đđđHong Kong News: Bitcoin & Ether ETFs Trading Begins On April 30 đđđ
Hong Kongâs Securities and Futures Commission (SFC) finally approved spot Bitcoin and Ethereum ETFs; trading will begin on April 30.Â
Spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) have finally been approved by Hong Kongâs SFC and will begin trading on April 30. It will offer institutional investors and retailers a convenient and safer way to invest in digital assets. Unlike US spot BTC ETF, Hong Kongâs motive is to deliver in-kind creation models that assist in creating new ETF shares.
Hong Kong Spot BTC And ETH ETF Trading
On April 24, the official approval for Spot BTC and ETH ETFs trading joyfully filled Hong Kong crypto enthusiasts. After successfully approving the ETFs, Hong Kong is now ready to arrange its first batch of trading, scheduled for April 30.Â
According to SFC, The ChinaAMC, Harvest, and Bosera HashKey Bitcoin and Ether ETFs were approved on April 23. Additionally, Bosera Asset Managementâs ETF will be managed by HashKey Capital.
Approval of the ETFs showcases a successive step in Hong Kongâs creation of a model for ETFs that assists in developing new ETF shares using BTC and ETH. The in-kind ETF creation model holds the potential to spike assets under management (AUM) and trading volume for ETH and BTC.  Â
Thomas Zhu, ChinaAMCâs head of digital assets, expressed his views on spot BTC and ETHÂ ETF approval.Â
âThe spot Bitcoin and Ether ETFs offer retail and institutional investors a safe, efficient, and convenient means to invest in virtual assets in a regulated framework,â said Zhu.
He added that the demand for ETFs in institutional asset allocation and retail trading is gradually increasing in Hong Kong, and we expect the same for our offerings.Â
