Bitcoin Conference Attracts Mainland Chinese
Date
5/12/2024 3:25:43 PM
(MENAFN- eTrendy Stock) Interest in bitcoin-related technologies has soared this year in Asian markets with supportive policies, like ETFs. The recent Bitcoin Asia conference in Hong Kong drew a substantial crowd from mainland China.
Per a report from South China Morning Post, the conference which was held on May 9 and 10 had in attendance about 5,500 delegates excluding door registrations. However, the attendees were different from those at the larger Bitcoin Conference in the US. This statistics shows the increasing interest in Bitcoin from Asians.
Bitcoin Asia Conference Draws Mainland Chinese Attendees in Hong Kong
Regarding the just-concluded conference, David Bailey, co-founder and CEO of BTC Inc., estimated that about half of the attendees at the Bitcoin Asia conference in Hong Kong were from mainland China. The strong interest in the conference stemmed from Hong Kong's recent introduction of spot bitcoin and ether exchange-traded funds (ETFs), alongside a surge in layer 2 project development.
Attendees expressed optimism about Hong Kong's supportive cryptocurrency policies, hoping to attract investors from mainland China, where commercial crypto trading is prohibited. Notably, Hong Kong's new ETFs allow in-kind subscriptions, enabling purchases with bitcoin and ether, a feature hailed by investors.
The Hong Kong government's support for cryptocurrency initiatives is evident through its invitation to host the BTC Conference's Asia event and the organization of various Web3-related events.
Hong Kong Crypto ETFs Eye Mainland Investors
Recent reports show that Chinese fund house Harvest Global Investments has confirmed its plans to attract mainland Chinese investors through the Hong Kong Stock Connect.
Meanwhile, Hong Kong customs officers have taken three individuals into custody for their involvement in a significant money laundering operation worth HK$1.8 billion ($228 million). The operation on hold utilized a cryptocurrency platform and bank accounts associated with shell companies.
Also, Hong Kong has pioneered cryptocurrency investment avenues by launching six spot BTC and Ether exchange-traded funds (ETFs).
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