Senior ETF Analyst at Bloomberg Eric Balchunas speculates that the upcoming Hong Kong Bitcoin ETFs will not have substantial inflows or market effects. The ETFs will not be available to Chinese locals, and the Hong Kong ETF market is only $50 billion. With no big players involved and less liquidity, the market will be less efficient with spreads beyond where Bitcoin normally trades. These factors and relatively high 1-2% fees make this more of a moral victory than a financial one for Bitcoin.
Tuesday, April 16, 2024