Encryption Fund Promotion Sparks Discussion: Are There Signs of Unblocking in China?

The price of Bitcoin has returned to the $100,000 mark, with market focus once again on the Federal Reserve's movements as the year comes to a close. Meanwhile, news about an encryption currency fund has attracted attention in the industry.

Recently, some users reported seeing advertisements for cryptocurrency funds on the homepage of a certain payment platform, including phrases such as "Global investment, cryptocurrency surge, start investing from 10 yuan". Upon verification, this fund is a certain overseas technology QDII-FOF-LOF fund, with a daily purchase limit of 1000 yuan per person.

This phenomenon quickly sparked heated discussions in the industry, with some speculating that it may indicate a shift in regulatory attitudes. A deeper analysis reveals that the involved fund falls under the QDII (Qualified Domestic Institutional Investor) category, which allows for indirect investment in overseas assets, including encryption-related assets.

According to public information, the fund mainly invests in overseas technology-themed funds, with a considerable proportion directed towards fund products that include stocks of cryptocurrency exchanges and Bitcoin ETFs. However, the actual proportion of investment in encryption assets is not high, and the overall scale is relatively small, appearing more like marketing leveraging hotspots.

In terms of performance, the net value growth of this fund has outperformed the market so far this year, but there is still a significant gap compared to directly holding Bitcoin. Nevertheless, for domestic investors, this provides a compliant channel to indirectly participate in encryption currency investment.

However, it is still too early to determine whether China will relax its regulation on encryption currencies. Since the beginning of this year, multiple departments have reiterated their stance on preventing risks associated with virtual currencies, and mainstream media has maintained a cautious attitude towards encryption assets. Considering factors such as foreign exchange controls and financial stability, the possibility of a complete lifting of restrictions on virtual currencies remains low.

Currently, indirect investment may be an option for domestic investors to participate in the encryption market. As regions like Hong Kong gradually open up regulations, more investment channels suitable for Chinese investors may emerge in the future. However, investors still need to cautiously assess risks and pay attention to policy changes.