Leah]

Expectations were high for all ETF but no official announcement has been seen so far . And the other news listening received was that Australia is announcing the approval of an ETF this year regarding Ethereum, with the price  of Ethereum moving in a sideway direction earlier . With the arrival of this news the price of Ethereum will also start to down .

A lot of people including myself, except price of Bitcoin to go up after the approval of the Bitcoin ETH by Hong-Kong but instead it when the other way round, I know many that's been disappointed by this, there expectations where high cause many thought Bitcoin would reach 80k and even get but that but after the halving a lot of expectations were cut shot cause BTC didn't get to the point they expected during the halving.

 I feel sorry for those who borrowed money or invested in Bitcoin from their little savings because things didn't work out as plan but rather the price keeps going down. I even heard someone saying Bitcoin is of the devil and it's not a good asset to invest in, I belive such person is among those who expectations were high or borrowed to invest during the halving lol.

 Well, all hope I not lost Bitcoin is a volatile asset and it could still shock everyone although no one knows when. Atleast this could teach everyone that the approval of ETF by any country doesn't really determines the price of Bitcoin, bit I feel the hike of gas fee could be what influenced the drop in price currently.

[Magic-Money]

That's a good News to hear towards Bitcoin and Ethereum ETF approved in Hong Kong, China precisely, which is a gradually process to others country to officially accept cryptocurrency as a means of payment and trading in the country in which in the next Bull Run movement is around the corner with the expansion acceptability of Bitcoin and Ethereum ETF approved we skyrocket the cryptocurrency market in time coming.

[yazher]

Including altcoins does not mean anything, the news is also about bitcoin ETF and it can stays in bitcoin discussion or it can be moved to legal.
It is good to read this kind of new. I hope that more countries will follow this and approve bitcoin ETF.

I'm hoping more country follow their footstep as well including those countries that have been hostile against Bitcoins throughout the years because they want to prevent further escalations of the numbers of scammers in their countries, now that everything has been cleared out, it's about time they give a green flag and not to get left behind by other countries because along with approving it, more job opportunities will come and more money for their country and all they need to do is just to protect those platforms and companies that choose their countries to run their crypto business, as long as it's not a scam, money awaits for those countries who shelter these huge businesses.

[Morpheus_Exodus]

It's true that while mainland China has taken a more restrictive stance on cryptocurrencies, other countries have been more open to embracing them. This acceptance and adoption by various countries can indeed have a positive impact on Bitcoin's price, as it expands the pool of potential buyers and investors. The increasing accessibility and acceptance of Bitcoin in places like Hong Kong can create more demand and contribute to its price appreciation over time. However, it's essential to consider the broader market factors, regulatory developments, and investor sentiment that can also influence Bitcoin's price movements.

[ChiBitCTy]

Shoot, I saw this online a few weeks ago and completely forgot that I've got a few buddies out in HK.  I just emailed one of them asking if he might be able to source either some newspapers or magazines discussing this breakthrough for HK.  So fingers crossed he can get me some cool keep-sake collectibles regarding this historical event. 

I can't imagine China is happy about this!

[Catenaccio]

Shoot, I saw this online a few weeks ago and completely forgot that I've got a few buddies out in HK.  I just emailed one of them asking if he might be able to source either some newspapers or magazines discussing this breakthrough for HK.  So fingers crossed he can get me some cool keep-sake collectibles regarding this historical event.  

I can't imagine China is happy about this!

China mainland government try to create pressure on Hong Kong and try to gradually change laws, regulations and government structure in Hong Kong. Hong Kong has many years live in a world of freedom and their citizens seriously fight to maintain it.

With latest things happen in Hong Kong, China mainland government would feel unhappy but I believe they will not stop their strategy to invade Hong Kong and bring it back to their control. Coming years or decades will be so tough and challenging for Hong Kong under threats from China mainland.

Approval of Bitcoin Spot ETF in Hong Kong is good for their citizens and Bitcoin community. They are contributing another success for Bitcoin and its adoption. It can set up good foundation for other countries to follow.