Binance News | July 22, 2025


U.S. digital asset investment products continue to dominate global inflows, pulling in a massive $4.36 billion last week, compared to just $14.1 million in Hong Kong. Despite the growing popularity of ETFs across Asia, crypto remains a niche allocation for many investors in the region.


According to CoinShares, U.S. crypto ETFs accounted for nearly the entire global inflow of $4.39 billion, underscoring America's lead in crypto adoption through regulated markets. Meanwhile, Hong Kong-based products, despite offering world-class infrastructure and regulatory clarity, lag behind in volume and demand.



Key Inflows (Last Week):

🇺🇸 U.S. Crypto ETFs: $4.36B

🇭🇰 Hong Kong Crypto ETFs: $14.1M

🧾 U.S. Equity ETFs: -$11.75B (net outflows)

💵 U.S. Bond Funds: +$5.55B


A New Door to Mainland China?

There could be a shift on the horizon. At Consensus Hong Kong in February, Red Date Technology CEO Yifan He floated a regulatory workaround: enabling mainland Chinese investors to access Hong Kong-listed spot BTC and ETH ETFs through the QDII (Qualified Domestic Institutional Investor) program.


This structure would allow licensed mainland institutions to offer crypto exposure—without breaking capital control laws or direct crypto ownership—by mirroring existing RMB-based ETF channels.



"If they can buy and sell in RMB within the system, and funds never cross borders, it's just another regulated product," He explained.


He noted subtle shifts in tone from Chinese regulators, saying they’ve started to publicly discuss Bitcoin and digital assets—a move that would have been unthinkable just a few years ago.


Not a Ban Lift—But a Sandbox Model

While this wouldn’t amount to repealing China’s crypto ban, it could represent the start of a sandbox-style framework, dramatically increasing demand for Hong Kong's currently underutilized ETF offerings.



Market Watch (As of 9:00 AM HKT)




  • BTC: $117,817 — Holding steady in a tight range$BTC



  • ETH: $3,790 — Up 13% YTD, with momentum returning$ETH



  • Gold: $3,391.90 — Up 1.2% on weaker USD



  • Nikkei 225: 40,254.18 — +1.12% as Japan’s political uncertainty settles



  • S&P 500: Mixed close, but tech indexes hit fresh all-time highs



Binance Insight

The dominance of U.S. crypto ETF flows underscores a growing divergence in global adoption patterns. But if Beijing cracks open even a narrow path to crypto exposure through Hong Kong, Asia’s dynamic could flip rapidly—with billions in sidelined capital waiting to move.#BTCvsETH #StrategyBTCPurchase #StablecoinLaw #ETHBreaks3700