Hong Kong SFC has accelerated the approval process for spot Bitcoin exchange-traded funds

Hong Kong’s Securities Commission (SFC) has reportedly accelerated the approval process for four spot Bitcoin exchange-traded funds (ETFs).

According to local Hong Kong news outlet Tencent News, the first batch of spot Bitcoin ETFs are scheduled to be approved in the region by April 15.

Citing multiple sources close to the Hong Kong Securities and Futures Commission, the report said the Hong Kong regulator initially planned to approve only four spot Bitcoin ETFs in the first batch.

Recent announcements indicate that Bosera Funds and Value Partners are expected to join pending regulatory approvals, while Harvest Global and China Asset Management have already made progress in the process.

After the Hong Kong Securities and Futures Commission approves the initial batch of spot Bitcoin ETFs, the Hong Kong Stock Exchange will need about two weeks to complete the listing procedures and related arrangements.