According to well-known ETF analyst Eric Balchunas, three recently approved spot Bitcoin and Ether exchange-traded funds (ETFs) in Hong Kong may not have the huge impact that many people are anticipating.
The Hong Kong Securities and Futures Commission (SFC) granted conditional approvals to three offshore Chinese asset managers to issue these ETFs on April 15.
The approved asset managers are Harvest Fund Management, Bosera Asset Management, and China Asset Management.
However, Balchunas has dismissed the predictions that these ETFs could bring in $25 billion in investments and has listed four reasons why crypto investors should not expect too much from these new products.
In his post on April 15, he stated that the ETF market in Hong Kong is relatively small compared to countries like the United States, and that Chinese retail investors do not have official access to these ETFs.
