Hundreds of Millions of Investors in China Can Expose Bitcoin and Altcoins
According to local sources, hundreds of millions of investors in China can meet the Bitcoin and altcoin markets.
According to Caixin's report, many companies that have issued spot cryptocurrency ETFs in Hong Kong are acting in compliance with regulators in Beijing.
The Chinese government may be testing cryptocurrency-based investment instruments in Hong Kong. Allegedly, this raises the possibility that investors in mainland China will also be able to access the Bitcoin and altcoin markets.
After Hong Kong approved spot cryptocurrency ETFs, some analysts said investors in China could also benefit from them, writing that this was bullish for the market. However, these predictions did not turn out to be true.
Although investors in China can invest in cryptocurrencies to a limited extent, they are currently unable to invest in cryptocurrency ETFs in Hong Kong, where payments are made in kind.
This is thought to be largely due to the restrictions imposed in China to prevent money leaving the country.