Hong Kong Approves Spot Bitcoin and Ethereum ETFs

Hong Kong approved the applications for spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs).

China Asset Management, Bosera Capital, HashKey Capital Limited announced that the Hong Kong Securities and Futures Commission (SFC) has approved both spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) applications.

Hashkey Capital was founded in 2015 by current CEO Dr Xiao Feng, and is a digital asset platforms and investment fund prominent in Asia. It has $1 billion in AUM and recently seeked to raise funds at a $1 billion plus valuation. Shenzhen-based Bosera Capital is one of the first fund management companies in China, and manages $200 billion in assets. Meanwhile, China Asset Management is a prominent asset management firm founded in 1998. It manages one of the largest equity ETF products in China, with a total of $266 billion in assets under management (AUM).

Bloomberg first reported about the imminent approval of the spot ETFs, with the listing details being finalized in time with Hong Kong Exchanges & Clearing (HKEX). The report stated that the products could be launched by the end of this month, marking a significant development in the region's cryptocurrency market.

#bitcoinhalving #BullorBear #BinanceLaunchpool #TrendingPrediction #TrendingInvestments $BTC