Hong Kong Regulator SFC Approves Spot Bitcoin and Ethereum ETF
According to expected schedules, the Hong Kong Securities and Futures Commission (SFC) has approved trading of spot Bitcoin ETFs and spot Ethereum ETFs in the region. This marks Hong Kong as the first jurisdiction to introduce a spot Ethereum ETF, while the US SEC is also deliberating on similar issues
Top Firms Secure Bitcoin and Ethereum ETF Approval in Hong Kong
As reported by local sources, several leading financial firms, including China Asset Management, Bosera Capital, and HashKey Capital Limited, have submitted applications to launch Bitcoin and Ethereum spot exchange-traded funds (ETFs) to the Hong Kong Securities and Futures Commission. received approval from. new release. This development allows investors to directly use Bitcoin and Ethereum to buy shares of these ETFs.
In addition to these approvals, Harvest Global Investments announced that the Hong Kong Securities and Futures Commission has given preliminary approval for the creation of Bitcoin and Ethereum digital asset spot ETFs, signaling further expansion in the digital asset investment landscape. Speaking about the development, Han Tongli, CEO and CIO of Harvest International, said:
Harvest’s investment in two major digital asset spot ETF products is backed by OSL Digital Securities Co., Ltd., the first digital asset platform licensed and insured by HK’ SFC. It will be done through. This will help effectively resolve excessive margin requirements, price premiums and carryovers resulting from short positions. It can solve problems such as storage losses and more accurately reflect the real-time value of Bitcoin.
Will Mainland Chinese Investors Get Access?
Currently, Mainland China has issued a complete crypto ban in the region. Therefore, the chances of accessing Bitcoin and Ethereum ETFs listed in Hong Kong appear slim at this stage. Issuers in Hong Kong have confirmed that regulatory restrictions ban mainland Chinese funds from investing in cryptocurrency-related ETFs.
Recent communications from ETF issuers in Hong Kong have cleared up misconceptions about the investment capabilities of mainland Chinese investors participating in the Southbound Stock Connect program. The Southbound Stock Connect program, created to encourage cross-border investment between mainland China and Hong Kong, does not include digital currency products due to China’s conservative stance on cryptocurrency risk.
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Bhushan is a FinTech enthusiast and has a good ability to understand financial markets. His interest in economics and finance draws his attention to the emerging Blockchain Technology and Cryptocurrency markets. He is in a constant learning process and motivates himself by sharing the knowledge he has acquired. In her spare time, she reads thriller novels and sometimes explores her culinary skills.
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