Hong Kong's total ETFs market is worth about $50 billion, which is very small compared to the US ETFs market, which is estimated at slightly less than $9 trillion. The amount of money and the number of investors in HK therefore could not have any significant impact on the price of BTC, with the fact that mainland Chinese cannot invest in that ETF.
The story was sold for weeks as "the next big thing", and realistically few mentioned that Hong Kong and China are not the same thing when it comes to investing really large amounts of money in anything. Maybe that's why China allowed such an ETF to be approved, because interest in it will probably be quite low, and money control will still be at a high level.
True, there is no connection at all, it's just a coincidence that when Hong Kong has it's first trading day, it's not enough to push the market and there are news about the Feds that coincides with it and so the negative news = price going down. The question is, it this going to be worrisome for us as we are expecting that the price is going to go up because of halving? Nah, for experience investors, they might see this a normal movement. And we have seen this in the past that after the halving, their is no immediate effect and seems that the price will go down and then it will settle down in a straight line for quite sometime before the prices or investors started to pour their money to cause the price to go on a parabolic rise later before the end of the year. The story was sold for weeks as "the next big thing", and realistically few mentioned that Hong Kong and China are not the same thing when it comes to investing really large amounts of money in anything. Maybe that's why China allowed such an ETF to be approved, because interest in it will probably be quite low, and money control will still be at a high level.
