Financial Union, May 21 (Editor Hu Jiarong) Most stocks in the Hong Kong stock market adjusted today, but boosted by good market news, many cryptocurrency ETFs strengthened against the market.
As of press time, Bosch Ethereum (09009livpoker.HK) up 19livpoker.25%, China Ethereum (03046.HK) rose 19.22%, Castrol Ethereum (03179.HK) rose 19.20%, Bosch Bitcoin (03008.HK) rose 6.80%, and China Bitcoin (03042.HK) rose 6.71%.
notelivpoker: Performance of cryptocurrency ETFs
In terms of news, there are reports that the U.S. Securities and Exchange Commission (SEC) may approve the spot Ethereum ETF within this week. According to people familiar with the matter, regulators are urging exchanges to speed up the update of relevant ETF application documents, which may mean that the listing application of Ethereum ETF is expected to be approved before the deadline of this Thursday (May 23).
Although some fund companies expect their applications to be rejected by the SEC because communication with regulators is not as frequent as when Bitcoin ETFs were listed, the situation is not entirely pessimistic. Some people believe that even if the application is rejected, the applicant may take legal measures, which will bring new hope for the Ethereum ETF to enter the market. In addition, although the SEC may delay another key process indefinitely, the listing of the Ethereum ETF remains a possibility.
As of press time, ETH (Ethereum) rose 19.12% to $3,685.82.
notelivpoker: Trend of ETH
At the same time, according to the latest data on Monday, the Bitcoin Spot ETF also reversed its decline, receiving nearly US$1 billion in new capital injections within the day, suspending the trend of capital outflows.
Why do cryptocurrency ETFs attract more market attention?
In fact, long before the Hong Kong stock market opened cryptocurrency ETFs, the United States had approved the listing of Bitcoin spot ETFs on its exchange earlier this year.
These ETFs are issued by multiple institutions, including Grayscale, Bitwise, Hashdex, iShares, Valkyrie, Ark 21Shares, Invesco Galaxy, VanEck, WisdomTree, Fidelity and Franklin. According to relevant data, only about three months after its listing, the U.S. spot Bitcoin ETF has continued to flow in a huge amount, with a scale of nearly US$58.9 billion.
In response, Bloomberg Industry Research ETF Asia Pacific chief analyst previously stated that the asset management scale of Hong Kong's spot Bitcoin and Ethereum ETFs is expected to reach US$1 billion, but whether this goal can be achieved may depend on the improvement of infrastructure and ecosystems. speed.
