Bloomberg analyst Eric Balchunas commented on the news about the approvals of Hong Kong spot ETFs.

Balchunas admitted that the spot ETF has been approved but has not yet been launched. The listing is expected to occur next week; however, all issuers are ‘small fish’ compared to BlackRock.

Additionally, the Hong Kong spot Bitcoin ETF ecosystem is less liquid than that of the U.S., meaning there will be spreads and discounts. As a result, spot ETF fees will be higher than the U.S. at 1% to 2%.

Balchunas explained that all the factors will benefit Bitcoin since the cryptocurrency industry will have more investment opportunities.

“I’m just saying its child’s play vs U.S. Also long-term some of this could go away: more liquid, tighter spreads, lower fees and bigger issuers involved. But short/medium term we have more moderate expectations. That’s all.”

Eric Balchunas, Bloomberg analyst

On April 15, several management companies reported receiving permission from regulators to launch spot ETFs for Bitcoin and Ethereum in Hong Kong. Unlike the United States, where similar funds were l

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Author: Anna Kharton

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