Will China Asset Management Company’s application for Bitcoin spot ETF through Hong Kong cause another gold rush?

According to a report from the Chinese official media “Securities Times,” multiple fund companies in China are applying for the establishment of Bitcoin spot ETFs through their Hong Kong subsidiaries. It is possible that the issuance of Bitcoin spot ETFs will be seen as early as the second quarter. The recent boom in Chinese gold investment has also led to the suspension of trading for gold ETFs for the second time, with a premium of up to 30%. Therefore, it is estimated that with the sluggish stock and housing markets in China, a large amount of capital has nowhere to go. The issuance of Bitcoin spot ETFs may create another wave in Asia.