Mainland Chinese Investors Could Pour Up to $25 Billion into Hong Kong Bitcoin ETFs

Mainland Chinese investors could invest up to $25 billion in potential Hong Kong-listed spot bitcoin ETFs via the Southbound Stock Connect program, according to crypto firm Matrixport.

The Southbound Stock Connect program allows qualified mainland Chinese investors to access eligible shares listed in Hong Kong up to 500 billion RMB ($70 billion) per year.

Matrixport estimates that based on unused annual quotas in the program in past years, there is capacity for up to $25 billion to flow into bitcoin ETFs.

Mainland funds have been applying to issue spot bitcoin ETFs through their Hong Kong subsidiaries, which could allow greater mainland investor access.

U.S. spot bitcoin ETFs launched last year have already amassed $12 billion in assets, pushing bitcoin to new highs.