Hong Kong Opens Doors For Spot Crypto ETFs Applications Amid US SEC Anticipated Approval

Hong Kong has announced its readiness to accept applications for spot crypto exchange-traded funds (ETFs). The Securities and Futures Commission (SFC), Hong Kong’s financial watchdog, alongside the Hong Kong Monetary Authority, the city’s central banking institution, jointly published circulars today, laying the groundwork for this significant shift in the crypto landscape.

The move marks a decisive step in Hong Kong’s efforts to position itself as a leading hub for digital asset innovation and regulation. The SFC’s readiness to consider applications for spot crypto ETFs signals a progressive approach to embracing the growing interest in digital assets.

The regulator has specified that these ETFs should primarily focus on investments directly in spot virtual asset tokens available to the Hong Kong public on SFC-licensed virtual asset trading platforms (VATPs).

Source: www bitcoinist.com