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Hong Kong Crypto ETF issuer says there is an “open door for Chinese RMB holders”

Hong Kong Crypto ETF issuer says there is an “open door for Chinese RMB holders” 2

Yimei Li said that there is an opportunity for mainland Chinese investors to participate in the Bitcoin market via ETFs. 

Today we reported that Bitcoin & Ethereum spot ETF products debuted in the stock market of Hong Kong successfully, following approval from the financial regulators last week. 

https://t.co/Q54R9Tsshg#Bitcoin Spot ETF Starts Trading In #HongKong, Foreigners Also Can Trade

— Bitcoinik (@Bitcoinikdotcom) April 30, 2024

Before the launch of these crypto ETF products, many experts already predicted that no mainland Chinese investor would be allowed to get exposure to these ETFs, as these are linked with cryptocurrencies which are fully prohibited under the laws of the Chinese government. By considering this factor, experts said that they don’t expect a high amount money inflow, as there is a crypto blanket ban barrier.

https://t.co/CU0ALtgCfK#HongKong Approves #BTC & #ETH Spot ETFs, But Not Yet Launched; Expert Says Don’t Expect Much

— Bitcoinik (@Bitcoinikdotcom) April 16, 2024

In the latest, China Asset Management’s CEO, Yimei Li, shared her opinion and indirectly said that Crypto ETFs are a new opportunity for mainland Chinese investors to participate in the crypto sector.

She said Chinese Yuan (RMB) holders, who are looking for investment in alternative financial instruments, can invest in crypto ETFs.

On the other hand, Harvest Global CEO Han Tongli said that Chinese regulators will closely monitor the development of Hong Kong’s new ETFs, aiming to control risks. He expressed confidence that the market will gradually open as long as regulators are satisfied with risk levels.

Bitcoin pioneer Samson Mow shared his happiness on the launch of crypto spot ETF and said that it is going to be a very big thing in the future. 

Samson also said that don’t expect something big for the next few days, as good things take time. 

#Bitcoin ETFs in HK are going to be big. Maybe not on day 1 or 2, but the long term implications are massive. There is really nothing else for Chinese investors to put their money into at this time. https://t.co/hOSCa7siid

— Samson Mow (@Excellion) April 29, 2024

Read also: Bitcoin spot ETF starts trading in Hong Kong, foreigners also can trade

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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