Hello friends,
I am doing good, and I hope you are having a good time with your near and dear ones.
It's been a while since I posted last so today I got some time to look around at what is happening in this market. Alright stopped by update which is related to ETF for Bitcoin and Ethereum in Hong Kong. Such big news it is because now in the Asian market we have an ETF listing for crypto. Hong Kong is the second country after us to allow exchange-traded funds for Crypto. It's a very good moment for the crypto industry and it will surely drive for more money inflow. More money is going to be good for the entire crypto market. I like this news very much and I hope many of you would also agree with my thought.
Many good things are happening in the crypto market. We can say that we are in a better situation in this market or maybe we are at the edge of the bull market that is about to start soon. We should be happy that with the ETF and many other good things happening in this market, more people are legitimately getting access to crypto. Especially if we talk about institutional investors then this ETF is going to be a very big game. Usually, companies don't like to invest through exchanges but maybe OTC is good for them. Now with ETF, it is going to be an easy way for them that to do a legit way where any company can invest in Crypto.
Hong Kong’s first spot cryptocurrency exchange-traded funds started trading on Tuesday, as the Asian financial hub takes on the US in the race to dominate the growing market.
Hong Kong is trying to have more influence in the Crypto market because I believe this country has realized the good value. As of now, Dubai is the place where crypto innovations are encouraged and this is why many crypto companies and influences are moving to this country. Its very important to provide a favorable environment to this industry so that it can grow faster. Bringing this type of product itself creates a positive environment and is very good for the overall global industry. Maybe in the future many companies will consider Hong Kong as a country to set up their business. This is also going to be a good opportunity for the country and altogether a good move by Hong Kong.
I am hoping that many other countries can follow this as an example and they also work around to launch ETF for crypto in their country. I am from India and things are not good here to be honest there is no clarity if we are going to have such things coming up in the next few years. We're still struggling with taxation and many other basic services for crypto so expecting etf is a big thing. It would be good if it happens in the next few years but it is hard to imagine at this point in time.
Thank you
Peace @mukund123
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