“Anticipating China’s bid commencement: Can the introduction of Hong Kong Bitcoin ETFs ignite the halving rally?”

Commentators suggest that the potential approval of the first batch of spot Bitcoin exchange-traded funds (ETFs) in Hong Kong could have a major impact on Bitcoin’s halving rally. The Securities Regulatory Commission of Hong Kong (SFC) is reportedly expediting the approval process for four spot Bitcoin ETFs, which could attract increased buying demand for Bitcoin from retail and institutional investors in Hong Kong. The approval is expected to be granted by April 15, just days before the Bitcoin halving event, which will reduce the supply issuance rate of BTC. Crypto entrepreneur Lark Davis predicts that if the initial spot Bitcoin ETFs are approved, it will take approximately two weeks to finalize the ETF listing procedures on the Hong Kong Stock Exchange. Herbert Sim, COO of crypto exchange Websea, believes that the approval of spot Bitcoin ETFs in Hong Kong will contribute to the post-halving rally of Bitcoin, along with the institutional demand and inflows created by major US ETF issuers such as BlackRock. Bitcoin Munger, a popular crypto commentator, states that large investors holding at least 10,000 BTC are accumulating more Bitcoin in anticipation of the approval. Previous research has shown that Bitcoin ETFs accounted for about 75% of new investment in Bitcoin when it surpassed $50,000. The net Bitcoin ETF inflows have closely correlated with Bitcoin’s price action, according to Thomas Fahrer, co-founder of Apollo. It is important to note that this article does not provide investment advice and readers should conduct their own research before making any decisions.