'China is about to start bidding' — Will Hong Kong Bitcoin ETFs spark the halving rally?

The imaginable support of the archetypal batch of spot Bitcoin exchange-traded funds (ETFs) successful Hong Kong could beryllium a large catalyst for Bitcoin’s (BTC) halving rally, commentators say.

Hong Kong could o.k. 4 Bitcoin ETFs earlier halving

The Securities Regulatory Commission of Hong Kong (SFC) could o.k. the archetypal batch of spot Bitcoin ETFs by April 15, days earlier the Bitcoin halving is acceptable to chopped the proviso issuance complaint of BTC.

The Hong Kong regulator has reportedly accelerated the support process for 4 spot Bitcoin ETFs, according to section quality media reports. The imaginable support could pull much buying request for Bitcoin, by offering BTC vulnerability to some retail and organization investors successful Hong Kong.

Hong Kong regulators could o.k. some Bitcoin and Ether ETFs connected April 15, according to crypto entrepreneur and capitalist Lark Davis, who wrote successful an April 12 X post:

“Hong Kong apt to o.k. BOTH Bitcoin and Ethereum spot ETFs arsenic soon arsenic Monday! China is astir to commencement bidding the aforesaid week the Bitcoin halving is happening!”

It volition instrumentality astir 2 weeks to finalize ETF listing procedures connected the Hong Kong Stock Exchange, aft the securities regulator greenlights the archetypal acceptable of spot Bitcoin ETFs.

Related: How precocious tin Bitcoin go? New BTC terms prediction sees rhythm apical astatine $180K

Can ETFs spark Bitcoin’s post-halving bull run?

The support of the archetypal spot Bitcoin ETFs successful Hong Kong could catalyze Bitcoin’s post-halving rally, according to Herbert Sim, main operating serviceman of crypto speech Websea, who told Cointelegraph:

“Halving is not the lone happening to look retired for successful the terms action. But alternatively the upcoming Bitcoin ETF support successful Hong Kong, which besides happens adjacent week. The large banks of China volition each person to commencement buying Bitcoin themselves too.”

Sim noted that Hong Kong-based ETFs volition lone adhd to the organization request and inflows created by ample U.S. ETF issuers specified arsenic BlackRock, which helium expects to continue. He added:

“And with this proviso chopped from the Bitcoin Halving, prices volition decidedly soar.”

Large investors, oregon alleged mega whales, that are holding astatine slightest 10,000 BTC are accumulating Bitcoin astatine the existent terms level, successful anticipation of adjacent week’s approval, according to fashionable crypto commentator Bitcoin Munger’s April 12 X post:

“The lone cohort that is net-accumulating Bitcoin is the largest whales (>10k). Just up of Hong Kong ETF approvals and the halving. A affirmative contrarian awesome if I had to guess.”

Trend Accumulation Score by Cohort. Source: Bitcoin Munger

ETF inflows person been a important portion of Bitcoin’s terms rally. By Feb. 15, Bitcoin ETFs accounted for astir 75% of caller concern successful the world’s largest cryptocurrency arsenic it surpassed the $50,000 mark, according to CryptoQuant research.

Bitcoin’s terms enactment has been intimately correlated with the nett Bitcoin ETF inflows, according to Thomas Fahrer, the co-founder of Apollo, who wrote successful an April 12 X post, referencing the beneath chart:

“I would person thought it was highly evident that ETF flows are driving Bitcoin [price]…”

Net Bitcoin Flows, Year-To-Date Chart. Source: Thomas Fahrer

Related: Hong Kong’s in-kind ETF instauration could beryllium a important marketplace opportunity: Analysts

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