- According to Justin Sun, China is legally launching a BTC features ETF.
- The ETFs will make the investment in cryptocurrencies accessible to individual investors in China.
- China funds aren’t the only area of ETFs seeing growth.
Justin Sun, the creator of Tron, has recently suggested in a tweet that China is potentially launching a futures exchange-traded fund (ETF) for Bitcoin. This has been seen as a step in the direction of the implementation of Justin’s ecosystem (Tron) throughout the nation.
The goal of these exchange-traded funds (ETFs) is to make investment in cryptocurrencies accessible to individual investors in China. This will also improve access for those who are uncomfortable investing directly in cryptocurrencies. Additionally, this access may be gained without the need to physically own any cryptocurrency.
In a similar spirit, Pando Finance, a Hong Kong-based asset management firm, has introduced an exchange-traded fund focused on the blockchain. People with knowledge of the situation say that this is an effort to let ordinary people acquire “minimal risk” exposure to the cryptocurrency market less than a month after the bankruptcy of the cryptocurrency exchange FTX.
The significant ETF launches are mostly attributable to the country’s loosened COVID regulations. It has been suggested that this kind of adoption might serve as a hedge against the probability of a recovery from the setbacks caused by the pandemic in recent months.
In an interview with CNBC, Tom Lydon, editor, and publisher of ETF Trends said that China funds aren’t the only area of ETFs seeing growth. On December 16th, CSOP Asset Management will have Bitcoin and Ethereum ETFs listed on the Hong Kong Stock Exchange.
CSOP must find a third party to act as custodians for the Bitcoin and Ethereum it holds. The regulatory body will properly oversee the ETFs so that investors’ money is protected from any market manipulations.
