Hong Kong is preparing to welcome the first Bitcoin Spot ETFs, with regulatory approval expected next week. According to Reuters, four companies have applied to launch these products: CSOP Asset Management (tradable from April 18), Harvest Fund Mannagement (tradable from April 25), Bosera Asset Management (tradable from May 2) and Valkyrie Investments (negotiable on May 9th).
Therefore, if the approvals are confirmed, BTC Spot ETFs could start as early as this month on the Hong Kong stock exchange and it would be a historic event for the cryptocurrency market, which could once again be influenced by large inflows of institutional capital.
Meanwhile, in the US, Van Eck, a major ETF issuer, said he was pessimistic about the likelihood of an Ethereum Spot ETF being approved by May. Other analysts seem to have the same feelings.
Jean-Marie Mognetti, CEO of CoinShares, confessed that he does not expect the ETH spot ETF to be approved in 2024.
Balchunas, a Bloomberg analyst, lowered the probability of approval by May from 70% to 30% due to the indifference and silence that seems to come from the SEC, which has not yet provided any comments or feedback (positive or negative). The approach seems to be totally different from what happened with Bitcoin.
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