HOT: Good news for Bitcoin and Ethereum: Spot ETF launched on Monday
Hong Kong's Securities and Futures Commission will approve spot ETFs that invest directly in Bitcoin and Ethereum from Monday.
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According to the latest information coming from Bloomberg, the Hong Kong Securities and Futures Commission (SFC) will approve spot ETFs that invest directly in Bitcoin and Ethereum from Monday.
The international arm of the two Chinese asset management companies, Harvest Fund Management Co., according to an anonymous source. and Bosera Asset Management Co, in addition to HashKey Capital, are all among the issuers expected to receive approval for both spot ETFs.
Both companies are awaiting approval from the SFC and the Hong Kong Exchange (HKEX). With listing details final, the company plans to launch ETFs by the end of the month. The schedule is not fixed and can change at the last minute.
In light of this news, on April 9, SFC licensed Harvest and China Asset Management to provide fund management services related to digital assets.
The launch of U.S. spot Bitcoin ETFs on January 11 sparked a resurgence in crypto markets this year. To date, 11 ETFs have amassed nearly $59 billion in assets, pushing BTC prices to a record high of $73,798 in mid-March.
