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Hong Kong regulators have approved Bitcoin and Ethereum exchange-traded fund (ETF) applications, but Bloomberg ETF analyst Eric Balchunas predicts the local ETF market may not perform as well as the U.S. due to a lack of major players and the possibility of higher fees. 📉 According to Balchunas, the Hong Kong Bitcoin and Ether ETF market could attract just $500 million in inflows versus more than $15 billion from BlackRock's spot Bitcoin ETF product in the US alone. 💰 The Hong Kong Securities and Futures Commission (SFC) granted in-principle approval for spot Bitcoin and Ethereum ETF products from China Asset Management, Harvest Global Investments and Bosera Asset Management in partnership with HashKey Capital on April 15. However, the absence of major players in the Hong Kong ETF market and the possibility of these issuers charging high fees could hinder demand for the products, according to Balchunas. Balchunas noted that the Hong Kong spot Bitcoin ETF market could see a boost if larger players get involved and mainland Chinese investors are allowed access to the product. Although the U.S. spot Bitcoin ETF market is larger than Hong Kong's, Hong Kong may have an advantage over the U.S. by being one of the first regions to have an approved spot Ethereum ETF.

Hong Kong regulators have approved Bitcoin and Ethereum exchange-traded fund (ETF) applications, but Bloomberg ETF analyst Eric Balchunas predicts the local ETF market may not perform as well as the U.S. due to a lack of major players and the possibility of higher fees. 📉
According to Balchunas, the Hong Kong Bitcoin and Ether ETF market could attract just $500 million in inflows versus more than $15 billion from BlackRock's spot Bitcoin ETF product in the US alone. 💰
The Hong Kong Securities and Futures Commission (SFC) granted in-principle approval for spot Bitcoin and Ethereum ETF products from China Asset Management, Harvest Global Investments and Bosera Asset Management in partnership with HashKey Capital on April 15.
However, the absence of major players in the Hong Kong ETF market and the possibility of these issuers charging high fees could hinder demand for the products, according to Balchunas.
Balchunas noted that the Hong Kong spot Bitcoin ETF market could see a boost if larger players get involved and mainland Chinese investors are allowed access to the product.
Although the U.S. spot Bitcoin ETF market is larger than Hong Kong's, Hong Kong may have an advantage over the U.S. by being one of the first regions to have an approved spot Ethereum ETF.