Chinese RMB holders and issuers find Hong Kong ETFs a gateway, according to experts.

According to industry experts, the launch of spot crypto exchange-traded funds (ETFs) in the Hong Kong stock market has the potential to attract a wave of Chinese investors. Yimei Li, the CEO of China Asset Management, stated in an interview with Bloomberg TV that the introduction of Bitcoin (BTC) and Ether (ETH) ETFs opens up opportunities for Chinese yuan holders to explore alternative investments. China Asset Management, along with Harvest Global Investments and Bosera Asset Management, recently launched their crypto products on the Hong Kong Stock Exchange. Li expressed her optimism for mainland Chinese investors to participate in this process in the future. However, it is important to note that crypto trading is currently banned in mainland China, and the new ETFs are only accessible to residents of Hong Kong. Harvest Global CEO Han Tongli mentioned that regulators will closely monitor the development of Hong Kong’s ETFs and gradually open up the market if they are comfortable with the associated risks. Samson Mow, the CEO of Jan3 and a Bitcoin pioneer, believes that the ETFs in Hong Kong will have a significant impact, with long-term implications. These statements were made in response to a post by Bitcoin environmentalist Daniel Batten, who highlighted the decline of Chinese stock exchanges and the turmoil in the real estate market. Batten added that most Chinese ultra-high-net-worth individuals can invest in Hong Kong’s crypto ETFs. China Asset Management’s Zhu Haokang confirmed in a press conference that mainland Chinese investors are currently not permitted to invest in Hong Kong’s new ETFs, but there is hope among fund issuers and investors that this could change in the future, leading to increased capital inflows from the mainland.