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Hong Kong financial authorities' approval of spot Bitcoin ETFs could trigger a strong rebound in Bitcoin prices
Noel Atchison, a contributor to the cryptocurrency newsletter Crypto is Macro Now, said that the approval of the launch of a spot Bitcoin ETF by Hong Kong financial authorities could trigger a strong rebound in Bitcoin prices. Spot is more efficient in terms of taxes and costs. It will attract a wider range of participants. The trading volume of Asian cryptocurrency exchanges exceeds that of the US market, and it would be huge if a small number of Chinese investors could legally invest in Bitcoin. The industry predicts that Hong Kong will approve a spot Bitcoin ETF and allow redemption in the second quarter of this year.
