QCP Capital: The approval of Bitcoin and Ethereum spot ETFs in Hong Kong will release some institutional demand during the Asian trading session

Odaily News China AMC, Bosera Fund and other applicants previously announced on their WeChat public accounts that they have been approved to list Bitcoin and Ethereum spot ETFs in Hong Kong. However, these announcements appear to precede official statements from the Hong Kong Securities and Futures Commission (SFC), which has yet to publish the list of approved issuers, or as a result, some of the articles have been removed. QCP Capital, a Singapore-based digital asset trading agency, said it believes the ETFs will unleash some institutional demand during the Asian trading session once they are approved in Hong Kong. "Participants who want to invest have been limited to the U.S. session, but now this gives institutional investors an option based on the Asian time session," the QCP wrote. In our view, this will be bullish in the near term, but there are more important factors and drivers, such as macro events. ”