Sokipiriye Dokubo
Anticipated to debut in April, the newly sanctioned Hong Kong Spot Bitcoin ETFs are poised for launch, with expectations set by sub-custodian and infrastructure service provider OSL. According to reports, the digital solutions platform informed The Block of the imminent arrival of these products.
OSL suggests that the launch timeline should remain intact, barring any complications in the interaction between the issuer and regulator. Moreover, China Asset Management (ChinaAMC) foresees significant demand for this Bitcoin investment avenue.
With the success of similar products in the US earlier this year—where 11 Spot Bitcoin ETFs garnered historic inflows shortly after their launch—there’s optimism that the Hong Kong market could mirror such triumphs. The launch of Spot Bitcoin ETFs in April aligns with this anticipation, with expectations for a swift initiation of trading post-approval.
Patrick Pan, Chairman of the Board and CEO of OSL, indicated that reports hint at a late April launch for the Spot Bitcoin ETF, potentially followed by a spot Ethereum ETF. While all parties work diligently to finalize the process, exact dates remain unconfirmed.
Pan views the approvals as a positive step towards launching spot crypto ETFs, sparking heightened anticipation regarding the performance of these approved ETFs.
However, Erich Balchunas from Bloomberg offers a more cautious perspective, warning against expecting significant flows, particularly due to restrictions on Chinese investors’ access to these products.