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Tongli Han, CEO of Harvest Global Investments (HGI), stated that HK spot crypto ETF may double the size of the US.
In an exclusive interview with Annabelle Droulers on “Bloomberg Markets: Asia,” Tongli Han, CEO of Harvest Global Investments, presented his views on HK Spot Crypto ETF. According to Han, Spot Crypto ETF is strong enough to be double the size of the U.S.
Tongli Han also discussed Hong Kong’s position in crypto and Harvest Global Investments’s plan.
Tongli Han’s Views On HK Spot Crypto ETF
On April 30, Tongli Han, in an interview on Bloomberg Television, discussed the sidelines of the HK Spot Crypto ETF’s listing ceremony at the Hong Kong Stock Exchange.
Tongli Han is the CEO of Harvest Global Investments, an investment company managing more than $125 Billion in equities, bonds, passives, and private equity.
“The HK spot crypto ETFs have the potential to be double the size of the US,” said Han.
In the same way, Watcher Guru took on social media platform X to share Han’s viewpoint on the ETF listing ceremony.
JUST IN: 🇭🇰 Hong Kong #Bitcoin ETF market has potential to double US market size, expert says.
— Watcher.Guru (@WatcherGuru) May 1, 2024
Han said the newly added spot Bitcoin (BTC) and Ether (ETH) ETFs would attract cryptocurrency natives, financial investors, and crypto enthusiasts. This move undoubtedly expands Hong Kong’s positioning in the crypto marketplace.
Uncovering HGI’s fee structure and profitability, the investment company is focused on long-term vision and ecosystem development over short-term profits.
Cheapest ETFs, free for the first six months and with 0.3% charges after that, showcase HGI’s vision. “We want to make money from our vision and expect to make profits once the fee kicks after the first six free months,” Han added.
Collateralized financing and high demand from Bitcoin-based investors could become the primary sources of making money. Also, the HK Spot Crypto ETF will attract money from the traditional and crypto financial world.
Where Hong Kong Stands In The Crypto Space?
Hong Kong’s standing in the crypto space was also debated in the interview. Hong Kong is considered a financial hub due to its positioning within China and Asia.
According to Han, HK is still struggling to secure a strong position in the market and is in the experimental phase.
“HK & US are on the same starting line and we are developing HK to compete with the US market as the crypto and financial sectors are moving forward,” Han added.
HK is a financial hub for Western and Eastern investors, and successful ETF listing implementation will help China access ETFs.
What To Expect From HGI By 2024 End?
To strengthen its roots in the cryptocurrency market, Harvest Global CEO is one way to launch a sophisticated ETF products and new bond issuances.
Crypto enthusiasts can expect ETF products, including reverse ETF and multiplier ETF, by the end of 2024. Reverse or inverse ETFs seek to offer returns opposite to the underlying index or benchmark.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
