Singapore, Hong Kong lead the blockchain revolution, not the US

Singapore and Hong Kong are emerging as leading centers for blockchain technology, surpassing even the United States. However, the outlook for crypto ETFs in these regions is quite bleak, with all six funds launched in Hong Kong at the end of April recording negative returns through the end of August. Cryptocurrency market volatility and US policy uncertainty are affecting the appeal of these funds to investors. Although Hong Kong has invested significantly in blockchain technology and is looking for growth from this sector, competition from other financial centers such as Singapore is also strong.

Building a sustainable blockchain hub in Hong Kong will not be easy, due to many challenges such as lack of experience in the technology startup sector and fierce competition. Meanwhile, some experts predict Bitcoin will increase in price sharply in the future, even reaching $350,000 by 2025, which could positively affect the overall cryptocurrency market and ETFs. relate to.