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Bitcoin spot ETFs to receive green light in Hong Kong in April

According to a recent Reuters report, Hong Kong will become the first city in Asia to launch Bitcoin spot ETFs. Notably, initial approvals for these ETFs are expected to be announced next week, significantly exceeding industry expectations for these types of launches this year.

The revival proposed by Hong Kong

According to the report, the decision to introduce spot Bitcoin ETFs comes as Hong Kong seeks to revive its status as a preeminent financial center, in which pandemic-related restrictions have been somewhat eased, China’s economic slowdown and tensions between China and the United States.

By adopting cryptocurrency investment vehicles, Hong Kong aims to attract new global investments and take cryptocurrency adoption to new heights.

Adrian Wang, CEO of Metalpha, a Hong Kong-based crypto asset manager, emphasized the importance of introducing Bitcoin ETFs in Hong Kong, noting the potential for greater global investment and broader adoption of cryptocurrencies.

This move follows the success of the United States, which launched the first US-listed spot Bitcoin ETFs in January and attracted approximately $12 billion in net inflows, as Bitcoinist previously reported.

While the Hong Kong Securities and Futures Commission (SFC) and the three Chinese firms declined to comment, the Hong Kong units of China Asset Management and Harvest Fund Management recently obtained approval from the SFC to manage portfolios with investments greater than 10% in virtual markets. asset.

These parent companies are major mutual fund companies in China, each managing more than 1 billion yuan ($138 billion) in assets.

Bitcoin Futures Success Fuels Interest in Spot Bitcoin ETFs

Cryptocurrency trading is prohibited in mainland China. However, Chinese offshore financial institutions have shown great interest in participating in the development of crypto assets in Hong Kong.

The city had already approved ETFs for cryptocurrency futures in late 2022, with the CSOP Bitcoin Futures ETF being the largest. It has accumulated around $120 million in assets under management, up sevenfold since September 2023.

In addition to the aforementioned asset managers, Hong Kong-based Value Partners has expressed its exploration of launching a spot Bitcoin ETF, although it has not revealed whether an official application has been filed.

Additionally, at least four asset managers from mainland China and Hong Kong, including China Asset Management, Harvest Fund Management and Bosera Asset Management, have filed applications to launch Bitcoin spot ETFs.

As the regulatory landscape evolves, the introduction of spot Bitcoin ETFs in Hong Kong is expected to pave the way for greater investment opportunities and contribute to the growth and maturation of the global cryptocurrency market.

At the time of writing, the market-leading cryptocurrency has witnessed significant price volatility. It approached its all-time high on Monday and hit a high of $72,600. However, it encountered upper level resistance, falling towards the $67,600 range. This represents a 3.5% reduction in the last 24 hours alone.

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Bitcoin Investment Cryptocurrency Investment Cryptocurrency news Uncategorized

Where is the safest place to invest in bitcoin?

Best Places To Buy Bitcoin

  • Kraken: Most Established Bitcoin Exchange.
  • Coinbase: Safest Way To Buy Bitcoin.
  • Gemini: Best Bitcoin Exchange For All 50 States.
  • Nexo: Best for daily payments.
  • Binance: one of the safest cryptocurrency exchanges available.
  • OKX: Exchange Trading Experience.

Safest Place to Invest in Bitcoin

Bitcoin Suisse Club

How to invest?

Investing in our website is simple. First of all you need to fill deposit form (available here) providing your Bitcoin wallet address where you wish to receive investment profit, your email address and amount of your deposit. Remember to carefully provide deposit amount because in the next step (payment form) you will got special deposit address where bitcoins need to be send WITH EXACT AMOUNT shown on payment form. Thats all! After sending bitcoins you will se information that transaction is completed and you can go back or close page.

How to get profit?

Profit payouts are automatically paid after 5 hours, you do not need to do anything. There may be some delay when profit arrives at your wallet because of network confirmations (that could take up to 20 minutes).

Why your new investment is not visible?

After making investment and payment your deposit transaction will be visible after 6 confirmations from bitcoin network. Remember that transactions sent with low provision will receive confirmations slowly, so we recommend to always give proper provision according yo your Bitcon Wallet (eg. Electrum, Armory or any ither such as online wallets, stock exchanges wallets etc.).

What means Bitcoin Doubler profit (5000% profit) in 5 hours?

It means that you will receive profit that is two times greather that your deposit. For example, when you make deposit of 0.01 BTC you will receive 0.5 BTC after 5 hours. You will also receive some more satoshi according to payment form. Other words – you will receive 50x investment in time of 5 hours.

How much can you invest?

There is limit of maximum 5 Bitcoin per transaction, minimum investment limit is 0.005. Please remember that transactions less than 0.005 BTC may not be credited . There is no transactions limits per user – you can make as many transactions as you want (every with maximum 5 BTC limit) – that gives you opportunity to invest more than 5 Bitcon in short period of time.

What is “status” shown on your investitions list?

Every user that make much transactions or use some promotions made by us can increase hes status what gives faster profit payouts, more percent profit and access to other investment options.

Account

all of your investments are stored on your browser so be sure that you have cookies enabled (cookies are required to using our website).

Investment method

We accept only Bitcoin (BTC) and pay profit in this Cryptocurrency, any other crypto or FIAT currency are not used.

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Bitcoin Cryptocurrency news

Bitcoin gives mixed signals: here are the key events to watch this week

Bitcoin (BTC) is back below $70,000 after momentarily surpassing that psychological price range on April 7. This price action suggests that the bears are still in control, which could remain the case throughout this week. As the tug-of-war continues, here are some key events to keep an eye on.

