Understanding the nature of value does not negate its significance. Rather, it allows us to see clearly that the key to sustaining value has never been mere “belief” alone, but the balance between belief and supply-demand. It requires both crafting a narrative worthy of trust and maintaining a baseline of supply stability.
We hold a cautious view on the approval of the first spot bitcoin ETF by the SEC, primarily due to the condition of a surveillance-sharing agreement (SSA).
Investors interested in Bitcoin exposure have a plethora of options. However, the decision-making process should consider elements like fund structure, regulatory environment, asset size, trading venue, and fees.
Obtaining a Virtual Asset Service Provider (VASP) license in Hong Kong requires compliance with the Guidelines for Virtual Asset Trading Platform Operators introduced by the Securities and Futures Commission (SFC) on 1 June 2023.