Adam Back, CEO of Blockstream, Elucidates the Unique Characteristics of Hong Kong ETFs

Quick Summary:

Blockstream CEO Adam Back recently took to X to highlight a reason why the newly launched Hong Kong spot Bitcoin and Ethereum ETFs are different from their US counterparts.

It reflects the true form of a BTC-backed ETF and according to Back, this is “another timezone and market to get a bit closer to 24×7 spot market.

This model allows investors to redeem their ETFs in either Bitcoin or cash, unlike the US “cash-create” model which is limited to just cash.

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Article Details

Author / Journalist: Godfrey Benjamin

Category: Crypto

Markets: IndiaHong KongUnited States

Topics: 24/7 Cryptocurrency News Spot Bitcoin ETF

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-04-30 @ 22:56:43 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 462 words

Reading Time: 3 minutes read

Sentences: 30 lines

Sentence Length: 16 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 20839392

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