Bitcoin ETF News Continues to Busy the Agenda! Another Development Came from the Hong Kong Regulatory Authority!

Hong Kong’s Securities and Futures Commission (SFC) is considering allowing retail investors to buy spot crypto Exchange Traded Funds (ETFs), Bloomberg reports.

Hong Kong Explores Spot Crypto ETFs for Retail Investors

SFC CEO Julia Leung stated that they are open to innovations that leverage technology for improved efficiency and customer experience, and said, “We are happy to try this as long as new risks are addressed. Our approach is consistent regardless of the asset.”

Hong Kong’s regulatory stance on individual access to digital assets has evolved over the year.

Initially, in January, the SFC tightened regulations by reserving access to crypto spot ETFs for professional investors with a portfolio of at least HKD8 million ($1 million).

But in October, the SFC revised its rulebook to enable a broader range of investors to participate in spot crypto and ETF investments.

“The policy has been updated to further expand retail access through intermediaries and allow investors to deposit and withdraw virtual assets directly to and from intermediaries with appropriate safeguards,” the SFC said in response to questions from the industry. He made a statement.

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*This is not investment advice.