Bloomberg analysts have updated their ideas for Bitcoin and Ethereum ETFs in Hong Kong. They expect that these Asset Under Management (AUM) flows will total at least $1 billion over the next two years.
Balchunas later tweeted about some of the significant issues that investors in the region may face. China has strict cryptocurrencycurrency regulations, making it difficult for mainland users to participate appropriately.
This represents a huge increase above Eric Balchunas, a senior ETF analyst at Bloomberg, who previously predicted $500 million.
This move has also prompted large corporations, such as ChinaAMC, to create spot ETFs, which are likely to drive significant growth in Hong Kong’s cryptocurrencycurrency ETF sector.
Upgrades to Hong Kong’s financial infrastructure, particularly in terms of cryptocurrency assets, will be required to reach the $1 billion AUM milestone. Currently, the total AUM of Bitcoin ETFs in the region is $250 million for those that have been established.
Read also: Hong Kong Approves First Spot Bitcoin and Ethereum ETFs
