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HashKey COO Reveals 10 Hong Kong Firms Eyeing Crypto ETFs
Livio Weng, Chief Operating Officer of HashKey, a Hong Kong-licensed crypto exchange, recently shed light on the city’s growing interest in cryptocurrency investment products. Weng in a move that signals growth in the crypto sector announced Approximately ten asset management firms are actively researching this issue. possibility Plan to launch spot crypto ETFs in Hong Kong. This development underlines that the region is increasingly embracing digital assets.
Regulatory Framework Paves the Way
The Hong Kong Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority laid the foundation for these innovative financial products. They published a circular in December summarizing Requirements for spot crypto ETFs. This move resulted in the city’s regulated and trustworthy environment for crypto trading. About seven or eight asset managers have already contacted the SFC and taken concrete steps towards designing these investment vehicles, Weng said.
Global Participation in Hong Kong Crypto Market
Asset managers showing interest in these potential ETFs come from a variety of regions, including Asia and Europe, and some have Chinese capital backing. This international participation underscores Hong Kong’s status as a global financial center, especially in the burgeoning cryptocurrency space. The involvement of various international players points to broader acceptance and integration of digital assets in mainstream finance.
HashKey’s Role in the Emerging Crypto ETF Market
HashKey, owner accepted The license obtained from the SFC for retail crypto trading services in August is set to play an important role in these developments. The firm envisions participating in potential spot crypto ETFs by facilitating crypto transactions related to ETFs and offering crypto custody services. This participation underlines HashKey’s commitment to developing the crypto ecosystem in Hong Kong.
Also read: Fundstrat’s Tom Lee Sees Bitcoin (BTC) Price Reaching $150K in 12 Months
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Kelvin is a distinguished author specializing in crypto and finance, with a bachelor’s degree in Actuarial Science. Known for her sharp analysis and insightful content, she is fluent in English and specializes in comprehensive research and on-time delivery.
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