EigenLayer, an Ethereum restaking protocol, has surprised the crypto community with a significant expansion of its token airdrop program. The protocol announced that it would distribute an additional 28 million EIGEN tokens to over 280,000 wallets just days...
Hong Kong's newly launched spot Bitcoin exchange-traded funds (ETFs) are struggling to match the selling and buying pressure of their United States-based counterparts. The debut of the first batch of Hong Kong Bitcoin and Ether-based ETFs on April...
On May 1, 2024, Bitcoin mining firm Riot Platforms published its 2024 first-quarter financial results report, revealing a net income of $211.8 million—a 1,000% increase from last year. The company's success was driven by a 55.4% spike in...
DeFi lending protocol Aave developer Aave Labs has revealed its ambitious roadmap for the protocol's future evolution. The firm published a proposal on May 1 2024 that outlines plans to upgrade the protocol to its next-generation version 4,...
BlackRock’s iShares Bitcoin Trust experienced its first-ever outflow day during the trading ending May 1, 2024. According to data from Farside Investors, the spot Bitcoin ETF ended the day with a significant $36.9 million flowing out of its...
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...
