Hong Kong Grants Approval for Bitcoin and Ethereum Spot ETF

The Hong Kong Securities and Futures Commission (SFC) greenlights spot Bitcoin and Ethereum exchange-traded funds (ETFs), signaling a milestone for the region crypto market.

In a significant move for Hong Kong burgeoning crypto sector, the Securities and Futures Commission (SFC) has officially sanctioned multiple spot Bitcoin and Ethereum exchange-traded funds (ETFs). Among the approved asset managers are China Asset Management, Bosera Capital, and HashKey Capital Limited, with an in-principle approval granted to Harvest Global Investments.

China Asset Management Hong Kong unit, in collaboration with OSL Digital Securities Limited and BOCI International, has secured SFC approval for spot Bitcoin and Ethereum ETFs, focusing on retail asset management with direct cryptocurrency subscriptions. Similarly, Bosera Asset Management and HashKey Capital have received conditional approval for their respective spot crypto ETFs, offering the Bosera HashKey Bitcoin ETF and the Bosera HashKey Ether ETF.

This regulatory milestone underscores Hong Kong progressive stance on digital assets integration and its ambition to become a global financial hub for virtual assets. The move aligns with the city strategic drive to foster financial innovation, particularly in the digital asset realm.

The introduction of these virtual asset spot ETFs not only diversifies investment opportunities but also solidifies Hong Kong position as an international financial center. The region forward-thinking regulatory framework aims to ensure the safe and secure integration of digital assets into its financial ecosystem, providing regulated investment avenues for both retail and institutional investors.

The recent approvals come amid anticipation following last week speculation regarding the potential green light for these ETFs. The confirmation has injected optimism into the market, with Bitcoin witnessing a 2.2% surge post-announcement, surpassing the $66,000 threshold. The approved ETFs are slated to debut by the end of April.

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