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Author Topic: Bitcoin ETFs coming to China?  (Read 161 times)
Bulltard (OP)
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May 16, 2024, 09:25:03 AM
 #1

https://weekly.caixin.com/2024-05-11/102195119.html?p0#page2

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Caixin reported that most of the issuer headquarters of Hong Kong cryptocurrency ETFs are under the direct leadership of Beijing’s regulatory authorities. Therefore, experimenting with cryptocurrency in HK can be regarded as in line with China’s national strategy. In the future, it does not rule out opening up to hundreds of millions of cryptocurrency investors in mainland China



it will probably happen some day. question is when.
for now, the volume of those HK etfs is very low... but if they're just a test before  the big boys come in, hell i'll take it.
https://sosovalue.xyz/assets/etf/hk-btc-spot
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May 16, 2024, 09:44:41 AM
 #2

Not surprised that CCP has something to do with the Hongkong ETF, don't expect that ETF to happen in the mainland, bitcoin is like gambling to China, they're hypocritically repulsed by it but they can't ignore the value and benefit that you can get out of it that they've got an administrative regions for gambling and they build their casinos outside the mainland, that's the same thing with this one and that's why they also want to invade Taiwan, more regions outside of China to do hypocritical stuff.
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May 16, 2024, 09:49:28 AM
 #3

Not surprised that CCP has something to do with the Hongkong ETF, don't expect that ETF to happen in the mainland, bitcoin is like gambling to China, they're hypocritically repulsed by it but they can't ignore the value and benefit that you can get out of it that they've got an administrative regions for gambling and they build their casinos outside the mainland, that's the same thing with this one and that's why they also want to invade Taiwan, more regions outside of China to do hypocritical stuff.
yeah that is why they only kick the Mining but not the whole bitcoin because they knew that their
people or even their government will benefits from this and talking about this ETF coming to china
then lets see what this can bring when the fact is that we are still waiting for what good it can
bring after the halving in which we normally see in our market with times like this.

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May 16, 2024, 10:41:42 AM
 #4

~
yeah that is why they only kick the Mining but not the whole bitcoin because they knew that their
people or even their government will benefits from this and talking about this ETF coming to china
then lets see what this can bring when the fact is that we are still waiting for what good it can
bring after the halving in which we normally see in our market with times like this.
They didn't totally ban or outright ban mining, the CCP have bitcoin farms in the country, what they don't like is the idea that there's such a thing for their people as individual freedom, that's not a thing that would make them happy. The Party wants everything for themselves and close to nil to the billions of people in the Mainland, they can't care less as long as Mao's decrepit legacy's is intact, that's where the CCP will try to go.
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May 16, 2024, 11:21:23 AM
 #5

Yes, the lounch Actually, I was surprised by the news of this ETF in China. The reason is because China's position in crypto they officially prohibit. But with this ETF filing, will they remove that rule? But from the sources I read the country will not revise the rules, so investors from China will not be able to invest in this ETF. Strange seemingly, who would trade in Hong Kong ETFs?

Source:
1. https://cointelegraph.com/news/hong-kong-bitcoin-etfs-mainland-china
2. https://www.coindesk.com/markets/2024/05/13/hong-kong-bitcoin-and-ether-etfs-see-39m-outflows-on-monday-farside-investors/

R


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pakhitheboss
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May 16, 2024, 11:53:11 AM
 #6


Caixin reported that most of the issuer headquarters of Hong Kong cryptocurrency ETFs are under the direct leadership of Beijing’s regulatory authorities. Therefore, experimenting with cryptocurrency in HK can be regarded as in line with China’s national strategy. In the future, it does not rule out opening up to hundreds of millions of cryptocurrency investors in mainland China


The simple truth is that China does not want cryptocurrencies in mainland but it doesn't want to miss the opportunity. That is why it is using it's satellite HK to deal with everything related to cryptocurrencies. What this news media is discussing is just speculations and nothing of that will happen in the future in the mainland. The CCP has placed a ban on everything related to crypto still they are trying to lure the community with friendly rules and regulations. They are benefitting with this approach then why will they change their policies, you should question yourself?

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May 16, 2024, 12:19:33 PM
 #7

Hongkong? Yes, I think Bitcoin ETF has been approved already and has been going on for the last 2 weeks if I'm not mistaken.

China? hmm, I doubt it, we've seen their anti-Bitcoin stance for many years already and I don't think that a authoritarian like them will allow their people to thrive on crypto and get the financial freedom that their population will have.

Remember then even their richest person, in Jack Ma was losses all his money after criticizing the Chinese government.

R


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May 16, 2024, 12:31:38 PM
 #8

Therefore, experimenting with cryptocurrency in HK can be regarded as in line with China’s national strategy. In the future, it does not rule out opening up to hundreds of millions of cryptocurrency investors in mainland China

Anyone who has seen and actually paid attention to what happened in Hong Kong would know that all the so-called freedom is just a tiny carrot before 100 sticks come biting, China will never allow what is happening in the stock market to happen in Shanghai, if it would have allowed those experiments we wouldn't have all these major differences, do some of you know that day trading is actually banned in China while it has been allowed for 20 years in HK?

