Hong Kong approved the first BTCÐ ETF 🥳
Hong Kong 🇭🇰 regulatory authority just approved the first BTC(Bitcoin) and ETH(Ethereum) ETF(Exchange-Traded Fund) 🥳 I've never imagined that the BTC and ETH ETFs were simultaneously approved by them.
It seems that the China 🇨🇳 wanted to lead the crypto industry through the faster approval of ETH ETF than the 🇺🇸. I think it will affect the decision of the 🇺🇸 SEC(Security Exchange and Commission). The 🇺🇸 also may want to continuously lead the crypto industry. So, I think they won't delay the ETH ETFs for a long time. Cause, if they keep delaying ETH ETFs, funds will leave the 🇺🇸 to move in 🇭🇰.
A crypto firm said that there's $25b potential demand for spot BTC ETFs. Amazing 🤯 The sentiment of the crypto market looks disbelief. It's like the right after the approvals of spot BTC ETFs by the 🇺🇸 SEC.
Zoom out, Take a look at forest, not a tree.
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