Taking a significant step towards solidifying its position as a regional crypto hub, Hong Kong today green-lighted several spot Bitcoin and Ethereum exchange-traded fund (ETF) applications.
Hong Kong Approves Spot Bitcoin and Ethereum ETFs
China Asset Management, a leading Chinese asset manager, announced that its Hong Kong division has received approval from the Hong Kong Securities and Futures Commission (SFC) to offer retail asset management services linked to spot crypto ETFs.
The company plans to collaborate with OSL and BOCI International to launch spot Bitcoin and Ethereum ETFs.
Similarly, Harvest Global Investments announced that two spot crypto ETFs have received in-principle approval from the SFC. Developed in partnership with OSL, these ETFs aim to address concerns such as high margin requirements.
In addition, Bosera Asset Management’s Hong Kong unit and HashKey Capital announced that the regulator has conditionally approved two spot crypto ETFs jointly managed by the two entities.
While the details of the “conditional approval” remain unclear, Bosera and HashKey are preparing to launch a spot Bitcoin ETF called Bosera HashKey Bitcoin ETF and a spot Ethereum ETF called Bosera HashKey Ethereum ETF.
These ETFs are expected to enable investors to subscribe to stocks directly using Bitcoin and Ethereum.
Bosera emphasized the importance of the launch of Virtual Asset Spot ETFs, noting that it not only offers investors new asset allocation opportunities but also strengthens Hong Kong’s status as an international financial center and a hub for virtual assets.
*This is not investment advice.
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Source: https://en.bitcoinsistemi.com/the-expected-happened-hong-kong-approves-spot-bitcoin-and-ethereum-etfs-here-are-the-details/