As a researcher with a background in finance and experience following the cryptocurrency industry, I’m closely watching Harvest’s plans to make its Bitcoin and Ether ETFs accessible to mainland Chinese investors through Hong Kong’s ETF Connect framework. This could potentially be a significant bullish trigger for cryptocurrency markets if Chinese regulators approve such an offering.
The head of Harvest, the company behind the Hong Kong-listed Bitcoin ETF, aims to enable investment from Chinese mainland investors in this digital asset product.
As a researcher, I’ve come across intriguing news regarding Harvest Fund Management’s potential plans to expand access to their Bitcoin and Ethereum (ETH) ETFs for mainland Chinese investors. According to reports in The South China Morning Post on May 9, Han Tongli, the CEO and CIO of Harvest, is exploring possibilities to offer these products through Hong Kong’s ETF Connect framework. This could potentially open up new investment opportunities for mainland investors, bridging the gap between the Chinese and international markets in the digital asset space.
In 2022, the ETF Connect was introduced, gaining approval from both the China Securities Regulatory Commission and the Securities and Futures Commission. This innovative tool aims to foster connectivity and integration between Hong Kong and mainland China’s financial markets. It provides a rich selection of asset allocation options and works to enhance liquidity.
If things continue to run smoothly and successfully over the next two years for Harvest, the CEO, Tongli, has not dismissed the possibility of applying for Harvest’s ETFs to be added to ETF Connect.
The prospect of Bitcoin and Ether being added to the ETF Connect program could significantly boost cryptocurrency markets if China’s large investor base takes advantage. However, it remains uncertain whether the Chinese government will permit this opportunity for its citizens, given their long-standing restrictive stance on digital currencies like Bitcoin.
Based on SCMP’s report, Hong Kong’s Bitcoin and Ether futures-linked ETFs, which were introduced in 2022, have not yet been incorporated into the Stock Connect.
As a researcher studying financial markets, I’ve noticed that the ability of Hong Kong to offer a Bitcoin Exchange-Traded Fund (ETF) to mainland Chinese investors has been a topic of great interest and debate long before the launch of such products in Hong Kong on April 30, 2024.
As a crypto investor, I wouldn’t have anticipated significant market activity upon the launch due to the relatively small size of the Hong Kong ETF market compared to that of the US or mainland China.
Based on Bloomberg’s data analysis, certain subsidiaries of Chinese companies headquartered in Hong Kong possess approximately fourteen times more assets in China than in their local Hong Kong market. In contrast, statistics indicate that Hong Kong Exchange-Traded Funds (ETFs) represent around 0.6% of the total U.S. ETF market.
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2024-05-10 18:04