JUST IN: Hong Kong Spot ETF
OSL manager says Hong Kong could launch spot crypto ETF by mid-year.
Gary Tiu, managing director and head of regulatory affairs at OSL, a crypto exchange licensed in Hong Kong, said that the special administrative region may issue the first spot crypto exchange-traded funds by the middle of this year, according to local media.
Spot crypto ETFs aim to bring order, investor protection and connections between digital assets and traditional finance.
The initiative signals a major turning point, as Hong Kong tries to take a leading role in the fast-growing market for crypto assets.
Several fund firms are interested in launching such ETFs, which would allow investors to directly invest in cryptocurrencies without having to deal with the technical challenges of custody and security.
The Securities and Futures Commission (SFC) of Hong Kong is actively considering such a possibility, while keeping an eye on the regulatory concerns that need to be cleared before giving the green light.
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