Bloomberg analyst: Hong Kong spot Bitcoin ETF fund inflows are expected to reach US$500 million
Eric Balchunas, a senior ETF analyst at Bloomberg, posted on social media that the Hong Kong spot Bitcoin ETF has been approved but has not yet been launched. There are rumors that it will be launched next week. It is expected that the Hong Kong spot Bitcoin ETF will not have much flow, and the estimated scale of funds inflow may be $500 million, for the following reasons: 1. The Hong Kong ETF market is small, with only $50 billion, and mainland users still cannot purchase it, at least not officially. 2. The three approved spot Bitcoin ETF issuers (Bosera, Huatai, and CSOP) are relatively small in scale, and there are no large institutions like BlackRock participating yet. 3. The liquidity/efficiency of the underlying ecosystem is low, which may lead to significant price differences and Prem discounts for these ETFs. 4. Trading fees may be 1-2%, which is higher than US spot Bitcoin ETFs.
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