Several issuers of Bitcoin ETFs in Hong Kong said that southbound funds would definitely not be able to purchase virtual currencies and related ETFs. Matrixport previously stated in a report that Bitcoin spot ETFs listed in Hong Kong are expected to attract up to US$25 billion in capital inflows from mainland Chinese investors through Southbound Connect, which many Hong Kong ETF participants believe is pure nonsense.
It is reported that mainland Chinese capital investing in Hong Kong stocks needs to enter Hong Kong from mainland China through the Shanghai-Hong Kong Connect and the Shenzhen-Hong Kong Connect. The capital from both sides is called southbound capital. (Wu said)