$ETH $BTC Hong Kong approves the launch of spot Bitcoin and Ethereum trading funds!
The financial authorities in Hong Kong recently approved the launch of cryptocurrency ETFs, linked to Bitcoin and Ethereum, as three asset management companies, Bosera, ChinaAMC, and Harvest Fund, obtained initial approval to launch these funds.
Commenting on this step, Gary Teo, CEO of OSL Securities, said that these approvals to launch spot Bitcoin and Ethereum trading funds may give the Asian continent an advantage over the United States, as the United States has not currently approved any spot products. So Hong Kong managers are in a very good position when they launch Bitcoin and Ethereum products in Hong Kong for sure.
It is noteworthy that earlier, the authorities in Hong Kong had already allowed the launch of futures-based cryptocurrency exchange-traded funds, and the three products, CSOP Bitcoin Futures, CSOP Ether Futures, and Samsung Bitcoin Futures, have assets amounting to...
About $170 million.
