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Cathie Wood’s Ark Invest collected chip-making and tech stocks in its latest buy on Monday. The firm’s stock collection has been relying more and more upon tech and chip makers given that the earnings season could bring a potential upside to these stocks. Cathie Wood’s Ark Invest Buys BYD, META Shares Out of all the The post Cathie Wood’s Ark Invest Banks on Chip, Tech Stocks in Latest Buy appeared first on CoinGape .

Cathie Wood’s Ark Invest Banks on Chip, Tech Stocks in Latest Buy

Almost five months after the US approves spot Bitcoin ETFs for trading, Asia follows.

Spot Bitcoin ETFs Commence Trading in Hong Kong

Cardano price: The Bitcoin price correction below the $62000 level on Monday accelerated the supply pressure in most of the major cryptocurrencies including Cardano. The ADA price showcased a downswing from $0.52 to $0.44 registering a weekly loss of 14.45%. The altcoin currently hovering above the combined support of 61.8% Fibonacci retracement level and $0.445 The post Cardano Outperforms in Whale Activity — What This Means for ADA Price appeared first on CoinGape .

Cardano Outperforms in Whale Activity — What This Means for ADA Price

With the debut of spot bitcoin and ethereum exchange-traded funds (ETFs) in Hong Kong trading on Tuesday, market observers are speculating about the potential demand for these ETFs in the region, reminiscent of the enthusiasm seen in the U.S. following the approval of 11 spot bitcoin ETFs on Jan. 10. Zhu Haokang, head of digital

China Asset Management Exec Anticipates Hong Kong Spot Bitcoin ETFs to ‘Exceed’ US Debut

Hong Kong's new Bitcoin and Ethereum ETFs are set to begin trading, with expectations to surpass the US's initial ETF scale. The post Bitcoin, Ethereum spot ETFs start trading in Hong Kong with high expectations appeared first on Crypto Briefing .

Bitcoin, Ethereum spot ETFs start trading in Hong Kong with high expectations

The eagerly anticipated Hong Kong Bitcoin ETF market is scheduled to commence trading on Tuesday, marking a significant milestone in the increasing adoption of the leading cryptocurrency and building upon the success of the US ETF market. With their approval, the newly regulated index funds are poised for a noteworthy debut, surpassing the first-day inflows in the United States. HK Bitcoin ETF Market Poised For Record-Breaking Debut Zhu Haokang, the Digital Asset Management Supervisor and Family Wealth Supervisor at Warsaw Fund expressed great confidence in the trading volume of Hong Kong Bitcoin ETFs on its inaugural day. This volume exceeded the scale achieved during the US launch on January 10th of this year, which amounted to over 125 million US dollars. Related Reading: Crypto Analyst Says Altcoins Are About To Enter A Parabolic Curve, Here’s Why Haokang further stated that Huaxia, one of the three ETF issuers, is confident in becoming the largest ETF issuer on the first day of trading. At the same time, OSL, a digital asset platform, has already completed the initial fundraising with two funds, including Huaxia. Furthermore, the capital inflow during the Hong Kong spot Bitcoin ETF’s first-day listing transaction has surpassed that of the US spot ETF market. According to Haokang, this difference can be attributed to two factors: the purchase and redemption of spot and in-kind transactions, which are unavailable in the US spot Bitcoin ETF. Unprecedented Investment Options One unique aspect of the China Summer Fund’s Hong Kong spot ETF is its incorporation of Hong Kong dollars, US dollars, and dual counter offers (RMB counters), distinguishing it from the other two offerings. Additionally, the fund features a non-listed share alongside the listed share, further setting it apart from its counterparts. Given the physical purchase method, investors, including Bitcoin miners, can directly acquire the Hong Kong virtual asset spot ETF using the Bitcoin they already hold. Moreover, outreach efforts have reportedly been made to attract investors from countries and regions without ETF offerings, such as Singapore and the Middle East, generating significant interest. Despite the substantial market size of the current US spot Bitcoin ETF market, Hong Kong’s utilization of cash and in-kind subscriptions, coupled with the appeal of open trading during Asian market hours, is expected to attract numerous American investors, according to Haokang. Mainland Chinese Investors Restricted Wayne Huang, OSL ETF and Trusteeship Business Manager, highlighted that Victory Securities could facilitate physical purchases, and the winning securities in China can also leverage OSL’s support. Three vouchers enable physical purchases, with more expected to follow suit. Following the ETF’s listing, various voucher chambers of commerce are likely to participate, increasing the overall ecosystem of the Bitcoin ETF market in May. Related Reading: Ethereum Fees Dive: Will This Spark A Surge In Network Activity? On the other hand, Zhu Haokang also clarified that mainland Chinese investors are currently restricted from investing in Hong Kong’s spot ETF market. However, qualified investors, institutional investors, retail investors, and qualified international investors in Hong Kong can participate in the spot ETF race. Individuals seeking further details are advised to consult voucher providers and sales channels while closely monitoring potential regulatory adjustments and the development of a specific regulatory framework in the future. Currently, BTC is trading at $63,000 after failing to consolidate above the key $66,000 level in recent days. However, the launch of the ETF market in Hong Kong is expected to significantly impact the price of BTC in the long run. Featured image from Shutterstock, chart from TradingView.com

Hong Kong Bitcoin ETF Readies For Stellar Debut, Expected To Outshine $125M US Launch

Morgan Stanley, the American multinational investment bank, has filed a submission with the U.S. Securities and Exchange Commission (SEC) to permit the exposing of Bitcoin ETF to about a dozen of it investment funds. This strategy seeks to diversify their clients’ investment strategies by including the fast-growing cryptocurrency market. Funds Targeted for Bitcoin ETF Inclusion The post Breaking: Morgan Stanley Files to Expand Bitcoin ETF Access to 12 Funds appeared first on CoinGape .

Breaking: Morgan Stanley Files to Expand Bitcoin ETF Access to 12 Funds

Investors in the cryptocurrency market seem stuck between a rock and a hard place. On one hand, the market shows weakness after Bitcoin halving, signaling an upcoming sell-off, on the other hand, a long-term bullish outlook is likely forming. The latter end of the bargain is one of the factors keeping investors steadily holding onto The post 2 Crypto To Buy To Complete $1M Portfolio In May appeared first on CoinGape .

2 Crypto To Buy To Complete $1M Portfolio In May

In April alone, business intelligence and software company MicroStrategy acquired an additional 122 units of Bitcoin (BTC) worth about $7.8 million MicroStrategy Keeps Growing Its BTC Portfolio MicroStrategy’s Michael Saylor announced that the last acquisition brings the firm’s Bitcoin holding to a total of 214,400 BTC. This news was unveiled in addition to MicroStrategy’s Q1 The post Breaking: MicroStrategy Bags 122 Bitcoin To Expand Its Portfolio appeared first on CoinGape .

Breaking: MicroStrategy Bags 122 Bitcoin To Expand Its Portfolio

Financial giant MicroStrategy (MSTR) on Monday reported disappointing first-quarter 2024 results. A digital impairment loss made the company miss market estimates and swing to losses in the first quarter of the year. MicroStrategy’s results gave a larger idea about the crypto sphere and what firms in the sector might be going through. MicroStrategy Sees A The post MicroStrategy (MSTR) Reports Losses in Q1 After Digital Asset Impairment Hit appeared first on CoinGape .

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