#内容挖矿 is optimistic about Hong Kong as the trading center for BTC ETF products in the Eastern Hemisphere. Singapore got up early, but the market depth is not enough. Hong Kong’s capital market is much larger than Singapore’s. The trading volume of the Hong Kong stock market is larger than that of the London stock market, and the London stock market is much larger than that of Singapore. Singapore’s ETFs and the like have little trading volume, while Hong Kong can barely do it. You still have to choose a place with more money. Although Hong Kong has experienced continued capital outflows, its volume still far exceeds that of Singapore. At most, Singapore relies on an economy like Malaysia. To put it bluntly, it still doesn’t have much money and can’t do anything if it wants to. One of the conditions for a good capital carrier is to be able to make a lot of money. The kind of Singapore that launches an asset management product to manage hundreds of millions is almost completely uncompetitive. ETFs should be large in scale, active in trading, and liquid, and secondly, they should be able to track the price of the underlying asset closely. Grayscale’s BTC ETF now has a scale of more than 20 billion US dollars, which is why it charges management fees five times that of other similar products. BlackRock's BTC ETF has only been launched for a week, and its scale has already reached more than one billion US dollars. Singapore does not have enough funds and is too small to play in the secondary market. The market capitalization of Hong Kong's stock market is nearly twice that of London and nearly ten times that of Singapore. Singapore only relies on money laundering to attract some wealthy people to transfer their funds for financial management. Its stock, commodity and futures derivatives have no liquidity at all. How can it be called a global financial center?