Is the launch of Hong Kong Bitcoin ETFs by China going to ignite the halving rally?

The potential approval of the first batch of Bitcoin exchange-traded funds (ETFs) in Hong Kong could have a significant impact on Bitcoin’s halving rally, according to experts. The Securities Regulatory Commission of Hong Kong (SFC) is reportedly expediting the approval process for four spot Bitcoin ETFs, which could be approved by April 15, just days before the Bitcoin halving event. If approved, these ETFs could attract both retail and institutional investors in Hong Kong, leading to increased buying demand for Bitcoin. The approval of these ETFs could also contribute to Bitcoin’s post-halving rally. Experts believe that Hong Kong-based ETFs, along with those offered by large US issuers like BlackRock, will further drive institutional demand for Bitcoin. In fact, mega whales holding at least 10,000 BTC are already accumulating Bitcoin in anticipation of the ETF approval. ETFs have been a significant factor in Bitcoin’s price rally, accounting for about 75% of new investment when Bitcoin surpassed $50,000. The price of Bitcoin has shown a close correlation with net Bitcoin ETF inflows. It’s important to note that this article does not provide investment advice or recommendations, and readers should conduct their own research before making any investment decisions.