🔷 Bullish News for $BTC ⏫

Hong Kong to approve spot bitcoin, ether ETFs as soon as Monday:

Hong Kong regulators could approve spot ETFs based on bitcoin and ether as early as Monday, according to Bloomberg, which cited people familiar with the matter.

As part of the approval, a subsidiary of Chinese asset manager Harvest Fund Management Company is expected to clinch approval to operate as an issuer of a bitcoin and an ether fund. In addition, a partnership between Bosera Asset Management (International) Co. and HashKey Capital will likely receive approval to offer both types of spot ETFs. As The Block reported earlier Friday , HashKey's chief executive, Livio Weng, said that a spot ether ETF approval would be forthcoming if the issue of on-chain staking can be resolved.

The first batch of issuers will tentatively launch both types of spot ETFs at the end of April, according to Bloomberg.

The anticipated approvals come after the Hong Kong Securities and Futures Commission signaled it would clear the path to increasing institutional investors’ access to digital asset-based investments. Earlier this month, the SFC gave Harvest and China Asset Management clearance to manage cryptocurrency-based funds, according to Bloomberg.