Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.
Mainland Chinese investors could pour $25 billion in potential Hong Kong-listed spot bitcoin exchange-traded funds through the Southbound Stock Connect program, according to Matrixport.
Hong Kong, one of the world’s leading financial centers and a gateway for outbound Chinese investments, is set to approve a spot bitcoin exchange-traded fund tied to bitcoin . The estimate is based on a blue sky assumption that the average amount of the unused annual Southbound connect quota over the past three years would be channeled into the spot ETFs.
"Hence there is potentially HK$100 billion to HK$200 billion in quota left for bitcoin ETF investment flows – if the approval occurs without any restrictions. HK$200 is the equivalent of $25 billion," Matrixport explained.As of this writing, it's unclear whether the impending spot ETFs will be open for mainland Chinese investors. That said, mainland China seems interested in diversifying into alternative assets, as evidenced by the recent surge in gold prices in Shanghai.
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