Hong Kong Welcomes Bitcoin ETFs with New Guidelines
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Hong Kong has set guidelines for approving spot bitcoin ETFs, allowing both "in-kind" and "cash creates" models. This contrasts with the US approach.
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Bitwise has disclosed a $200M seed investment into its spot bitcoin ETF filing, signaling strong confidence in these products.
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In-kind ETFs allow exchanging bitcoin for ETF shares directly. Cash ETFs involve buying shares with fiat currency.
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In-kind ETFs could reduce bitcoin supply on exchanges, affecting price based on supply/demand.
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Hong Kong's embrace of spot bitcoin ETFs signals growing global acceptance of cryptocurrencies and related financial products.