Bitcoin proponents say that the bitcoin halving’s impact on its supply could have a big impact, particularly at a time when there’s high demand from spot bitcoin exchange-traded funds.

“This halving will trigger an immense supply shock to the system. With current U.S. ETFs at 5-10x daily supply, post-halving demand would be 10-20x supply,” Samson Mow, CEO at bitcoin technology company JAN3, told The Block.

Mow added that the bitcoin ETFs launching in Hong Kong could also bring in further capital from Asian investors. He highlighted that these ETFs will have in-kind provisions, meaning investors can redeem their investments for the underlying bitcoin, something that’s not possible with U.S. bitcoin ETFs.

Since launching in January, the U.S. bitcoin ETFs have seen an overall increase of …