Hong Kong, an autonomous administrative region of China where cryptocurrencies and all activities related to them are banned, has approved Bitcoin and Ether spot ETFs. Hong Kong also approved futures ETFs of two cryptocurrencies in 2022. There has been a serious environment for the approval of spot ETFs in the region for a while.

Bitcoin price increased

Bitcoin, which fell below 61 thousand dollars over the weekend due to Iran-Israel tension and exceeded 65 thousand dollars again as of tonight, rose even more with the news from Hong Kong. The largest cryptocurrency rose above 66 thousand dollars.

There are also giant Chinese companies

Especially last week, the US and Chinese media stated that Chinese giant fund management companies also applied for Bitcoin spot ETF in Hong Kong. Among the companies whose Bitcoin and Ether spot ETFs have been approved are Chinese giants China Asset Management and Bosera Capital.

China’s crypto gateway…

As it is known, China banned all activities related to cryptocurrencies in 2021. However, as of 2023, the winds blowing in this direction in the world and the increasing interest in Bitcoin day by day enabled the country to integrate into the world in this way, at least through Hong Kong. Some analysts and investors claim that China may lift its crypto bans.

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Source: https://uzmancoin.com/hong-kong-bitcoin-ether-etf-spot/

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