According to a research report released by Matrixport, a cryptocurrency asset service provider, on April 13th, the Bitcoin spot ETF listed in Hong Kong is expected to attract up to $25 billion in funds from mainland Chinese investors through the "southbound channel". The report pointed out that Chinese investors can purchase up to $70 billion worth of Hong Kong-listed stocks annually through the southbound channel, but the actual inflow in the past three years has been lower than the quota, ranging from $15 billion to $25 billion. This means that there is still HKD 100 billion to HKD 200 billion (approximately $12.5 billion to $25 billion) of idle quota available for Bitcoin ETF products. Matrixport stated that the recent news that the largest offshore RMB market in the world, Hong Kong, will approve Bitcoin ETFs, coupled with the strong interest of mainland Chinese investors in diversified investments and the continuous decline of the RMB to USD exchange rate, has increased the demand for hedging. It is reported that several mainland Chinese fund companies have applied to issue spot ETF products through their Hong Kong subsidiaries. Earlier, according to Bloomberg, Hong Kong is expected to approve Bitcoin and Ethereum spot ETFs as early as next Monday.