Hong Kong Approves Bitcoin, Ethereum ETFs Amid China's Growing Crypto Interest

Hong Kong approved Bitcoin and Ethereum spot ETFs, could begin trading by April 30th. ETFs managed by China Asset Management, Harvest Global, Bosera, and HashKey.

If allowed, mainland Chinese investors could allocate up to $25 billion per year to Hong Kong ETFs based on quota limits. However, mainland access to ETFs currently seems unlikely.

China potentially looking to Bitcoin to diversity assets due to property worries and stock market weakness. Regulated products like ETFs more favorable than banned crypto trading.

Hong Kong positioning itself as a crypto hub - opening trading to retail investors and approving crypto ETFs. Seen as China using HK as crypto testing ground.

Success of Bitcoin/Ethereum ETFs depends on whether mainland China investors can purchase them. ETFs less popular investment vehicle in Asia.