Animoca co-founder Yat Siu stated that the US spot Bitcoin ETF approval will spur Asia into action.
Animoca’s Yat Siu spoke following the US Securities and Exchange Commission’s (SEC) approval of spot Bitcoin exchange-traded fund (ETF) fund applications.
Approval from the USA It will trigger Asia against cryptocurrencies The experienced name emphasized that the starting point in this regard could be Hong Kong.
One way or another in Asia There is regulatory clarity Siu also stated that in his community It has great potential reminded:
There is regulatory clarity and fundamentally there is a willingness on the part of governments and regulators to build this ecosystem and see and participate in the opportunities that are there. In Asia, capitalism has generally been beneficial for this and last generation, although of course there is inequality. So look at China, look at South Korea, look at Southeast Asia, generally speaking, these were all countries that were literally nowhere 30 years ago, in many cases they had nothing. Asian investors have always been more adventurous than their Western counterparts, from the early days of bitcoin. An ETF would be like a perfect marriage between crypto and regulation, easing the concerns of institutional investors looking for a legitimate way to build a crypto portfolio.
One of the names that supported Siu’s idea was crypto exchange Chong Kok Kee, CEO of AsiaNext happened. Kee emphasized that crypto usage in Asia is higher than other continents and said that the region cannot remain passive in this area any longer:
The Asian market, known for favoring stable investments, may see a shift in mindset to view crypto as an investment asset alongside its transactional purpose, as the ETF provides a regulated and lower-risk avenue for investment exposure to cryptocurrencies.