Bitcoin has recently experienced a price rebound following a weekend crash triggered by concerns over escalating tensions in the Middle East potentially leading to a broader conflict. The bitcoin price has surged to approximately $66,000 per bitcoin after dipping close to $60,000 on Saturday. This resurgence comes on the heels of the introduction of several new Wall Street spot bitcoin exchange-traded funds (ETFs), which have significantly boosted the bitcoin price amid speculations of a potential rapid devaluation of the U.S. dollar.
Following a stark inflation warning issued by a top Federal Reserve official, several major financial institutions in Hong Kong hinted at the approval of their spot bitcoin and ethereum ETF applications by the Securities and Futures Commission (SFC). While there has been no official confirmation from the SFC, reports indicate that China Asset Management, Bosera Capital, and Harvest Global have disclosed their approval to list spot bitcoin and ethereum ETFs in Hong Kong.
