HK

TexasBoyz-713

Slow day, who else is ready for HK market to open in a bit??

Historical_Archer548

It really depends on your goals and availability. If you’re only playing eth and btc then yes. But most of in this space are playin alts as ROI is potentially better. Eth ETF has been approved in HK but not in the US yet and a of now the SEC seems to not want it to be one.

Inevitable-East2663

HK etf are more like a list of people who can be followed by chinese mainland goverment... good way to loose good chinese citizen points

Fajarsis

No Fed rate hike + HK Bitcoin ETF Kicked in..

Financial_Design_801

HK firm called Ovata holds four of the US spot bitcoin ETFs with total value of $74m, making it the biggest total allocator to date https://twitter.com/ericbalchunas/status/1786381912031781168?s=46&t=ihVglVXC0BQSbw6j57EoaA

HauntingBrick8961

Just a reminder of the bullish conditions - new HK ETF live, UK ETF by end of month, rate cuts possible by end of year. Korea ETF - maybe ?

Little-Struggle-8038

I think is about HK new orders

crabzillax

We just reached a point where its too high for buyers and too fundamentally scary (HK etf is a flop, Interest Rates fear, traditional Sell in May, US elections, wars). It was expected for lots of people to be honest, but permabulls just sees halving (already priced 6 months ago and which didnt really caused price action yet). It was overheated, and now we just have to wait. Dont catch falling knives guys and dont forget that not trading is actually a trading decision.

UpLeftUp

If you compare the HK ETF launch to the launch of other HK ETFs, it was pretty successful. If you compare the HK ETF launch as a % of the overall HK market vs the US ETF launch as a % of the overall US market, it was reasonably good. Its only been painted as disappointing by reporters that have no real understanding of the size of HK.

Starkey18

HK etf bought like 150 bitcoin lol

UpLeftUp

>but the Hong Kong ETF was already deemed low-performing yesterday and that's at launch! Depends who you ask. It performed pretty well compared to other HK ETFs. Also, it performed alright when you factor in the difference in size of the HK market vs the US.

Fun-Air-4314

It's Labour Day in HK anyway so markets aren't open. No idea why it's dropping but I might move forward my monthly DCA (or increase it proportionate to the drop) to try and capture the volatility.

jwz9904

HK wants cheaper btc, it's a bear trap heh

TJ_Hendrix

Is it still the weak HK ETF launch?

Affectionate_Bad8815

Think of all the prospective buyers in Asia wanting to buy btc now.... they will be thinking twice about it. Cant have the HK etf companies out perform the USA ones

TheGDC33

This data is readily available. Pretty sure April 29th inflows were negative...like people taking money out of the ETF. HK ETF first day was like 12 million.

SuspiciousStable9649

This is… kind of dumb. With the security resolutions BTC ETF in HK could be killed tomorrow. And probably will be. The nothing burger of nothing burgers.

Affectionate_Dog_600

Misinformation, HK is not china and Chinese largely do not have access to HK markets through traditional brokerages

CrazyK9

They could also be referring to ETH ETF as world's first. However this would not be correct as at least Canada had ETH ETF for several years. The in-kind option is interesting as it reduces layers of complexity and additional costs. Is HK really the first to offer in-kind crypto ETFs?

Hot-Celebration5855

Those HK fund launches sure didn’t help today 😂. But it’s a long game

ardevd

How can the expectations be high? The HK ETF market is tiny, and most investors in Asia just buy spot Bitcoin anyway as they don’t have the same benefits by going for ETFs as they do in the US.

messisleftbuttcheek

People get heated over this and I don't have a dog in this fight but due to changes in HK leadership many people believe HK is effectively governed by China.

Financial_Design_801

ChinaAMC bitcoin ETF took in $123m on Day One which already ranks it 6th of 82 ETFs launched in past 3yrs in HK and Top 20% overall

Easy_Till1858

So the HK ETF is trading after US market close? Or is it already open?

ThinCrusts

Ok thanks that's what I thought. Wtf was OP trying to do lol it definitely didn't sound like they just mixed up China and HK..

