Wealthy investors in Hong Kong are signaling a strong intent to enter the cryptocurrency market this year. This comes as Japan considers allowing traditional banks to hold Bitcoin, indicating a growing acceptance of digital assets across the region.
Hong Kong’s High-Net-Worth Individuals Turn to Crypto
A recent study indicates that a significant portion of Hong Kong’s affluent population is planning to invest in digital assets. Almost 80% of wealthy investors surveyed reportedly intend to acquire cryptocurrencies within the next year, with over 30% already holding some form of digital asset exposure.
The survey included more than 500 participants, each possessing at least HK$1 million (approximately US$128,650) in liquid assets. This trend suggests a burgeoning interest in crypto among established investors in the region.
Standard Chartered Hong Kong to Offer Crypto ETF Trading
Further solidifying Hong Kong’s move into the digital asset space, Standard Chartered Hong Kong is reportedly set to introduce trading services for cryptocurrency exchange-traded funds (ETFs) in November. This development could provide more accessible avenues for investors looking to gain exposure to the crypto market.
Japan Considers New Bitcoin Regulations for Banks
Meanwhile, Japan is exploring a policy shift that would permit banks to hold Bitcoin. This potential regulatory change could significantly integrate cryptocurrencies into the traditional financial system, potentially paving the way for broader institutional adoption.
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