According to BlockBeats, a recent research report by Bloomberg ETF analyst Rebecca Sin reveals that Hong Kong is expected to create and redeem physical Bitcoin ETFs in the second quarter of 2021. This development could present a significant market opportunity, potentially increasing the assets under management (AUM) and trading volume for Bitcoin ETF issuers in the region.
The report states that Hong Kong's approach is to use physical Bitcoin to create ETFs, which is entirely different from the United States, where only cash is allowed. In the US, the process is 'cash in, Bitcoin ETF out,' while in Hong Kong, it is 'Bitcoin in, ETF out.'
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According to BlockBeats, a recent research report by Bloomberg ETF analyst Rebecca Sin reveals that Hong Kong is expected to create and redeem physical Bitcoin ETFs in the second quarter of 2021. This development could present a significant market opportunity, potentially increasing the assets under management (AUM) and trading volume for Bitcoin ETF issuers in the region.
The report states that Hong Kong's approach is to use physical Bitcoin to create ETFs, which is entirely different from the United States, where only cash is allowed. In the US, the process is 'cash in, Bitcoin ETF out,' while in Hong Kong, it is 'Bitcoin in, ETF out.'