This will be the first time in Asia that retail investors have a chance to trade cryptocurrency exchange-traded funds at spot prices. Looks like Chinese citizens will not be allowed to purchase them though, bummer. One big difference between the US & HK BTC ETFs is purchasers of the HK BTC ETFs are allowed to withdraw the actual Bitcoin, if they like. In the US, the SEC will only allow you to "Cash Out" in Fiat and never custody the actual Bitcoin yourself. Considering the US BTC ETFs are nearly all custodied at US-based Coinbase, this creates a centralized attack vector should the US ever runs into financial problems and desires to confiscate that Bitcoin, like they did with Gold in 1933 (Executive Order 6102).
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