PANews reported on April 27 that Blue Whale News learned from the industry that in addition to Bosera, China Asset Management, and Harvest, Hong Kong local institution Value Partners also applied to issue a virtual currency spot ETF, but it did not appear on the approved list in the end. People familiar with the matter revealed that Value Partners withdrew after applying because the preparations were not done well, time was tight, and there was a shortage of manpower. In addition, compared with the other three companies, Value Partners mainly does active business in Hong Kong, and its ETF business is relatively weak, so it plans to wait and see.
Although this batch of virtual currency spot ETFs was first launched by three domestic public offering subsidiaries in Hong Kong, according to previous regulations, mainland investors cannot participate in the transaction. Markus Thielen, founder of crypto research company 10x Research, believes that if mainland investors are allowed to buy, this batch of Bitcoin spot ETFs may attract $25 billion in funds.
Bloomberg ETF analyst Eric Balchunas believes that due to the relatively small Hong Kong ETF market, the three domestic public fund managers and international asset managers such as BlackRock are not of the same size, mainland retail investors cannot trade, and product liquidity is questionable, etc., "US$500 million would be lucky."