But anyhow, what's so great for those ETF again?
What do those ETF have to do with a decentralized p2p currency and being your own bank?
Oh, yeah, it has to do with money!





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May 16, 2024, 12:56:45 PM
 #9

AFAIK people who live in China mainland can buy Bitcoin in Hong Kong, so it's not really a new thing to see China mainland's citizen can own Bitcoin. As long as the ETFs or Bitcoin acceptance was happen on Hong Kong instead of China mainland, I don't see anything bullish from this news.

People who live in China mainland that own Bitcoin or ETFs might have a problem since their banks restrict funds from Bitcoin.
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May 16, 2024, 01:22:30 PM
 #10

Not surprised that CCP has something to do with the Hongkong ETF, don't expect that ETF to happen in the mainland, bitcoin is like gambling to China, they're hypocritically repulsed by it but they can't ignore the value and benefit that you can get out of it that they've got an administrative regions for gambling and they build their casinos outside the mainland, that's the same thing with this one and that's why they also want to invade Taiwan, more regions outside of China to do hypocritical stuff.
I know it is still quite a long time to go but looking back at China and Hong Kong’s history we all know that Hong Kong’s time is limited and soon they will just be under China. I do wonder how it will play out if China has banned cryptocurrencies and does not encourage participation in it meanwhile Hong Kong is regarded as one of the first asian countries to implement etf crypto.
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May 16, 2024, 01:45:29 PM
 #11

AFAIK people who live in China mainland can buy Bitcoin in Hong Kong, so it's not really a new thing to see China mainland's citizen can own Bitcoin. As long as the ETFs or Bitcoin acceptance was happen on Hong Kong instead of China mainland, I don't see anything bullish from this news.
People who live in China mainland that own Bitcoin or ETFs might have a problem since their banks restrict funds from Bitcoin.


If what you think is true, then the HK spot BTC ETF would have already recorded massive inflows of money from mainland China, and no one actually mentions it, given that the amount of money they have in HK is almost negligible compared to the US. Nothing can surprise me when it comes to China, but I think that Bitcoin has finished its story there, at least for a long time.

A lot of people are banking on wealthy Chinese locals, but, officially, you cannot buy this ETF if you're a mainland Chinese investor,” said Eric Balchunas, a senior ETF analyst at Bloomberg. That’s because it must be listed on something called the Stock Connect, which allows Chinese citizens to invest in certain Hong Kong ETFs, and vice versa. “This will never be available there,” says Balchunas.

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May 16, 2024, 02:14:06 PM
 #12

Therefore, experimenting with cryptocurrency in HK can be regarded as in line with China’s national strategy. In the future, it does not rule out opening up to hundreds of millions of cryptocurrency investors in mainland China
A lot of things that goes on in China is difficult to understand, but i do not agree that this is an indication that mainland China will accept BTC in the form of an etf or by lifting the numerous, and often confusing bans they have placed on crypto in their country. It is not new to read threads like this, were people believe that the policies the governmnet of China has about BTC and crypto could be changing for the better, but it always turns out to be false, just like this present case will.

The etf approval in HK isn't even a big one, and people should not expect the price to pump like it did in reaction to the approval in the U.S, the inflows are very different and incomparable.

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May 16, 2024, 02:16:19 PM
 #13

Bitcoin ETFs are coming to China, that's great news, but I don't think it's coming anytime soon, the reason other than still in preparation as mentioned in the news, for others is to see the reception from the local government is still very strict in terms of cryptocurrency activity to date, if it has shown signs of being finished and ready, it will indirectly increase wider acceptance.



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May 16, 2024, 02:30:04 PM
 #14

Not surprised that CCP has something to do with the Hongkong ETF, don't expect that ETF to happen in the mainland, bitcoin is like gambling to China, they're hypocritically repulsed by it but they can't ignore the value and benefit that you can get out of it that they've got an administrative regions for gambling and they build their casinos outside the mainland, that's the same thing with this one and that's why they also want to invade Taiwan, more regions outside of China to do hypocritical stuff.
The law still restricts citizens of mainland China from investing in the Hong Kong Bitcoin ETF but the approval of this service is an indication that China is gradually shifting its unfriendly position. This is because China politically and economically controls Hong Kong. I share OP's views that China might soon unban Bitcoin mining and other crypto services.

My stance is backed by the fact that most of the companies engaged in the ETF have their headquarters in Mainland China. So I suspect that they using Hong Kong as an experiment on the ETF through these company's subsidiaries. The collapse of the real estate sector in China affected the country's economic performance negatively, so they are seeking other means to improve the economy.

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May 16, 2024, 09:03:14 PM
 #15

Yes, the lounch Actually, I was surprised by the news of this ETF in China. The reason is because China's position in crypto they officially prohibit. But with this ETF filing, will they remove that rule? But from the sources I read the country will not revise the rules, so investors from China will not be able to invest in this ETF. Strange seemingly, who would trade in Hong Kong ETFs?

