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Hong Kong Likely To Allow In-Kind Creations for Spot Bitcoin ETFs: Bloomberg

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Helene is a New York-based reporter covering Wall Street, the rise of the spot bitcoin ETFs and crypto exchanges. She is also the co-host of CoinDesk's Markets Daily show. Helene is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.

This could potentially pave way for a massive investor base across China to enter the crypto market.Hong Kong’s financial regulator, the Hong Kong Securities and Futures Commission , is likely to allow in-kind creations and redemptions for spot bitcoin ETFs in the second quarter of this year, according to a report from Bloomberg Intelligence.

Though no spot ETF has yet been approved, it seems likely that it's just a matter of time, according to Bloomberg Intelligence ETF analyst Rebecca Sin. In-kind redemptions are the more frequently used method by ETFs as the underlying asset doesn’t actually have to be sold. It's therefore preferred by investors and issuers for cost, tax and liquidity reasons.

If Hong Kong indeed approved in-kind redemptions for spot bitcoin ETFs, it would be"huge," said Noelle Acheson, author of the “Crypto is Macro Now” newsletter.

 

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