MaxSmart1981

yes, it's only HK

ThinCrusts

I thought there was only a HK ETF

Defusion55

ETFs don't settle the underlying asset until t+1 so we haven't even seen the impact of the HK ETF yet. 

MaxSmart1981

anyone that thought it was going to be more doesn't know anything about the HK etf market

cuervo_gris

So HK ETF was a nothing burger for the first day. Barely 11 millions of trading volume

jwz9904

HK has let us down, can we count on the west? or will they provide the finishing blow

jwz9904

HK did a pump and dump on btc. must be china

sonastyinc

The Hong Kong ETFs are useless. Hong Kongers can open a US trading account with a few clicks of a mouse. I have a few friends in HK who already bought the BlackRock Bitcoin ETF. If they allow MPFs (HK's version of mandatory retirement funds) to buy the HK Bitcoin ETF, it would be another story.

pazsworld

Yeah, looking like this might be the case. HK really disappointed. Look out below! Bummer

just_another_jabroni

Chinese companies are in HK tho and that's how they are gonna get involved.

RandomNumbers8285

People actually thought tiny ass HK would drive the markets? Haven't been here awhile but that's a bit ridiculous lmao

b1mm3rl1f3

HK ETFs really did $11M out of the anticipated $300M? I’m waiting on the Laos powerball winner to save us atp

trowawayatwork

because their eyes are funny like the guys from China and HK. obviously..

Fun-Air-4314

Of course looking forward to this, but I suspect it won't impact the price of BTC much (perhaps in the long term only). Most of the investors who really wanted to get into BTC will have slowly found a way either through the US ETFs already in the last 3 months, and/or via exchanges overseas. The real money will be from select investors from EA and SEA who don't already have access to the US ETFs for whatever reason (most of the very rich will have dual nationality etc). So we might see a bump, but not huge. It was take a long time for mainland Chinese investors to have some sort of approval to invest in the HK ETF (if ever), and/or via institional investors who absorb mainland money through indirect products like life insurance.

Stunning-Project-621

How can I find it on trading view? What is the symbol of HK ETF?

skelesan

Man… I’m from Hong Kong and very involved with this kind of stuff, Hong Kong is not China but it is China’s. Chinese companies can just buy it through streams from Hong Kong, which a lot of them they already control anyway. A lot of big companies are moving out of HK for exactly this reason, HK is only different from China on paper. China has LOTS of power over our financial system

BingHongCha

This is incorrect. HK retail clients can buy through many brokers and even retail specific brokers are offering these products (Futu, Lihui, IB, etc.) People who have opened an account in HK with a HK ID can buy it, regardless if they have a mainland background or not. People who have opened an account with a HK/Macau Travel Permit (港澳通信证）cannot purchase it. This may represent a significant amount of people, as no broker will confirm what % of their clientele opened an account with what type of ID documents.

Walmart_Warrior_420

*"Nobody even knows where HK is"* - Peter Schiff ( ͡° ͜ʖ ͡°)

EnvironmentalLuck981

Why the downvote. He is not wrong. The HK ETF is not going to move the needle much. Simply not enough $ without mainland China.

Wise-Neat3888

Yes, that is a HKSE ticker 3009.HK

Financial_Design_801

Pump doesn’t start till Blackrocks IBIT passes Grayscales GBTC imo, $1.4 billion difference left As well as tracking HK & 🇨🇦 ETFs daily flows https://twitter.com/hodl15capital/status/1785132281050374537?s=46&t=ihVglVXC0BQSbw6j57EoaA https://www.hkex.com.hk/Market-Data/Securities-Prices/Exchange-Traded-Products/Exchange-Traded-Products-Quote?sc_lang=en (HK ETF live)

SuccotashComplete

My old roommate has family in HK and we spent a few hours talking about this. I think he was exaggerating but he said “basically every millionaire or billionaire wants to leave China, but the CCP will take most of their assets if they leave” Golden cage at its finest

Motor_bub1307

And HK ETFs opening today.

