Spot Bitcoin and Ethereum ETFs Granted Initial Approval in Hong Kong: Report
Hong Kong regulators have granted initial approval for new exchange-traded funds (ETFs). Focusing on Bitcoin (BTC) and Ethereum (ETH).
Reports indicate that Hong Kong-based funds, including ChinaAMC, Harvest Global, and Bosera International, have received approval from the Securities and Futures Commission (SFC) to offer ETF products. ChinaAMC. In collaboration with OSL Digital Securities, is developing spot BTC and ETH ETFs. However, the launch dates for these products are yet to be determined.
Previously, Harvest Fund Management was reported to be on track to launch a spot market BTC ETF. With the SFC granting permissions for crypto management services to Harvest and China Asset Management. Notably, the U.S. Securities and Exchange Commission (SEC) approved spot market ETFs in the US in January, resulting in a significant surge in BTC’s value, up over 36% since then.
Clever Robot News Desk 17th April 2024
Related Article
