China and crypto ETFs, the Thai NFT music festival, KuCoin's 1.3 million new robots: Asia Express

OUR weekly summary of news Since East Asia curators THE industry most important developments.

Hong Kong new Bitcoin And Ether AND F

Hong Kong Securities & Futures contracts Commission has approved place Bitcoin And Ether ETF.

But will they open A river of gold Since Asian Investors, Or will they simply be A spot on THE radar of THE finance world?

Social media dived up It is ears has THE news that Hong Kong ramifications of Chinese active managers Harvest Funds Management, Bosera Active Management, And China Active Management (ChinaAMC) are among THE First of all has kick their crypto active AND F.

Bosera will launch It is place crypto AND F In collaboration with Hong Based in Kong Sharp touch Capital. OSL Digital Securities, A allowed digital active platform In Hong Kong, will act as THE sub-custodian For both ChinaAMC And Harvest. Contrary to their United States counterparts, Hong Kong crypto AND F can adjust both In decree money And in nature, allowing users has redeem their ETFs assets directly For Bitcoin And Ether.

"This mechanism improved walk liquidity by allowing THE direct exchange of THE active For ETFs actions, reduce addiction on species colonies And facilitate uninterrupted trade flows," said Patrick Stove, CEO And president of OSL.

THE Action Exchange of Hong Kong needs about two weeks has finalize SEO procedures And other provisions After THE SFC approval.

On April 18, local financial technology farm Eddid Financial became THE third approved securities farm For crypto ETFs trade services. Specifically, Eddid Financial will provide virtual active trade And product distribution services has general retail investors And facilitate THE creation And redemption of crypto ETFs units.

While there are savage predictions THE new AND F could open up has $25 billion value of influx, not everyone East bullish.

" Continent China investors probably won't be eligible has buy Hong Listed in Kong place Bitcoin And Ether AND F as they are rod Since purchase virtual assets," Bloomberg ETFs analyst Eric Balchunas.

Currently, there exist A $50,000 annual For Chinese residents has transfer money out of Continent China has places such as Hong Kong.

So, due has THE lack of to access For Chinese Investors, Balchunas predicted that Hong Kong crypto AND F can attract just “$1 billion In two years," compared with has THE on $50 billion Currently managed by WE. place Bitcoin AND F. THE United States has Again has approve A place Ether ETFs, which East focused towards .

< /p> David Bailey on X.

KuCoin roll Coaster T1

Cryptocurrency exchange KuCoin has had A savage First of all quarter.

In THE Exchanges last T1 2024 report, THE farm disclosed that It is registered users exceeds 32 million, up 4.32% Since T4 2023, And It is place trade volume jumped 122% on THE even period. Users created 1.3 million custom trade the robots In T1, with on $5 billion In trade volume.

Earlier This week, THE exchange It is users THE First of all part of A $20 million airdrop as compensation For temporary withdrawal delays After THE the company criminal charge by prosecutors of THE WE. From South District of New York as GOOD as civil charges deposit by THE WE. Merchandise Futures contracts Trade Commission (CFTC). KuCoin airdrop was Also enlarged has $20 million Since A .

"In 5 days, there will be ten Sleeves of airdrops value $20 million credited has 3 million users," KuCoin staff . Airdrop values range Since 1 has 2,000 In Attached (USDT) equivalents.

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