Global #Hong Kong

Following the recent introduction of a spot Ethereum ETF in Hong Kong, OkLink, a prominent provider of blockchain data services, has expressed optimism regarding the potential approval of similar products for other leading blockchain protocols in the future.

Hong Kong, a city known for its bustling finance scene, recently set the stage for a groundbreaking event: Ordinals Asia 2024. Held on May 10th and 11th, this conference served as a pivotal platform for exploring the burgeoning world of Ordinals – a revolutionary technology that allows users to permanently inscribe data directly onto individual Satoshis (the smallest unit of Bitcoin).

The success of these events paves the way for Hong Kong to solidify its position as a leader in the Asian crypto landscape. As the industry continues to evolve, future events in the city can be expected to explore groundbreaking concepts, foster collaboration, and shape the regulatory environment for cryptocurrencies in the region.

Following bitcoin's decline below $61,000 on Friday, spot bitcoin and ether exchange-traded funds (ETFs) listed in Hong Kong experienced significant outflows on Monday.

Hong Kong is rapidly becoming a major player in the Web3 space, and a recent panel discussion at Ordinals Asia explored why. Moderated by Yvonne Ye, the session featured prominent figures like Evan Auyang, Yat Siu (Animoca Brands), David Bailey (Bitcoin Magazine), and representatives from Cyberport and Punk8185

Ordinals Asia, held in Hong Kong on May 10th and 11th, 2024, served as a landmark event, bringing together the brightest minds from the East and West to explore this groundbreaking technology.

Harvest Global Investments, the firm behind the introduction of Hong Kong's first Bitcoin and Ethereum ETFs, is planning to extend these investment vehicles to mainland Chinese investors through the Hong Kong Stock Connect.

Three Asian-based companies have collaborated to introduce Hong Kong's inaugural ETF liquidity fund, valued at approximately HK$1 billion (equivalent to about $128 million), as per a statement released on Wednesday.

Richard Byworth, Managing Partner at SyzCapital, has sparked speculation regarding the accessibility of Bitcoin ETFs listed in Hong Kong to investors from mainland China.

Yong Rong Asset Management, a prominent asset management firm headquartered in Hong Kong, has recently made a substantial investment in the Bitcoin Spot ETF, as confirmed by Bloomberg ETF analyst Eric Balchunas.

The current dip in Bitcoin BTC bears some parallels to the cryptocurrency's behavior following the debut of the US ETF in January.

Hong Kong issuers of exchange-traded funds are unconcerned about the US crackdown on cryptocurrencies leading regulators to label Ether ETH as a security.