However, there is something mentioned in the article that implies that spot ETFs might not be as bullish as we might expect. It is mentioned that the take up on futures ETF in Hong Kong has only been modest.
In other countries, do not expect bitcoin to be bullish if their SEC approve spot bitcoin ETF, but in United States, expect the market to be bullish as we expect becuase it will first start from people fomo and also US have more than half of the worlds share of traditional market.
There are many spot etfs in many countries already this is nothing new. I think somewhere in Europe there was a bitcoin etf from maybe 5 years back.
The first was in two years ago but listed this year. So the first bitcoin spot ETF in Europe was this year.
Also this is about bitcoin spot ETF in Hong Kong.
Yes there was one in Europe announced last year and listed in August gone without
any big fanfare or craze, it was the Jacobi FT Wilshire Bitcoin ETF from this report.
https://gfmag.com/technology/europe-makes-first-spot-bitcoin-etf-available-to-trade/#:~:text=The%20Euronext%20Amsterdam%20stock%20exchange,ETF)%20in%20mid-August.
I suspect the Spot Bitcoin ETF in Hong Kong will end up being something similar,
it will end up going relatively unnoticed.
All eyes are really on the Blackrock Spot Bitcoin ETF purely because Blackrock are the
largest asset management company in the world!