- 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.
Read CRYPTONEWSLAND on
google news
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.
Read Also :
disclaimer read moreCrypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
