Today the rate has strengthened significantly
The Securities and Futures Commission (SFC) of Hong Kong has authorized trading of the first spot ETFs based on Bitcoin and Ethereum cryptocurrencies.
Hong Kong city became the first jurisdiction in Asia to allow the trade of such products. Permission was received by the Hong Kong division of the China Asset Management fund – ChinaAMC (HK). Its partners in the launch of such products will be OSL Digital Securities Limited and BOCI-Prudential Trustee Limited.
At the end of the year, China Asset Management's assets amounted to $266 billion. This permission is expected to attract more than $25 billion in Bitcoin ETFs alone, which in turn will cause another surge in the rate. Trading should begin in a couple of weeks.
And halving is expected on April 20, after which the Bitcoin rate may also increase in the medium and long term.
Over the weekend, the BTC rate fell to $60,000, but today it rose to $66,500.