Global #Hong Kong

rypto fans are anticipating the introduction of spot exchange-traded funds linked to Bitcoin in Hong Kong tomorrow with great anticipation, and the ETF craze is still going strong.

For some industry insiders, the much-awaited approval of spot Bitcoin exchange-traded funds (ETFs) in Hong Kong earlier this week marks a major turning point. Some caution that the optimistic event may be overshadowed by stronger market dynamics, such as ongoing inflation and geopolitical risk.

Whales of Ethereum (ETH) have started buying in bulk, with huge wallet holders amassing sizable holdings of the cryptocurrency. This action is a reaction to the recent decrease that most cryptocurrencies had over the weekend, including ETH.

According to CoinDesk Indices data, several Hong Kong issuers have announced that they have been licensed for spot cryptocurrency exchange-traded funds (ETFs). As a result, Bitcoin (BTC) has increased 2.8% in the last 24 hours, trading above $66,500, and ether (ETH) has climbed to $3,240.

A trading frenzy is set off by the U.S. approval of spot Bitcoin ETFs, which prepares the ground for Asia's growing institutional interest.

On April 15, the securities regulator for Hong Kong plans to approve the first set of Spot Bitcoin ETFs.