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Director of the Hong Kong Youth Current Affairs Commentators Association: Hope to establish a cryptocurrency index exclusively for Hong Kong on the H

CointimeCointime2024/05/07 09:25
By:Cointime

Feng Peixian, a commentator on current affairs in Hong Kong, stated that in recent years, Hong Kong has actively developed Web 3.0 to help with its transformation. The most noteworthy aspect of this virtual currency ETF is that Hong Kong is the first city in the world to accept it as a physical ETF. ETH, as a cryptocurrency that closely follows BTC in scale, has advantages in the ETF market. If investors do not prefer to invest in BTC ETF, they can still choose to invest in ETH ETF, which is more diversified than the United States.It is hoped that this batch of virtual currency ETFs will attract more funds to invest in Hong Kong and expand investment to other products, encouraging more companies to establish ETFs in the long run, allowing Hong Kong to return to its investment peak. In the future, when virtual currency ETFs mature, it is hoped that they can be included in the interconnection between Hong Kong and mainland China. Currently, all cryptocurrency physical ETFs listed in Hong Kong track the CF BTC index and the CF ETH index of the Chicago Mercantile Exchange (CME). Some believe that even investing in ETFs listed in Hong Kong can help push up the CF index of the CME. If ETFs listed in Hong Kong have a large enough base in the future, it is hoped that a Hong Kong cryptocurrency index can be established on the Hong Kong Stock Exchange to track the Hong Kong cryptocurrency index as an investment target, helping Hong Kong become a cryptocurrency trading center.

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