The financial sector’s approach to digital assets has undergone a seismic shift, particularly in the wake of Bitcoin’s meteoric rise from US$60,000 to US$100,000 during Donald Trump’s presidential campaign.
This wave of enthusiasm has rippled across Asia. Following the US approval of spot Bitcoin exchange-traded funds (ETFs) in January 2024, Hong Kong quickly established itself as an early adopter in Asia. Chinese asset managers, inspired by BlackRock’s success and supported by Hong Kong’s accommodative regulations, have launched their own Bitcoin ETFs in the territory.
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