🔈🔈🔈News Flash: Hong Kong Greenlights Bitcoin and Ethereum Spot ETFs
🟢The Hong Kong Securities and Futures Commission (SFC) has authorized multiple spot Bitcoin and Ethereum ETFs, a major move in the region's crypto sector. China Asset Management, Bosera Capital, and HashKey Capital Limited received major approvals, along with Harvest Global Investments in principle.
💥Hong Kong SFC Approves Bitcoin, ETH ETFs
🟢According to their press release, China Asset Management Hong Kong obtained SFC clearance to issue Bitcoin and Ethereum ETFs. This partnership with OSL Digital Securities Limited and BOCI International aims to provide retail asset management with direct bitcoin subscriptions.
🟢The SFC has conditionally approved spot crypto ETFs from Bosera Asset Management and HashKey Capital. According to their press release, the Bosera HashKey Bitcoin ETF and Ether ETF enable investors to easily subscribe for ETF shares using Bitcoin and Ethereum.$BTC $ETH
🟢Harvest Global Investments received two SFC in-principle approvals for digital asset spot ETFs. In their press release, Harvest Global Investments CEO and CIO Tongli Han said, “This in-principle approval for Harvest Global Investments’ products in two major digital asset spot ETFs not only underscores Hong Kong’s competitive edge in the digital asset space, but also demonstrates our unrelenting pursuit of promoting innovation in the industry and meeting diversified investor needs.”
🟢Bosera and HashKey's news announcement states that these virtual asset spot ETFs would expand asset allocation options and strengthen Hong Kong's standing as an international financial center and virtual asset hub.
🟢The approvals show Hong Kong's developing regulatory structure that aspires to safely incorporate digital assets into its financial ecosystem. These ETFs will provide individual and institutional investors in the area a regulated, innovative investing option. While there is less fanfare than with US ETFs, some experts think the effect might be comparable.
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