Source:
1. https://cointelegraph.com/news/hong-kong-bitcoin-etfs-mainland-china
2. https://www.coindesk.com/markets/2024/05/13/hong-kong-bitcoin-and-ether-etfs-see-39m-outflows-on-monday-farside-investors/

I think this is what will likely happen, since we all know that bitcoin ETF is not bitcoin directly, China may not shift their ground on going against bitcoin or crypto as it has always been, but they may likely consider the use of bitcoin ETF for some of their commodity without having anything being changed on their initial ground which kicked against crypto, the exchange traded fund will be controlled and regulated by the government while bitcoin cannot, but i want to still believe there is more to expect from this with China

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May 16, 2024, 09:45:16 PM
 #16

Not surprised that CCP has something to do with the Hongkong ETF, don't expect that ETF to happen in the mainland, bitcoin is like gambling to China, they're hypocritically repulsed by it but they can't ignore the value and benefit that you can get out of it that they've got an administrative regions for gambling and they build their casinos outside the mainland, that's the same thing with this one and that's why they also want to invade Taiwan, more regions outside of China to do hypocritical stuff.
The law still restricts citizens of mainland China from investing in the Hong Kong Bitcoin ETF but the approval of this service is an indication that China is gradually shifting its unfriendly position. This is because China politically and economically controls Hong Kong. I share OP's views that China might soon unban Bitcoin mining and other crypto services.

My stance is backed by the fact that most of the companies engaged in the ETF have their headquarters in Mainland China. So I suspect that they using Hong Kong as an experiment on the ETF through these company's subsidiaries. The collapse of the real estate sector in China affected the country's economic performance negatively, so they are seeking other means to improve the economy.

It is only a matter of time before China change their stance towards bitcoin and publicly announced they are open to this market again. They have seen clearly that even if they banned btc or crypto, its market still continue to proliferate outside their country. So even if they say they are one of the powerhouse, they have no control of what will happen to cryptocurrency market. And that we can't deny because btc continues its adoption when they shutdown their doors to this market. They thought the world of crypto will stop but the opposite happens.

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May 16, 2024, 11:47:30 PM
 #17

I am in belief before that it was entirely Hong Kong's own decision to do these Bitcoin ETFs and despite that they're a SAR of China, they can make their own decisions. But anyway, that's how the connection goes of theirs to China and they're still being held on her neck by the CCP. This is going to break the random policies that they're having towards Bitcoin and mining that we used to hear and read in the news about them banning both things. Well, wherever money is, therefore they'd go as well just as the BTC spot ETFs.

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May 17, 2024, 01:36:48 PM
 #18

I am in belief before that it was entirely Hong Kong's own decision to do these Bitcoin ETFs and despite that they're a SAR of China, they can make their own decisions. But anyway, that's how the connection goes of theirs to China and they're still being held on her neck by the CCP. This is going to break the random policies that they're having towards Bitcoin and mining that we used to hear and read in the news about them banning both things. Well, wherever money is, therefore they'd go as well just as the BTC spot ETFs.
We all know how notorious China is for wanting to control their citizens in all kinds of aspects. Their internet access is literally restricted so we should not be surprised that they do not want their citizens to be participating in a currency that does not allow them, the government, to interfere with anything crypto-related.

I am just glad that chinese citizens have the option still to participate in crypto in Hong Kong and a lot freer than most countries may I even add.

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May 17, 2024, 01:49:24 PM
 #19

I am just glad that chinese citizens have the option still to participate in crypto in Hong Kong and a lot freer than most countries may I even add.
No they cannot,[1] citizens in mainland China cannot participate in any form of crypto trading going on in Hong Kong, including the recently launched etf's. Trading crypto is banned in mainland China, and there are still a few other crypto bans in China that so many of us do not know, or that is confusing to us because of how the country runs. However, none of this will be lifted because of what is going on in HK, and citizens in mainland China cannot take part in it.

[1] https://cointelegraph.com/news/hong-kong-bitcoin-etfs-mainland-china
 

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May 17, 2024, 01:55:19 PM
 #20

Hongkong? Yes, I think Bitcoin ETF has been approved already and has been going on for the last 2 weeks if I'm not mistaken.

China? hmm, I doubt it, we've seen their anti-Bitcoin stance for many years already and I don't think that a authoritarian like them will allow their people to thrive on crypto and get the financial freedom that their population will have.

Remember then even their richest person, in Jack Ma was losses all his money after criticizing the Chinese government.
But technically, it's not China that's approved of ETF yet, Hong Kong is still a separate entity, kind of like an administrative region of China like Macau. They will never allow this in the mainland China, just like they've been doing with gambling in the mainland, there's only like the lottery there so I'm sure that the mainland would see a bitcoin ETF. He didn't lose any of his money, he just disappeared for awhile for "reeducation", that's what the Chinese government does with it's billionaires, they know that money can be a powerful tool against people that are trying to control more people so they make sure that these billionaires are always acting right or in accordance to what the Chinese government wills, that's been a thing for many billionaires.
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