{"id":506834,"date":"2024-04-16T16:30:04","date_gmt":"2024-04-16T16:30:04","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=506834"},"modified":"2024-04-16T16:30:04","modified_gmt":"2024-04-16T16:30:04","slug":"bitcoin-etfs-will-be-lucky-to-raise-500m-in-tiny-hong-kong-market-bloomberg-etf-analyst-says","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-etfs-will-be-lucky-to-raise-500m-in-tiny-hong-kong-market-bloomberg-etf-analyst-says","title":{"rendered":"Bitcoin ETFs Will Be Lucky To Raise $500M In Tiny Hong Kong Market, Bloomberg ETF Analyst Says"},"content":{"rendered":"

Spot <\/span>Bitcoin<\/span><\/a> ETFs (exchange-traded funds) to be launched in Hong Kong will “be lucky” to raise $500 million in the city’s “tiny” ETF market, said Bloomberg ETF analyst Eric Balchunas.<\/span><\/p>\n

Balchunas shot down predictions that the approvals of spot Bitcoin ETFs would lead to a $25 billion injection into the crypto space, calling them “insane” in an Apr. 15 <\/span>post<\/span><\/a> on X.<\/span><\/p>\n

He said the BTC ETFs are likely to be launched next week.<\/p>\n

\"Hong<\/span><\/p>\n

Market For Bitcoin ETFs In Hong Kong “Tiny” Compared To US<\/span><\/h2>\n

Balchunas says the Hong Kong ETF market is “tiny” compared to the US, and that Chinese investors won’t, at least legally, have access to them.<\/span><\/p>\n

The ETF issuers that received approval in Hong Kong are also dwarfed by “big fish” asset managers such as BlackRock, which currently has over $9 trillion in assets under management, said Balchunas. <\/span><\/p>\n

“US spot Bitcoin ETFs have more assets than the entire HK ETF market,” the analyst said in a follow-up post on X.<\/span><\/p>\n

\n

Stat of the Day: US spot bitcoin ETFs have more assets than the entire HK ETF market. https:\/\/t.co\/sQ1VMUhKFI<\/a><\/p>\n

— Eric Balchunas (@EricBalchunas) April 15, 2024<\/a><\/p><\/blockquote>\n