Bitcoin, Ethereum ETFs in Hong Kong? It may be a reality soon
The ETF craze rises
Recently, Hong Kong has been pondering the allowance of ETFs that directly invest in crypto. Officials will aim to establish an Asia-Pacific digital asset hub and address the fallout of the JPEX scandal.
Potential impacts
Several players worldwide are competing to establish digital asset hubs. The potential approval of crypto ETFs in Hong Kong can boost sentiment in the crypto sector.
State of the blue chips
The growing interest in ETFs can aid blue chip coins such as Bitcoin [BTC] and Ethereum [ETH] the most. The first round of hype around Bitcoin ETFs aided the coin to push past the $34,000 level. At press time, BTC was trading at $34,904.52, having declined by 0.55%.
