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Hong Kong, a prominent global financial hub and a gateway for Chinese overseas investments, is poised to green-light a spot Bitcoin exchange-traded fund (ETF) linked to Bitcoin (BTC).
According to a Coindesk report, Singapore-based crypto services provider Matrixport noted that this investment vehicle could potentially unlock up to $25 billion in demand from Chinese investors through the Southbound Stock Connect program, which allows qualified mainland Chinese investors to access eligible shares listed in Hong Kong.
Matrixport’s report suggests that the approval of Hong Kong-listed Bitcoin Spot ETFs could attract several billion dollars of capital from mainland investors, as the Southbound Connect program facilitates up to 500 billion RMB (HK$540 billion and $70 billion) per year in transactions. Based on the potential available capacity, Matrixport estimates that up to HK$200 billion (US$25 billion) could be channeled into these Bitcoin ETFs.
The Stock Connect program allows mainland Chinese investors to purchase up to HK$540 billion worth of Chinese stocks annually. However, data from 360MarketIQ reveals that flows in the past three years have fallen short of the limit by HK$100 to HK$200 billion ($15 billion to $25 billion), leaving a potential quota for Bitcoin ETF investment flows if the approval occurs without restrictions.
Bitcoin ETF’s reach into China
It remains unclear whether the forthcoming spot ETFs will be accessible to mainland Chinese investors. However, mainland China’s recent surge in gold prices suggests an interest in diversifying into alternative assets. The tightly controlled Chinese renminbi has declined nearly 2% against the U.S. dollar, extending its two-year losing streak due to economic slowdown and shrinking trade surplus.
Nick Ruck, COO of ContentFi Labs, noted that mainland-based funds have been applying to issue spot Bitcoin ETFs through their Hong Kong subsidiaries, which could allow qualified mainland investors greater access to Bitcoin if approved.
According to Nikkei Asia, top Chinese fund managers such as Bosera Asset Management’s Hong Kong arm, Harvest Global Investments, and Value Partners, owned by Chinese brokerage GF Holdings, have applied for ETFs in Hong Kong.
The U.S. recently approved nearly a dozen spot ETFs, which have amassed $12 billion in investor funds and pushed Bitcoin to new record highs above $73,000. If Hong Kong follows suit, it could lead to a significant inflow of capital from Chinese investors into the cryptocurrency market.
In the United States, the local regulators approved the Bitcoin spot ETF back in January after a prolonged fight by proponents. Those ETFs saw major outflows following a recent market setback after previously reporting over $1 billion of inflows in a single day back in mid-March.
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Steam is gearing up for a bullet-flinging first-person shooter sale, kicking off April 15. The weeklong Steam FPS Fest offers discounts to games of every possible FPS genre, from squad-based tactical shooters to solo adventures.
What’s in the Steam FPS Fest 2024?
We have picked out the top titles featured in the sale across these many genres. One of the featured deals is 2021’s legendary remaster of the cult classic Crysis 3. The FPS adventure is an excellent deep dive into tech-based stealth combat.

Recently released Robocop: Rogue City (it launched in November) is the gaming incarnation of Paul Verhoeven’s dystopian android revenge flick from 1987. Earlier this year, an executive with the game’s publisher, Nacon, said that the dominance of AAA games in the FPS genre left little opportunities for smaller studios to thrive in that core genre. So this is a chance to pick up the well received title at a lower price point.
Verdun and Hell Let Loose go back in time to the trench warfare and the sundered grounds of Northern France in World War I. These shooters have all the bleak greyscale grittiness and the vintage weaponry one would expect in an adaptation of The Great War.
For those riding the wave of 1990s nostalgia, games like ULTRAKILL, System Shock and Ravenfield scratch that Nintendo 64 itch.

“These are the games where first-person is the default or common mode for playing, so join us April 15 through the 22nd for Steam’s FPS Fest,” says the sale announcement video.

Featured games in the FPS Sale:

Crysis 3 Remastered
Black Mesa
Rust
Far Cry® 6
Squad
SCP: 5K
ULTRAKILL
Verdun
Hell Let Loose
Hunter: Call of the Wild
RoboCop: Rogue City
Depth
High On Life
Ravenfield
System Shock
Trepang2
OPERATOR

There is a handy countdown clock on the Steam sale page that lets gamers know how long they have to wait until they can snap up the discounted titles. The current deals on Steam are also listed, with Vampire Survivors top of the pile drawing a gamer review score of 97.
The rogue-like game has seen a busy 2024, and will be winging its way to PlayStation this summer, and on May 9, brings crossover DLC with the heroes of Konami’s Contra into the bargain.
Last month, a slate of classic games that had never been for sale on Steam finally made their way to its marketplace. The late bloomers include cherished favorites like Populous and the Red Faction series of games.
Image: Steam.
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