TL;DR
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Now that we’ve seen spot Bitcoin Exchange Traded Funds (ETFs) launch in the US market, other major markets are following.
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Hong Kong has just gotten its first BTC ETF application, after local regulators said they were ready to consider applications for spot crypto ETFs.
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The more large stock markets allow for the purchase of Bitcoin → the more likely Bitcoin is to be bought up over time → shrinking the supply and increasing demand.
Full Story
You know how real estate agents will harp on about a property’s proximity to schools, public transport, grocery stores, restaurants etc.?
The more a locale can offer → the higher the likelihood of you investing your money there.
Well, same goes for stock markets.
The more financial products (aka companies and funds) that a stock market lets investors buy-in to → the higher the likelihood of investment → the more valuable that local stock market becomes.
And now that we’ve seen spot Bitcoin Exchange Traded Funds (ETFs) launch in the US market, other major markets are following.
Namely, Hong Kong, which has just gotten its first BTC ETF application, after local regulators said they were ready to consider applications for spot crypto ETFs.
Here’s why this is important:
Hong Kong ain’t a small market! Its stock exchange has a cool $31 trillion sloshing around in it.
The more large stock markets allow for the purchase of Bitcoin → the more likely Bitcoin is to be bought up over time → shrinking the supply and increasing demand.
Here’s the math on that:
Supply decreases + demand increases = number go up.
(Or so we’ve been told).
