Posted 1/30/2024, 1:25:11 PM
Crypto Resurgence: Bitcoin Surges Past $43K as Hong Kong Eyes Bitcoin ETFs and Tighter Stablecoin Rules
- Bitcoin and crypto prices have surged, with bitcoin topping $43,000. A JPMorgan prediction suggests bitcoin may have turned a corner.
- A major Chinese asset manager has applied to launch Hong Kong's first spot bitcoin ETF, with the regulator looking to potentially approve it after Spring Festival.
- Hong Kong plans to ramp up rules around stablecoins, with multiple companies showing interest in related trials.
- Around 10 fund companies in Hong Kong have started looking into launching potential spot crypto ETFs.
- Despite China's crypto ban, mainland investors are still allocating assets to crypto in Hong Kong as traditional investments on the mainland feel risky.