**Hong Kong's Regulatory Shift on Cryptocurrency Spot ETFs**: The Hong Kong Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) have jointly issued circulars indicating their readiness to accept applications for cryptocurrency spot ETFs. These circulars lay out the requirements for fund managers to offer cryptocurrency spot ETFs, including the need for a government license, reflecting an index based on trading volume on major cryptocurrency exchanges, and using government-licensed custody services. Prior consultation with the SFC is also required if the cryptocurrency exposure proportion of net asset value is more than 10%. This move represents a shift in Hong Kong's regulatory stance on cryptocurrency ETFs. 🇭🇰💼 #HongKong #CryptocurrencyETF #Regulation