Weng Xiaoqi: Hong Kong is closely discussing the preparation of Ethereum spot ETFs, and the first batch of approved Bitcoin ETFs may be less than 11

Odaily Planet Daily reported that Weng Xiaoqi, CEO of Hong Kong’s licensed virtual asset trading platform HashKey Exchange and COO of HashKey Group, said that one of the reasons for the rapid rise in the current round of virtual asset trading market is driven by the US Bitcoin spot ETF, but the These products are currently mainly led by European and American investment institutions. The lack of related spot ETF products in Asia may expose Asian investors to the risk of “lifting the sedan” for U.S. capital. That is, “spot ETFs will be launched half a year later, which also means that U.S. capital will be half a year behind.” If you enter the market, you will face higher purchase costs and entry points, and you will have to bear the risk of being locked up by US capital." He revealed that in view of the above situation, Hashkey is working with its partners to promote the listing of trading products such as Hong Kong spot ETFs and derivatives as soon as possible. He believes that Hong Kong, as an established global financial center, will attract a large amount of funds once it opens Bitcoin spot ETF trading and become a major player in Asia. The preferred entrance to the virtual asset market for capital deployment. Regarding the specific listing number of the first batch of Bitcoin spot ETFs in Hong Kong, Weng Xiaoqi pointed out that this needs to be determined and authorized by the China Securities Regulatory Commission. However, considering that the United States has authorized the trading of 11 Bitcoin spot ETFs, it is expected that the first batch of ETFs listed in Hong Kong may be less than this number. Considering that the capital scale of the Hong Kong stock market is quite different from that of the United States, it is believed that concentrated liquidity will limit Bitcoin The number of currency spot ETF listings is more beneficial to the development of Hong Kong. He emphasized that Ethereum spot ETF is currently the most anticipated product by global crypto investors. Hong Kong’s Ethereum spot ETF is under intensive discussion and preparation. If related products can be launched earlier than the United States, Hong Kong will have the opportunity to compete in the global crypto market. , from followers to leaders. (Singtao.com)