Hong Kong Targets Launch of Bitcoin and Ethereum ETFs. Is a Juxtaposed Bull at the Gate?

  • Fresh spot BTC ETFs are on the cards in the Far East.
  • A spot ETH ETF approval might be seen first in Hong Kong, given the current developments.

Stay in the know on crypto by frequently visiting Crypto News Today

In the US, the launch of a Bitcoin [BTC] spot ETF is no longer a groundbreaking event, and a spot Ethereum [ETH] ETF is expected to happen shortly after.

Still, organizations in Hong Kong are planning to apply for Ethereum and Bitcoin exchange-traded funds (ETFs). With this action, these assets may draw in more capital than before.

CryptoCaster Quick Check:

Looking to place Ethereum and Bitcoin ETFs

According to reports from Hong Kong, local institutions are actively pursuing approvals for Bitcoin ETFs that trade on the spot.

Institutions and traders are generally perceived as being behind, given that the US has already approved eleven spot BTC ETFs, according to the reports.

Still, there are signs that Hong Kong’s drive for spot Ethereum ETF approvals could move the process along faster, putting them ahead of the US in that regard. This is in addition to the push for spot Bitcoin ETF approvals.


The report also mentions the serious conversations that are still going on about spot ETH proposals.

Applying for spot BTC ETFs, ten institutions have done so. Should these applications be accepted, they might add to the continuous inflow of institutional capital that Bitcoin is presently enjoying.

In addition, the early acceptance of spot Ethereum applications not only increases the amount of money in the Ethereum market but also might have an impact on talks regarding the US approval of ETH ETFs.

The Present Status of U.S. Spot Bitcoin ETFs

Key performance indicators for the Coinglass spot Bitcoin ETF were examined, and the results showed a notable increase since approvals.

Three days stand out as exceptions to the general trend of positive inflows, according to an analysis of the flow data.

March 1st saw the biggest outflow, amounting to over $311 million, while March 5th saw the largest inflow, totaling over $965 million.

Source: Coinglass

According to chart analysis, the ETF’s historical highest volume, which reached nearly $13 billion on March 6, happened on that day. The volume was approximately $9.1 billion as of the time of publication.

Furthermore, as of the time of the report, the spot BTC ETF’s assets under management (AUM) exceeded $55 billion, and its market capitalization had increased to over $58 billion.

Together, these indicators demonstrated the market’s remarkable expansion and heightened investor attention in the spot Bitcoin ETF since its approvals.


Bitcoin and Ethereum Enter Uncharted Pricing Territories

According to AMBCrypto, both Bitcoin and Ethereum have reached new price levels when looking at their daily timeframes. As of the time of publication, the asset was trading for over $70,000, and the Bitcoin chart showed a 2.7% increase.

This was the first time that the price of Bitcoin had reached this level in more than two years. It was also happening a few months after spot ETFs were approved in the US.

Furthermore, as of this writing, Ethereum’s price has crossed the $4,000 barrier. The graph indicated a gain of more than 3%, putting the value just over $4,000.

This was the first time Ethereum has reached this price point since 2021, much like Bitcoin.

This was the first time Ethereum has reached this price point since 2021, much like Bitcoin.

Source: Trading View

Currently in the early phases of their bull runs, both assets could see further price increases due to the possible approval of spot ETFs in Hong Kong.CRYPTOCASTER® - DECENTRALIZED FREEDOM!


e hope you enjoyed this article. Before you move on, we invite you to consider supporting CryptoCaster’s journalism.

Billionaire owners like Elon Musk, Larry Fink (BlackRock), and Jamie Dimon (JP Morgan Chase) often have a strong influence on the hidden agendas surrounding the paradigm shift brought about by cryptocurrency and emerging Web3 technologies. CryptoCaster stands apart. We have no billionaire owner or shareholders to please. Our journalism is dedicated to serving the public interest in crypto development and institutional disruptions, not profit motives.

We avoid the pitfall of much U.S. and global media, which often resorts to false equivalence in the name of neutrality and retail consumer protection. While fairness and transparency guide everything we do, we recognize that there is a right and wrong stance in the fight against fiat global banking interests and the monetary reconstruction driven by the emerging crypto ecology.

When we report on issues like the FTX, Binance, and Ripple crises, we’re not afraid to name names and uncover the truth. As a crypto sentinel, we offer a fresh, outsider perspective on global monetary disruption—something often missing from the insular American and European media bubble.

CryptoCaster’s paywall-free journalism is accessible worldwide thanks to our unique reader-supported model. This is made possible by readers like you. Your support keeps us independent, free from outside influence, and accessible to everyone, regardless of their ability to pay for news and information.

We are grateful for the ongoing monetary support from our readers. If you haven’t yet considered supporting CryptoCaster, please consider contributing just once from $1 or more in Bitcoin (satoshi) or Ether, or even better, support us monthly with a bit more. Scroll further down this page to find CryptoCaster’s wallet addresses.

Thank you.

Kristin Steinbeck
Editor, CryptoCaster

Please Read Essential Disclaimer Information Here.
© 2024 Crypto Caster provides information. does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.

Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
MATIC – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
LITECOIN – ltc1qxsgp5fykl0007hnwgl93zr9vngwd2jxwlddvqt


You may also like