🚨 Breaking News: Hong Kong Approves First Bitcoin and #Ethereum Spot ETFs
SHANGHAI (Reuters) - Hong Kong's securities regulatory authority has given the green light to the first spot bitcoin and ethereum exchange-traded funds (ETFs) on Monday, marking a significant milestone as the city progresses towards embracing these popular cryptocurrencies as primary investment instruments.
Both Bosera Asset Management and China Asset Management's Hong Kong branch announced separately that they have obtained regulatory clearance from the #HongKong Securities and Futures Commission (SFC) to introduce these ETFs.
This development comes just three months after the United States launched the initial ETFs listed in the US, designed to track spot Bitcoin. The successful US launch has served as a model for other regions, already attracting net inflows of approximately $12 billion.
