Just two hours ago, Bitcoin spot ETF products started trading in the jurisdiction of Hong Kong.
As we know, the Hong Kong regulatory bodies approved Bitcoin & Ethereum spot ETF applications a week ago. Now three of the all approved crypto spot ETF products started trading on the stock exchanges.
It means all Hong Kong citizens are allowed to purchase Bitcoin & Ethereum indirectly via these ETF products also, without taking tension of crypto funds custody.
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SPOT #BITCOIN ETFS COMMENCE TRADING IN HONG KONG. pic.twitter.com/G2w3tfb9fu
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A Hong Kong-based Chinese crypto blogger Colin Wu also shared some insights on these live crypto ETF products and said that foreigners can also purchase these ETFs but they are required to follow the due diligence compliance.
In short, people who are not living in Hong Kong can buy BTC & ETH spot ETF on the condition of verifying their full identity with the corresponding authorities.
However, all information about these crypto ETFs came to the public domain with full clarity but the majority of the people are still confused over the ability of the mainland Chinese population to access these products.
As we know Hong Kong is a special administrative region of China and it has deep ties with mainland China, despite having isolated regulatory bodies, ruling government, and sovereign fiat currency.
All these factors raised questions about whether China will allow its citizens to purchase these crypto-linked ETFs or not.
On one side Hong Kong is open to offering Crypto spot ETF investment for foreigners but on the other side crypto is fully banned in the jurisdiction of Mainland China & also citizens are prohibited from participating in any kind of crypto-related activities.
This is also a bitter truth that huge numbers of the Mainland Chinese population visit Hong Kong to get jobs in crypto companies, & also to buy cryptocurrencies in offline stores, so there are huge chances that mainland Chinese investors will create some ways to access these crypto ETFs.
Read also: Trust crypto wallet sorts out its conflict with the Google Play Store
Bitcoin spot ETF starts trading in Hong Kong, foreigners also can trade
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