Bitcoin has bounced back from a weekend price crash, sparked by fears the Middle East conflict could spiral into a wider war.
The bitcoin price has climbed to around $66,000 per bitcoin after dropping toward $60,000 on Saturday. In recent months, a fleet of new Wall Street spot bitcoin exchange-traded funds (ETFs) have turbo-charged the bitcoin price amid predictions of a “rapid, cataclysmic” U.S. dollar collapse.
Now, after a top Federal Reserve official issued a stark inflation warning, multiple financial giants in Hong Kong appeared to leak the news the Securities and Futures Commission (SFC) had approved them spot bitcoin and ethereum ETFs.
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China’s president Xi Jinping has overseen a bitcoin, ethereum, XRP and crypto crackdown in China in … [+]
China Asset Management, Bosera Capital, HashKey Capita and Harvest Global have announced they had been approved to list spot bitcoin and ethereum ETFs in Hong Kong.
There has not been an announcement from the SFC, however, and some of the social media posts from the financial companies have been deleted, it was reported by Coindesk.
The leaks have already led to expectations among crypto investors that the U.S. and Hong Kong will compete for crypto inflows into their respective funds.
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The bitcoin price has rocketed higher, largely thanks to the arrival of a fleet of spot bitcoin … [+]
“It is now a fight for capital between Hong Kong and New York to flow into their bitcoin ETFs,” Alistair Milne, Altana Digital Currency Fund’s chief investment officer, posted to X.
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