Bloomberg Analyst Issues a Warning for the Upcoming Hong Kong Bitcoin, Ethereum ETFs

Hong Kong regulators recently approved spot Bitcoin and Ethereum exchange-traded fund applications, but Bloomberg ETF analyst Eric Balchunas predicts that the local ETF market may not perform as well as the US due to the current lack of big players and the possibility of high fees.

While the spot crypto approvals are a major milestone for Hong Kong, which is determined to position itself as a central digital assets hub, there are speculations that the city-state may not witness large inflows like in the United States., predicted that the Hong Kong ETF market could see an inflow of $500 million, debating another prediction that estimated $25 billion.

The ETF analysts added that the potential local issuers are small compared to the behemoths in the United States. The US boasts financial giants such as the world’s largest asset manager, BlackRock, and Fidelity, which has nearly $5 trillion in assets under management . The company’s management fee is significantly higher than its rivals and has seen continuous outflows compared to competitors such as BlackRock, which continues to record gains.Meanwhile, the Hong Kong spot Bitcoin ETF market could see an uptick if bigger players are involved and mainland Chinese investors are allowed access to the product, according to Balchunas.

Source: Digital Coin News (digitalcoinnews.net)

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