Simke11

I guess any future ETFs are all already priced in. HK one hardly made a blip.

FTX-SBF

What’s the HK equivalent of Burgers?

TexasBoyz-713

HK ETF’s begin trading in one minute, probably nothing burger, but more recognition for Bitcoin is always a good thing

spid3rfly

Between HK and the Morgan Stanley news, I think we're going to see that game theory happen right under our noses. I'd hate to be the last one to the party.

FTX-SBF

Are HK ETFs required to back their shares with actual btc?

Pinata_Econonics

Absolutely. Huge amounts of dark money flow through HK into the wider world from the PRC every day.

analogOnly

Singapore and Middle Eastern countries invest in HK entities and markets all the time. I'm sure there will also be a chunk of mainlanders that own property or entities in HK in which they will be able to invest.

DarthLiberty

Why would you want the HK ETF, we have ETF at home?

dirodvstw

Should we drop the bag before the HK ETF? I think we should brothers…..

SpargoSodalitas816

ETFs are just a milestone, the real game-changer will be when governments start using Bitcoin as a reserve asset. That's when the prices will really take off. Australia and HK are just the beginning.

johnjonesnewphone

What countries can buy into the HK etf?

jrafelson

9:30am HK time

jrafelson

So 6 hours before HK ETF goes live!?

1Lost_King1

Combine it with the HK etf [https://www.reddit.com/r/Bitcoin/comments/1cg3gid/hong\_kong\_etf/](https://www.reddit.com/r/Bitcoin/comments/1cg3gid/hong_kong_etf/)

bbiittccooiinn

HK market opens 9.30am

monoimionom

HK BTC ETF probably start tomorrow. AUS BTC ETF mater this year.

KonaBrad

Ooohhh, I had to look it up, HK is people's republic of China, not just a city in China. Stupid American here... Thanks

Onnimation

HK ETF's in 2 days! Things are starting to look juicy

kajunkennyg

China isn't doing an etf, HK is and china can't buy into it... it won't be a wave, barely a ripple.

bbiittccooiinn

I have a feeling there is going to be a nice candle today. ETF in HK launches in a little over 24 hours.

gemino616

Yes, on paper those Chinese citizens can't invest on those ETF. But there are so many short cut / back doors between HK & China. Btw, it's good timing before the mofo kicks in few months later.

irisuniverse

Seems low, they are apparently about 60% of US ETFs reachable market. If US ETFs have done $12b in net inflows in almost 4 months. So HK ought to do well over $5b in 1 year.

dracovich

Yeah, HK has always had access to basically any investment vehicle (us markets etc), while mainland has been very restricted, them moving money to HK is nothing new

HauntingBrick8961

I wonder how many BTC the HK ETF will consume in the first year of trading. $5b or so would be nice

dracovich

China has very strict regulations on outflow, there are roundabout (and illegal) ways, but it's not massive outflow, and if they're getting their money out that way they'd have access to all the investment vehicles in HK. So I don't doubt there will be some flow from mainland, but nothing crazy

KantCMe

HK markets dead af dawg. Besides, the avg mainland chinese cant rly buy btc if the etf isnt part of the northbound programme, aka connection to the chinese stock exchanges. Tbh, no diff. Rich ppl alrdy had access to blk btc etf, so they will keep buying from there instead of hk etf

jaraxel_arabani

Imo the fact Chinese retail can't buy officially with the southbound rails is the biggest middle finger to the ETFs in HK. I was surprised by that personally.

Kyrbie

They don’t need to. Since we are crabbing without much US inflow just a little HK inflow will have positive effect on price. Which may start the ball rolling. But in reality I’m also not expecting too much other than a few months of crab

cryowhite

What about the HK Etf coming this month while exchanges supply is super low ?

Tron_Passant

I think it's Hong Kong. Not sure why people keep saying China. I get that China claims HK but they are different financial networks 

Interesting_Ebb9052

They won’t buy same the USA is buying .. don’t expect too much of the HK ETF

sogladatwork

The richest rich in China will all own a piece of property in HK anyways, I suppose.

analogOnly

Chinese mainlanders are not allowed to participate in the ETF so.. just people in Hong Kong and globally than purchase the HK BTC ETF.

kungfu01

Doubt that, why would the HK etf cause the price to drop.

