Bloomberg ETF Analyst: Hong Kong Bitcoin Spot ETF Inflows May Reach $500 Million
ChainCatcher news, Bloomberg ETF analyst Eric Balchunas posted on social media that the Hong Kong Bitcoin spot ETF has been approved in principle, but has not yet been launched. It is expected that the Hong Kong Bitcoin spot ETF will not have much traffic (some estimate $25 billion, which is crazy), and the estimated inflow may be around $500 million for the following reasons:
- The Hong Kong ETF market is small, only $50 billion.
- The three approved spot Bitcoin ETF issuers (Bosera, Huaxia, and Harvest) are relatively small. Currently, there are no large institutions like BlackRock involved.
- The underlying ecosystem's liquidity/efficiency is low = these ETFs may experience larger spreads and Prem discounts.
- Trading fees may be 1-2%, which is higher compared to U.S. spot Bitcoin ETFs.
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