MicroStrategy, an American software company known for pioneering the addition of Bitcoin to its corporate balance sheet, is further immersing itself in the Bitcoin ecosystem. During the MicroStrategy World conference in Las Vegas, Michael Saylor, the firm’s co-founder...
Several Bitcoin developers are outraged at a fellow enthusiast who admitted to “griefing” one of Bitcoin’s testnets by generating three years' worth of blocks in a week. This caused some developers to pause the applications they were testing,...
![As spot crypto exchange-traded funds (ETFs) debuted on the Hong Kong stock market, they potentially paving the way for Chinese investors to enter the cryptocurrency space. Some stakeholders in the Chinese financial industry, including China Asset Management’s CEO, Yimei Li, shared this sentiment. The introduction of these ETFs has sparked optimism among fund issuers and investors, hinting at the possibility of increased capital inflows from mainland China in the future. Li told Bloomberg TV that the launch of spot Bitcoin and Ether ETFs on April 30 "opens the door for a lot of RMB [Chinese yuan] holders" seeking alternative investments. China Asset Management, along with Harvest Global Investments and Bosera Asset Management, are the three ETF issuers that introduced crypto products on the Hong Kong Stock Exchange. RELATED: Hong Kong Set to Welcome Crypto Spot ETFs as Three Issuers Secure Regulatory Approvals While these ETFs are currently restricted to Hong Kong residents, Li expressed hope for mainland Chinese investors to participate in the future, stating, "As the opening up progresses, we definitely hope that multi-assets will be available for domestic investors." Crypto trading is prohibited in mainland China, but the new ETFs offer an investment avenue for those in Hong Kong. Harvest Global CEO Han Tongli noted in a different interview with Bloomberg that regulators are closely monitoring the ETFs' development to ensure risks are contained, indicating a potential gradual opening of the market. Jan3 CEO and Bitcoin pioneer Samson Mow commented on the significance of these ETFs, stating on X on April 30 that they "are going to be big" and could have "massive" long-term implications, as there are limited investment options for Chinese investors currently. In his words: “There is really nothing else for Chinese investors to put their money into at this time.” The remarks are in reaction to a statement by Bitcoin environmentalist Daniel Batten, who noted that all three Chinese stock exchanges experienced declines in 2023, and the real estate market remains unstable. However, mainland Chinese investors are currently barred from investing in Hong Kong's new ETFs, as confirmed by China Asset Management's Zhu Haokang. He mentioned that only qualified investors, institutional investors, retail investors, and international investors who meet the regulations can invest in cryptocurrency spot ETFs in Hong Kong. If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community. "Take control of your crypto portfolio with MARKETS PRO, DeFi Planet's suite of analytics tools.”](https://defi-planet.com/wp-content/uploads/2024/04/naira-350x250.jpeg)
As spot crypto exchange-traded funds (ETFs) debuted on the Hong Kong stock market, they potentially paving the way for Chinese investors to enter the cryptocurrency space. Some stakeholders in the Chinese financial industry, including China Asset Management’s CEO,...
The United States' legal action against crypto mixer Tornado Cash and its developer Roman Storm has been labelled as a "disregard for privacy" by DeFi Education Fund's Amanda Tuminelli. The DeFi Education Fund and Tuminelli, who leads the...
Gas fees on the Ethereum network have plunged to a six-month low, even as the price of Ether rallied slightly over the weekend, prompting crypto analytics platform Santiment to suggest a potential upcoming altcoin rally. According to an...
In an exceptional turn of events, a single Bitcoin miner has defied the odds by successfully solving a Bitcoin block alone, claiming the full 3.125 Bitcoin (BTC) block reward. This accomplishment was announced by Con Kolivas, a software...
Australia's primary stock exchange, the Australian Securities Exchange (ASX), could approve several spot Bitcoin exchange-traded funds (ETFs) by year-end, according to a report from Bloomberg. Following in the footsteps of fund issuers in the United States and Hong...
Chinese authorities have launched an investigation targeted at Yao Qian, a leading pro-blockchain government official, on suspicion of legal violations, according to a report by the local news outlet, the Shanghai Securities News, on April 26. According to...
In the United States, a significant crackdown is underway on individuals involved in buying and selling child sexual abuse material (CSAM) using cryptocurrencies. U.S. Senators Elizabeth Warren and Bill Cassidy are leading efforts to ensure that federal agencies...
Marathon Digital, a leading Bitcoin mining firm, has announced a significant increase in its 2024 hash rate target, aiming to reach 50 exahashes per second (EH/s). According to the Hashrate Index, Marathon's Bitcoin mining hash rate is currently...