Is the pre-halving pullback over?

Crypto analyst Rekt Capital previously highlighted the phases of the Bitcoin halving, including the pre-halving pullback. He noted that the price of Bitcoin usually drops between 28 and 14 days before the Halving event. With around 12 days left until the halving event, the pre-halving pullback is believed to be over.

However, considering that the cycle has already proven to be unique, especially with BTC hitting a new all-time high (ATH) ahead of the Halving, investors will no doubt be wary of the leading cryptocurrency making one last price correction this fall week. . In one of his recent posts on X (formerly Twitter), Rekt Capital also admitted that it is still unclear whether the bottom has been reached or not.

Whale activity this week will also give an idea of the current sentiment in the market as the Halving event approaches. Significant purchases of the leading cryptocurrency suggest that Bitcoin investors believe the worst is over and are already positioning themselves for a potential parabolic rise in prices once the halving occurs.

If the whales indicate bullish sentiment, it also means that the market has likely moved into the next halving phase, which, according to Rekt Capital, is the “reaccumulation” phase. On the other hand, a wave of BTC selling this week will strengthen the bearish narrative currently affecting BTC and suggest that the pre-halving recovery bottom has not yet arrived.

Bitcoin Spot ETF and the Derivatives Market

The net flows recorded by Bitcoin Spot ETFs this week will also be instrumental in determining the current market sentiment. They have experienced mixed inflows over the past two weeks, something that gave a more pessimistic than optimistic outlook considering the amount of net inflows they were recording so far.

However, things could improve again this week, as BlackRock expanded the list of authorized participants for its iShares Bitcoin Trust (IBIT) last week. These participants include notable names such as Goldman Sachs, Citadel and Citigroup. Therefore, a significant amount of new money could flow into the IBIT ETF this week.

Meanwhile, the crypto community will be keeping an eye on the derivatives market as, depending on market volatility, many positions could be eliminated this week. Crypto analyst Ali Martinez recently revealed that nearly $72 million could be liquidated if Bitcoin recovers to $70,875. If that happens, it could be the first step in helping the bulls regain control of the market.

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Bitcoin Bitcoin ETF

US Bitcoin ETFs Bounce Back With $569.4M in Net Inflows After Initial Dip

Spot bitcoin exchange-traded funds (ETFs) concluded the week on an upbeat note, securing $203 million in positive inflows on Friday, as per the latest data. Despite an initial setback of $84.7 million in net outflows on April 1, the ETFs have since rebounded, gathering $569.4 million in net inflows.

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cryptocurrency exchange Cryptocurrency news

Crypto Prices Today April 5: Bitcoin At $67K, Ethereum Nears $3300

The top crypto prices today witnessed a mixed action as the Bitcoin (BTC) price rebounded above the $67,000 level. In addition, the Ethereum price neared the $3,300 mark. Meanwhile, other top altcoins, such as XRP and Solana (SOL) tumbled notably while Cardano (ADA) recovered.

Major Crypto Prices Today

The Bitcoin price was up by 3.28% reaching $67,663.81 at the time of writing on Friday, April 5. On the other hand, it’s trading volume jumped 11.53% to $35.12 billion in the last 24 hours. Whilst, the crypto boasted a market capitalization of $1.33 trillion.

Looking at altcoins, the Ethereum price plunged 0.78% to $3,284.74 at press time with a market valuation of $394.55 billion. Whilst, ETH saw its trading volume drop by 27.98%, reaching $14.90 billion. Meanwhile, the Binance Coin (BNB) price defied the bearish sentiment and gained 3.77%, reaching $577.48. On the contrary, its 24-hour trade volume slumped by 3.67% to $2.26 billion.

The Solana price approached a drop below the $190 mark again. The Solana price declined 3.34%, settling at $182.11. In addition, SOL witnessed a 15.94% crash in trade volume to $3.81 billion in the last 24 hours. Whilst, the XRP price extended lower than the $0.59 level. The XRP price recorded a slump of 1.94%, reaching $0.5879. On the other hand, XRP’s trading volume dipped 5.83% to $2.00 billion.

Meanwhile, the Cardano price tumbled 2.72% to $0.5706 today. Whilst, ADA recorded a 26.08% decline in its 24-hour trading volume, settling at $466.28 million. As the top crypto prices crashed today, the meme coin arena followed suit. The Dogecoin price was down by 5.94% to $0.1743 while its rival, Shiba Inu price dipped by 3.60% and traded at $0.00002616.

Also Read: Bitcoin (BTC) Price: Is Long-Term Holder Selloff A Blessing In Disguise?

Top Crypto Prices Today Are
Pepe Coin (PEPE)

The Pepe Coin (PEPE) crypto, a hyped Solana meme coin, didn’t see much change in price today. At press time, the Pepe Coin price was down by 0.26% to $0.000006737 with a market valuation of $2.83 billion. In addition, the 24-hour trade volume for PEPE slumped 16.19% to $510.13 million.

Pendle Soars 28%

Pendle (PENDLE), an Olympus Pro ecosystem token, recorded an impressive surge of nearly 28% and ranked as the top crypto gainer today. The Ethena price was up by 27.64% to $6.27 at the time of reporting. Moreover, its trade volume skyrocketed by a staggering 229.37% and stood at $332.14 million. Furthermore, the Pendle crypto recorded a new all-time high of $6.63 amid the rally today.