Hong Kong’s Securities and Futures Commission (SFC) yesterday approved several Bitcoin and Ethereum spot ETFs, marking a significant step in the adoption of cryptocurrencies by institutional investors.
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Hong Kong SFC gives green light to ETFs
The Securities and Futures Commission (SFC) Hong Kong has finally given the green light to some of the region’s leading asset managers to offer Bitcoin and Ethereum exchange-traded funds (ETFs) for cash. This approval concerns major players such as China Asset Management, Bosera Capital and HashKey Capital Limitedmarking a major step forward for the crypto market in the region.
These ETFs will offer investors regulated access to key digital assets, with the possibility of subscribing directly using Bitcoin and Ethereum. China Asset Management, in collaboration with OSL Digital Securities Limited and BOCI International aims to provide retail asset management services with direct cryptocurrency subscriptions.
Similarly Bosera HashKey Bitcoin and Bosera HashKey Ether ETFs will enable investors to use BTC and ETH directly to subscribe for shares.
A strategic move to reinforce Hong Kong’s status as a crypto hub?
The introduction of these spot crypto ETFs in Hong Kong should not only offer new asset allocation opportunities, but also consolidate the city’s position as an international financial center and hub for virtual assets.
Hong Kong’s progressive regulatory framework aims to integrate digital assets safely into its financial ecosystem, offering an innovative investment route for retail and institutional investors.
The approval of Bitcoin and Ethereum ETFs in Hong Kong comes at a time when the United States is still struggling to give Ethereum ETFs the green light. Indeed, the Securities and Exchange Commission (SEC) recently opened an investigation into the Ethereum Foundation questioning the cryptocurrency’s regulatory status.
Hong Kong’s decision could therefore give the region a competitive edge, attracting institutional investors keen to expose their portfolios to digital assets in a regulated way.
As a journalist at Coinpri, I’ve been captivated by the world of bitcoin and blockchain since 2020. The decentralized aspect of Bitcoin particularly piqued my interest. Since then, I’ve been working constantly to spread my knowledge, hoping one day to see a world where everyone fully enjoys their financial freedom.
