Hong Kong, renowned for its financial hub status, recently hosted the Bitcoin Asia conference, drawing a notable crowd despite mainland China's restrictions on commercial cryptocurrency trading. Organized by BTC Inc, the event saw around 5,500 attendees, with a significant portion believed to be from mainland China, showcasing the growing interest in the cryptocurrency space.

David Bailey, CEO of BTC Inc, highlighted the conference's appeal, particularly in light of Hong Kong's upcoming launch of spot Bitcoin ETFs and the anticipated introduction of Ethereum ETFs, alongside advancements in layer 2 projects. Bailey emphasized the significance of ETFs as a validation of Bitcoin's enduring presence in the financial landscape.

The introduction of new ETFs in Hong Kong, allowing in-kind subscriptions and purchases using Bitcoin and ETH, has garnered positive feedback from cryptocurrency investors. Bailey underscored the importance of this feature, noting that crypto investors can utilize ETF shares as collateral for loans. Harvest Global and ChinaAMC, overseeing Hong Kong's crypto ETFs, are actively exploring the potential for collateralization of ETF products in the city, signaling a novel approach in the cryptocurrency market.