Hong Kong Regulators Approve Spot Bitcoin and Ethereum ETFs

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Hong Kong’s Securities and Futures Commission (SFC) has officially approved several spot Bitcoin and Ethereum exchange-traded funds (ETFs), marking a pivotal moment in the region’s rapidly growing crypto market. Among the approved entities are prominent asset managers such as China Asset Management, Bosera Capital, and HashKey Capital Limited, with an in-principle approval extended to Harvest Global Investments.

Prominent Asset Managers

China Asset Management‘s Hong Kong division has secured in-principle approval from the SFC to offer retail asset management services linked to spot crypto ETFs. Collaborating with OSL and BOCI International, it plans to launch spot Bitcoin and Ether ETFs, with OSL serving as the primary virtual asset trading and sub-custodian partner.

Meanwhile, Harvest Global Investments has announced in-principle approval for its two spot crypto ETFs. These ETFs, developed in collaboration with OSL, aim to address issues like high margin requirements, leveraging OSL’s robust infrastructure for secure trading and reliable asset management.

Bosera Asset Management and HashKey Capital have also disclosed conditional approval for two spot crypto ETFs jointly managed by them. This move underscores Hong Kong’s forward-thinking regulatory approach, emphasizing the safe integration of digital assets into its financial ecosystem.

What do the approvals indicate?

The launch of these ETFs is expected to offer a regulated and innovative investment avenue for retail and institutional investors in the region. While the buzz may not match that of US ETFs, analysts anticipate a similarly significant impact, signaling Hong Kong’s growing influence in the global crypto landscape.

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