A new chapter in the legalization of digital currency in the mainland: Hong Kong Bitcoin ETF is included in the Shanghai-Hong Kong Stock Connect, and QDII funds are about to be connected!
In the field of digital currency, an exciting news is quietly brewing. According to the authoritative disclosure of Richard Byworth, managing partner of SyzCapital and Bitcoin investor, the Hong Kong Bitcoin spot ETF is expected to be officially included in the Shanghai-Hong Kong Stock Connect plan, which marks an important step in the legalization of digital currency in the mainland.
Shanghai-Hong Kong Stock Connect, a cross-border investment channel connecting the Shanghai Stock Exchange and the Hong Kong Stock Exchange, has opened a new door for investors. When Hong Kong's Bitcoin spot ETF is included, qualified investors in the mainland will be able to purchase this product with a certain quota, which undoubtedly provides more investment opportunities and choices for digital currency enthusiasts.
What is more exciting is that QDII funds that can be redeemed by mainland funds will also be connected with digital currency. QDII funds, namely qualified domestic institutional investors funds, allow qualified domestic institutional investors to invest in overseas securities markets. When this fund is combined with digital currency, it will bring investors more diversified investment options and broader investment space.
At the same time, we can also see that it is also planned to include Hong Kong Stock Connect for trading. Hong Kong Stock Connect allows mainland investors to trade stocks in the Hong Kong market through Hong Kong brokers and clearing houses. If digital currency ETFs can also be included, more mainland investors will be able to directly participate in digital currency investment.
Although direct purchases of cryptocurrencies with RMB are still restricted, this series of actions has laid a solid foundation for the legalization of digital currencies in the mainland. The toolbox is rich enough, and the future digital currency market will be more worth looking forward to.
Let us welcome the new era of legalization of digital currencies in the mainland and seize this once-in-a-lifetime investment opportunity!
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