China may have access to Bitcoin ETFs and price prediction reaches $150,000

The possible opening of Hong Kong’s Bitcoin exchange-traded funds (ETFs) to mainland Chinese investors has sparked a wave of excitement and speculation in the cryptocurrency market.

On April 30, Hong Kong launched spot Bitcoin and Ethereum ETFs, marking a significant advancement for the crypto industry in Asia. Although initial trading volume was modest, Hong Kong’s geographic and economic proximity to China has increased prospects for crypto investments.

Will China enable access to Bitcoin ETFs?

SyzCapital managing partner Richard Byworth, a Bitcoin investor, recently hinted at a key development. In a conversation with Samson Mow on Twitter (X), Byworth mentioned discussions about including Bitcoin ETFs in the Stock Connect program.

This program encompasses the Shenzhen-Hong Kong and Shanghai-Hong Kong Stock Connects and facilitates international trading. In short, it allows investors to use local brokers and clearinghouses to access shares in each other’s markets.

Read more: What is the Bitcoin Halving?

“I just got back from Hong Kong. There are rumors that the ETF could be added to Stock Connect. The implications for this are absolutely enormous. Basically, it means that the mainland’s money can buy it,” Byworth said.

Despite China’s strict anti-crypto policies, Byworth’s comments rekindled hope. Brian SmashFi co-founder and COO HoonJong Paik echoes this sentiment. He highlighted the need for alternative assets in China against a backdrop of challenging real estate.

Paik pointed out that with significant capital tied up in underutilized real estate, the Chinese Communist Party could look favorably on affordable investment diversification.

“The Hong Kong stock market is one of the most accessible foreign markets for Chinese investors, promoting financial integration between mainland China and Hong Kong. Delisting just the Bitcoin ETF would likely cause significant repercussions among institutional and retail investors in both China and Hong Kong.”Paik said.

Optimistic analysts

In addition to the optimistic outlook, Bernstein analysts reinforced a bullish stance in their Bitcoin price forecast. Despite a drop to around $57,000, Bernstein analysts Gautam Chhugani and Mahika Sapra predict that Bitcoin could reach $150,000 by the end of 2025.

Analysts cite robust inflows into US Bitcoin ETFs and favorable market conditions following the halving.

“We are even more pleased with this statement and BTC metrics indicate a healthy cycle, still in its early stages. The risk-reward here remains attractive.”analysts wrote.

Thus, the confluence of a possible easing in China, financial movements in Hong Kong and positive market analyzes from experts suggests a bullish phase for Bitcoin. Therefore, as mainland investors keep an eye on the ETF market in Hong Kong, the crypto market could be about to witness significant changes.