Mainland Chinese citizens will not be able to purchase Bitcoin and Ether ETFs in Hong Kong because mainland China banned crypto transactions years ago.
The upcoming launch of spot Bitcoin (BTC) and Ether (ETH) exchange-traded funds (ETF) in Hong Kong will not open up the market for investors in mainland China, according to Bloomberg data analyst Jack Wang.
Following Hong Kong’s approval of spot BTC and ETH ETFs, the three Chinese asset managers including China Asset Management, Harvest Global Investments and Bosera set the spot crypto ETFs through their Hong Kong subsidiaries on April 30.
Though the ETF issuers have close ties with mainland China, they will not be able to provide Bitcoin or Ether exposure to investors in that jurisdiction.