Helene is a New York-based reporter covering Wall Street, the rise of the spot bitcoin ETFs and crypto exchanges. She is also the co-host of CoinDesk's Markets Daily show. Helene is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.
Mainland Chinese investors won't likely get the green light to buy the newly launched Hong Kong-listed spot bitcoin ETFs, Bloomberg Intelligence analysts reported.Hong Kong's spot bitcoin ETFs are a positive for the industry overall, but given its relatively small market may not have a huge impact. Bloomberg analysts expects roughly $1 billion inflows in the first two years.
The report isn't a huge surprise given that China has one of the globe's most restrictive stances on crypto after having banned the trading and mining of tokens in the country in 2021. The spot bitcoin ETFs in the U.S. have seen unprecedented inflows within the first few months of existence, but while the new development in Hong Kong is certainly a positive for the industry overall, the city’s ETF market itself isn’t big enough for the launch to have a tremendous impact., the scale of the U.S and Hong Kong ETF markets are remarkably different, and he argued that flows are likely not going to surpass $1 billion combined given the differences in scale.
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