What's behind the lukewarm debuts of Asia's spot bitcoin and ether ETFs?
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- Опубликовано: 29 апр 2024
- Six spot bitcoin and ether exchange traded funds (ETFs) finished mixed in their Hong Kong debut on Tuesday amid relatively lukewarm trading, as the city tests Asian investors' enthusiasm for cryptocurrency assets.
The debuts mark the first launch of spot cryptocurrency ETFs in Asia and come just three months after the US launched its first ETFs to track spot bitcoin.
CNA's Henry Yin explains what could have contributed to the muted response.
This seems like the worst period.
Even the market are now very unpredictable. Started investing recently when the market prices were a bit high,today I am more than 60% down!
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You cannot compare 1 day volume with 2 months of BTC ETF volume in the US.
Also on the US ETF, upon launching, BTC price was plugging too bcoz GBTC was liquidating. This causing BTC price to be in the red for a few weeks. These are all recorded facts.
On the BTC halving, please do proper research, BTC prices post halving were normally neutral or stay down, on one previous occassion staying sideways even - for months.
Despite all of this, the long term BTC price trend since 2011 has consistently break onto higher grounds.
Rejection at 60k, short to about 43k. Which is the bottom before 350k+
43k is the bottom. It will be rejected at 60k first before another move down
Hong Kong 🇭🇰, as a financial center, is finished after China introduced the repressive "National Security" laws.
- Talents have left. Businesses have closed.
Empty office buildings are all over the former British colony.