China's Potential Interest in Bitcoin ETFs: Investor's Remark Sparks Speculation

The recent debut of spot Bitcoin (BTCUSD) and Ether (ETHUSD) exchange-traded funds (ETFs) in Hong Kong has stirred discussions among Asian traders. Despite a modest start compared to their US counterparts, the proximity of Hong Kong to China has raised questions about potential accessibility for mainland Chinese investors.

Richard Byworth, managing partner at SyzCapital and a BTC investor, has stirred rumors by suggesting that Bitcoin ETFs listed in Hong Kong may soon be within reach for mainland Chinese investors. Byworth hinted at the possibility in response to Samson Mow, mentioning discussions about integrating the spot BTC ETF into Stock Connect.

Stock Connect facilitates qualified investors from one market to access eligible shares in another, with the Shenzhen-Hong Kong Stock Connect serving as a notable cross-border investment route. While these remarks remain speculative, China's cautious stance on cryptocurrencies has amplified the conversation on social media.

Brian HoonJong Paik, co-founder and chief operating officer at SmashFi, weighed in on the rumors, noting potential access for mainland Chinese investors to the Hong Kong ETFs in the near future. Paik highlighted the substantial portion of Chinese wealth tied to real estate and suggested the need for alternative assets to address social unrest concerns.

Several trade arrangements between Shanghai and Hong Kong markets could pave the way for mainland Chinese investors to access spot BTC ETFs in Hong Kong. These include the Shanghai-Hong Kong Stock Connect, the Shenzhen-Hong Kong Stock Connect, the Qualified Domestic Institutional Investor (QDII) scheme, and mutual recognition of funds (MRF) between Hong Kong and Mainland China.

Despite China's crackdown on crypto-related activities, recent court rulings have recognized BTC as legal property in certain jurisdictions. As discussions around the potential accessibility of Bitcoin ETFs in Hong Kong persist, the implications for mainland Chinese investors remain a topic of interest.

Related: Hong Kong officials advocate for self-regulation in the city's crypto industry.

Additionally, Web3 Gamer suggests that Web3 gaming may not sustain beyond five years, offering $656K for the best crypto game pitch.

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