HauntingBrick8961

Could it be some sort of float to clear HK buys after Monday opening?

Low-Client-375

Not sure about HK but if wanted to buy American BTC ETF here in Canada I'd have to pay foreign investment tax. They may not have to do that now that it's available to them. Good thing Canada has had a tax sheltered BTC and ETH etf for years

UrU_AnnA

In my opinion it might reach between 90k-100k USD per BTC by the end of the year. Because ; 1. Fiat devaluation keeps inflating prices of everything else, including bitcoin. 2. Mining coinbase reward is 16 times less than thr first era. (50/25/12.5/6.25/3.125) 3. Meanwhile demand is all time high 4. ETF in US, HK and may be more 5. US election cycle creating incertainty 6. Rise of C.B.D.C.s 7. Economic War between USD and e-yuan

clicksanything

> In the US Gensler didn't allow in-kind redemption. Suppose the HK spot ETF starts trade and is wildly successful could this force downward pressure on US spot ETF to allow in-kind with time?

spid3rfly

I actually think there will be enough demand from the HK ETF next week that it'll absorb the rest of the Grayscale sells. That's me totally spitballing but I'm sure HK is coming with the funds.

lykewtf

Maybe a heads up that HK was going to approve the ETF like they just announced an hour ago…

Financial_Design_801

HK spot bitcoin ETFs officially approved to begin trading on April 30th https://twitter.com/jseyff/status/1783088747854311583?s=46&t=ihVglVXC0BQSbw6j57EoaA

Frogolocalypse

The reason why the bitcoin spot ETFs are popular in the US is because of the tax incentive. Not sure the same driver will exist in HK.

shakefistatsky

What I am realising is people dont actually know how big the HK stock exchange is, it has a larger market cap than the London, Toronto, Germany, Australian and Saudi stock exchanges.

doinkdoink786

While HK might not be as big as USA market, it’s important to notice that this will encourage Japan, South Korea, Singapore to all follow suit.

OccasionalXerophile

Remember, HK ETF approval on 30th April, allowing Chinese investors into BTC market above board. If that ain't bullish, I don't know what is. China has 3-4x US money supply

MercatorAureus

See it the same way as long term investment with Blue Chip stocks. Buy and hold. Bitcoins is digital gold and will stay so for many decades to come. Especially now with mega institutions getting late into the game, but with a lot of gun power. It’s my opinion that they will dominate the crypto market and push away retail investors like us. JP Morgan, Black Rock, Merrill Lynch, just to mention a few, finally realized that crypto was power to the ppl, so if they own it all, they will keep the control of the economy. And now China getting into it through HK with bitcoin ETF… as for me… I’ll HODL for ever. (This is my personal opinion, always consult with your registered FA or CPA for advice before doing anything)

BaseOk280

I need money for expenses so need some fiat to stay lol. Originally it was 90% as I bought last year. Idk what BTC is gonna be in 5 years, and anybody who tells you otherwise is lying. But for now, I am bullish, especially with US etfs and HK etfs following suit.

HauntingBrick8961

Its going to have a big impact on demand in my opinion - there is some serious wealth in HK, and the fact it was approved indicates mainland politicians supported it IMO, which is a serious shift from their previous stance (banning it).

Defusion55

the top 10 highest wealth families in HK have more money than like 95% of all Canadians combines. # population is irrelevant.

Wobbalabba776

I read they start trading 2 weeks after approval. Also I’m sure some folks in mainland will somehow find a way for their money to make it to HK

Defusion55

yup just HK, no mainland China unless that changes at some point

XXsforEyes

…and FASB changes, and BIS changes, and HK ETFs, and MiCA legislation and…. other positives OVER TIME, but it’s simply not going to blow the market cap to Pluto this cycle because - math. Low time preferences is your greatest ally here. I hope you’re ready I am.