Big news for crypto investors in China!
Han Tongli, the CEO of Harvest Global Investments, hinted at something big in finance: spot Bitcoin and Ethereum exchange-traded funds (ETFs) might soon be available on the Stock Connect scheme. This could let mainland Chinese investors directly invest in these digital assets within two years, which would be a major change in investment options.
Read on to find out what this means for the future of crypto in China!
Han Tongli, CEO of Harvest Global Investments, is considering a bold move that could reshape the financial landscape: adding spot Bitcoin and Ethereum exchange-traded funds (ETFs) to the Stock Connect scheme. This move, if approved, would allow mainland Chinese investors to access these digital assets through regulated channels within about two years.
Speaking at the Bitcoin Asia conference in Hong Kong, Han Tongli revealed Harvest’s plan to explore the inclusion of spot Bitcoin and Ethereum ETFs on the Stock Connect scheme. He expressed cautious optimism about this potential opportunity, signaling the firm’s readiness to navigate regulatory requirements.
This announcement comes at a time when investors are seeking secure ways to invest in cryptocurrencies amidst regulatory uncertainties.
The Stock Connect program, established in 2014, serves as a link between the Hong Kong and Shanghai stock exchanges, enabling cross-border trading. Through the ETF Connect scheme, it extends its reach to include ETFs, providing mainland investors with access to diverse investment opportunities.
Harvest’s interest in introducing spot crypto ETFs to this platform underscores its commitment to expanding investment avenues within regulated frameworks.
Amid Beijing’s strict stance on cryptocurrencies, the Stock Connect Scheme emerges as a significant development. While the legal status of individual cryptocurrency ownership and trading remains uncertain in mainland China, Harvest’s potential move signals a push towards legitimizing crypto investments within regulated channels.
The journey towards mainstream acceptance of crypto investments in Hong Kong has faced hurdles. Despite the significance of introducing spot Bitcoin and Ethereum ETFs, initial trading volumes fell below expectations.
Han Tongli acknowledges the skepticism surrounding Hong Kong’s position as a Special Administrative Region, advocating for a cautious market approach.
He envisions Hong Kong as a neutral ground for crypto investment, poised for significant growth in the market. By positioning itself as a neutral jurisdiction, Hong Kong stands to attract a diverse range of investors, bolstering the success of crypto ETFs in the region.
Will this be the key to unlocking China’s vast crypto potential? Only time will tell.
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