Odaily News Eric Balchunas, ETF analyst at Bloomberg, posted on X platform that the Hong Kong spot Bitcoin ETF has been approved to exist, but has not yet been launched. There are rumors that it will be launched next week. It is not expected that there will be a lot of flow in the Hong Kong spot Bitcoin ETF (some people estimate $25 billion, which is crazy), and the estimated scale of capital inflow may be $500 million. Here are the reasons: 1. The Hong Kong ETF market is very small, only $50 billion, and mainland users still cannot buy it, at least officially. 2. The three approved spot Bitcoin ETF issuers (Bosera, Huaxia, Harvest) are small in scale. There are no big institutions like BlackRock involved yet. 3. The liquidity/efficiency of the underlying ecosystem is low = these ETFs may have large spreads and prem discounts. 4. Transaction fees may be 1-2%, which is higher than US spot Bitcoin ETFs.