Hong Kong financial authorities’ approval of spot Bitcoin ETF could trigger a strong rally in Bitcoin prices
Noel Atchison, the author of the cryptocurrency newsletter "Crypto is Macro Now," said that the Hong Kong financial authorities' approval of the launch of a spot Bitcoin ETF may trigger a strong rebound in Bitcoin prices. Spot trading is more efficient in terms of taxes and costs. It will attract a wider range of participants. The trading volume of Asian cryptocurrency exchanges exceeds that of the US market, and if a small number of Chinese investors can legally invest in Bitcoin, it will be huge. The industry predicts that Hong Kong will approve spot Bitcoin ETFs and allow redemptions in the second quarter of this year.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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