During the early Asian session on Monday, Hong Kong-based China Asset Management announced that it had received approval from the Hong Kong Securities and Futures Commission to offer virtual asset management services to investors. As a result, China Asset Management now offers spotlight services to investors in Hong Kong, Greater China, Asia Pacific, Europe and the United States. Bitcoin and may issue Ethereum exchange-traded funds (ETFs).
In particular, China Asset Management, spot Bitcoin and Ethereum ETFOSL Digital Securities Co., Ltd., a leading partner in the virtual asset industry, to distribute its assets. and BOC International Prudential Trusteeship Ltd., a leading trustee. He apparently formed a partnership with.
The parent company of Hong Kong-based China Asset Management is one of China’s largest fund companies with over $266 billion in assets under management (AUM) as of December 2023. is one.
Breaking: China Asset Management, Bosera Capital, HashKey Capital Limited, etc. announced that their applications for Bitcoin and Ethereum spot ETFs have been approved by the Hong Kong Securities and Futures Commission, allowing investors to directly use Bitcoin and Ethereum to… pic.twitter.com/R6VC9okbG7
NEWS CONTINUES BELOW— Wu Blockchain (@WuBlockchain) April 15, 2024
Direct Impact on Bitcoin and Ethereum Prices
After a volatile weekend that resulted in heavy cryptocurrency liquidation, the total crypto market cap has gained nearly 5 percent in the last 24 hours, reaching approximately $2.53 trillion. Following the announcement of spot ETF approval in Hong Kong, Bitcoin and Ethereum prices increased by 2.5 percent and 4.4 percent in the last 24 hours.
The approval of spot BTC and Ether ETFs in Hong Kong will increase the influence of U.S.-based spot ETFs, which collect more than 3 percent of Bitcoin’s circulating supply.
$BTC is Bouncing Back but Still Moving inside the Pennant. 📈
– 🇭🇰 Hong Kong approves spot #Bitcoin & #Ethereum ETF application.
– Only 5 days until the Bitcoin halving. ⏰ pic.twitter.com/gY3SbqG6in
— Captain Faibik (@CryptoFaibik) April 15, 2024
As Koinfinans.com reported, with the fourth Bitcoin halving taking place this week, a popular crypto analyst nicknamed Captain Faibik is confident that the leading crypto asset will soon break out of the bullish pennant. Moreover, global wars in the Middle East have been identified as bullish aspects for Bitcoin and digital assets.
