Hong Kong has approved ETFs for spot BTC and ETH. There may be several barriers for mainland users to enter the market.

1⃣️Open a Hong Kong card (simple);

2⃣️Open a securities account (simple);

3⃣️How to flow funds into Hong Kong (US$50,000 per year in foreign exchange control, which is difficult with large amounts, but can be solved);

4⃣️It is likely that you need to be a "qualified" investor to trade. This has a certain threshold. If you follow the unified certification standards of @HashKeyGroup, you need a "bank or securities account deposit certificate of 8 million Hong Kong dollars" or find a local Hong Kong lawyer to witness (some law firms support certifying the value of BTC at 30% off) (a bit difficult);

If only relying on Hong Kong's limited "qualified" investors, the impact on the new amount of funds in this market as a whole is negligible, because Europe passed the spot ETF one month before the United States passed the BTC spot ETF, and the result did not cause any fluctuations. The market increment brought by funds still depends on the United States. After all, the printing press is running, and buying cakes on this side is done.

Because the U.S. dollar is the global currency, and there is no plan to repay U.S. debt, but symbolic interest still needs to be paid. This is why the United States, even under such high inflation, is still expected to cut interest rates soon, because the interest rate is really high, and they are worried that they can't pay the interest. This is off topic.