According to a report by the mainland official media “Securities Times,” several Chinese fund companies are applying for the layout of Bitcoin spot ETF through their Hong Kong subsidiaries. It is possible to see the issuance of Bitcoin spot ETF as early as the second quarter. The recent gold investment frenzy in China has also caused the suspension of gold ETF trading for the second time, with a premium of up to 30%. It is estimated that with the sluggish stock and real estate markets in China, a large amount of capital has nowhere to go, and the issuance of Bitcoin spot ETF may create another whirlwind in Asia.
Will China's Asset Management Company's Application for Bitcoin Spot ETF through Hong Kong Cause Another Gold Rush?