ExTraders GlobalExciting news from Harvest Hong Kong, one of China's major fund management organizations! On January 26, they officially applied for a spot Bitcoin ETF with the Hong Kong SFC. The report indicates their active efforts to fast-track approval for Hong Kong's inaugural spot Bitcoin ETF post the Spring Festival. A significant move in the crypto landscape. #HarvestHongKong #BitcoinETF #Bitcoin #HongKongSFC #CryptoNews #ETFApproval #Blockchain
joapenRelated to Bitcoin's ETF, I though the incentive was valid after a 2nd crypto was going to be approved by the SEC.
I was wrong
There is a short term incentive: commissions.
In US, many lobbies have been against #Coinbase for years, this ETF is giving the big whales of Wall Street an entry to the crypto world.
Incentives, as usual, the tension right now (using Porter's 5 forces terminology) is in the custody and safety
#ETFApproval
Thomas Wüst