Three fund managers recently launched six crypto ETFs in Hong Kong. This step could signal important developments for both Bitcoin and the Hong Kong market.
Hong Kong's Spot Bitcoin and Ethereum ETFs
6 new spot Bitcoin and Ethereum ETFs launched in Hong Kong. The companies offering these funds were the Hong Kong branches of Harvest Global Investments, China Asset Management (CAM) and Bosera Asset Management.
It is thought that this step may have significant effects on the market, especially on the adoption rate. Additionally, considering the importance of this step from the perspective of the cryptocurrency ecosystem, it can be profitable for investors. After all, ETFs are products that trade on the actual market value, not the asset itself.
This development opens up a new way to invest in cryptocurrencies for regional and global investors. Moreover, thanks to spot ETFs, investors can have a safer investment alternative by avoiding excessive volatility to some extent.
The Importance of Hong Kong's Spot Crypto ETF Market
Many traders believed that the price of Bitcoin would rise greatly on the approval news due to a series of events in which Hong Kong ETFs were the focus. This chain of events began in the first quarter of 2024, when the US Federal Reserve announced pauses and possible reductions in interest rates.
In fact, the price impact on BTC was more moderate than many expected, and trading volumes appeared to be lower than initially expected. The leading crypto asset managed to reclaim $64,000 on news of Hong Kong spot ETF approval but has since fallen below $60,000 (correct as of May 3, 2024).
Ultimately, the importance of Hong Kong spot crypto ETFs lies in the fact that they are another step towards the global recognition and integration of digital assets into traditional financial systems.
PLEASE READ CAREFULLY FOR THE GIFT OF 10 DOLLARS.
My friends, you know that we, the publishers, are doing everything we can for you here. We are informing you about the services and facilities offered to us by our authorities. I have never stopped supporting both the Cryptocurrency market and you as much as I could, and on the contrary, I am trying to provide more support.
THIS 10 DOLLAR GIFT CAMPAIGN IS A CAMPAIGN MADE SPECIALLY FOR ME BY BINACE. YOU CAN GET THE CONFIRMATION I SAID ABOUT THIS BY CONTACTING LIVE HELP. THIS IS A 10 DOLLAR CAMPAIGN MADE TO YOU THROUGH ME.
Now I will tell you how to receive your gift. First of all, Binance users who have registered with someone's reference and actively use futures transactions will unfortunately not be able to benefit from this promotion.
So who will benefit?
Our friends who have not activated the futures section yet, while activating your FUTURES trading section, you will earn 10 dollars when you open it by entering my reference code 88623008.
I EXPLAIN IN DETAIL.
My brothers and sisters who have become a Binance member without reference, please listen carefully;
When you do what I say, you will receive 10 USDT.
Enter the Futures Section from your application,
On the next screen, open your account by entering the code 88623008 in the REFERENCE CODE section,
My brothers and sisters who want to complete this transaction and receive the 10 USDT reward by MAY 1 can do so. After activating your account, all you have to do is open your first futures transaction.
The first 1,000 brothers to open a 200 USDT transaction by MAY 1 will receive a 10 USDT reward.
So let me give you a tactic like this: Even if you open and close 20x with a $5 transaction, you will be entitled to the reward.
However, even if you do this after May 1, your reward will not come. So get it done by May 1st. In fact, right now I say you can get it done in 5 seconds.
Very simple. Go to Futures, enter my reference code 88623008 and activate the account. Afterwards, just open a total of 200 USDT transactions and get 10 USDT reward.
WHEN WILL THE AWARD COME?
Your 10 dollar reward will arrive in the REWARDS section of your Binance application within 30 days, starting from May 1st. By activating it from there, you can use your reward of 10 dollars, or more than 300 liras, in futures transactions.
You can help your friends in need by sharing this post.
BY THE WAY, MY BROTHERS, PLEASE DON'T MISS YOUR LIKES. EVERY SHARE IS FOR YOU. SO DON'T WITHHOLD YOUR SUPPORT. IF YOU HAVE NOT FOLLOWED YET, DON'T FORGET TO FOLLOW. KIND REGARDS.
