TechFlow news, according to Richard Byworth, Managing Partner of SyzCapital and Bitcoin investor, Hong Kong's spot Bitcoin ETFs may be included in the Shanghai-Hong Kong Stock Connect program. The Stock Connect allows eligible investors from one market to purchase qualified stocks in another market within specified quotas. Shenzhen-Hong Kong Stock Connect is a cross-border investment channel linking the Shenzhen Stock Exchange and the Hong Kong Stock Exchange, enabling investors from either market to trade stocks in the other market through local brokers and clearing houses. The Stock Connect program covers a broad range of stocks but is subject to daily quota limitations. Another trading arrangement between Hong Kong and mainland China, known as Mutual Recognition of Funds, allows qualified mainland and Hong Kong funds to be distributed in each other’s markets.
In 2021, China banned Bitcoin mining and prohibited foreign cryptocurrency exchanges from offering services to customers in the country. However, despite the comprehensive ban on cryptocurrency-related businesses and services, Bitcoin is still recognized as legal property in several jurisdictions.
