The second in the world!
After the 413 tragedy, the crypto world ushered in a wave of good news today. The first batch of virtual asset ETFs in Hong Kong were approved for issuance, and the latest listing time is the end of April. Hong Kong became the second region to be approved for virtual asset ETFs.
Unlike the ETFs approved in the United States, which only support cash subscription. Hong Kong will adopt a physical subscription mechanism, and investors can subscribe with $BTC and $ETH . It can only be said that the Hong Kong Securities Regulatory Commission has great ambitions. Just supporting the use of cryptocurrencies has lowered the investment threshold and attracted more investors and institutions. Liquidity and market efficiency are bound to be greatly improved.
However, if the mainland wants to participate, there are still too many restrictions, such as foreign exchange restrictions. The personal foreign exchange quota of US$50,000 per year needs to be reported if it exceeds. There is also KYC, not to mention.
