Bitcoin {{BTC}} has risen 2.8% over 24 hours, trading above $66,500, and ether {{ETH}} has advanced to $3,240, according to CoinDesk Indices data, as multiple issuers in Hong Kong said they'd been approved for spot crypto exchange-traded funds (ETFs).

China Asset Management, Bosera Capital and other applicants posted to social-media platform WeChat (Weixin) that they had been approved to list spot bitcoin and ether ETFs in Hong Kong. However, these announcements seem to have front-run an official statement from the Securities and Futures Commission (SFC), which has not posted a list of approved issuers. Some of the posts have since been deleted.

The SFC did not return emails or phone calls asking for comment.

Singapore-based digital assets trading house QCP Capital said in a message shared with CoinDesk that it believes the ETFs, when approved, will unlock some institutional demand during Asia trading hours.

"Participants who wanted exposure have always been limited to US hours, but this now gives institutional investors an Asia-based alternative," QCP wrote. "We believe this will be bullish short term, but there are more important narratives and drivers such as macro events."

$BTC

With the start of the balance sheet period in the US last week, companies 2. the quarter continues to disclose its balance sheets. On the balance sheets announced so far, company profits are tracking above expectations. There is no major data that I care about until the #FED meeting on July 26. The positive mood created by the inflation data announced last week continues. Although I see a limited impact on the market, retail sales and industrial production data in the US today will give small data on the overall course of the US economy.

The fact that the European and British central banks are lagging further behind in the fight against inflation and emphasize that they will continue to increase interest rates will support the retreat in the dollar index. As long as there is no harsh wave of regulation, this situation will have a positive impact on cryptocurrencies. #Binance

In general view, Russia has withdrawn from the grain corridor agreement. The increase in the price of wheat and corn will not be a surprise for anyone. Beyond the price increase, there is also a risk that some countries will not be able to provide access due to the fact that a significant part of the world's grain needs are met from the region. On the other hand, I am observing a slowdown in the Chinese economy. I do not see the risk of jumping to other countries, especially the surrounding countries, as small at all. #Etf

When we returned to the country, the stock of foreign debt with a maturity of less than 1 year exceeded USD 207 billion and reached a new record high. The Treasury provided TL 13 billion in financing at the bond auction held yesterday. Today, 2 auctions will be held. We can also characterize the tax increases as a measure taken through income generation, but we should not forget that these taxes will support inflation. For this reason, the PPK meeting to be held on July 20 is very important. The stock market is also focused on the meeting. Although the uncertainty and impact of the meeting are at the forefront for the short term, I think that the stock market has fuel until the scissors between interest Dec and inflation are closed in the medium and long term.

#BinanceTournament #crypto2023