Hong Kong is considering approving spot exchange-traded funds (ETFs) for Bitcoin (BTC) and Ether (ETH) as early as this Monday, a development that may drastically alter the cryptocurrency market.
The schedule for clearance is still open to last-minute modifications, according to sources close to Bloomberg. The possibility of these products being released by the end of the month is on the table.
Though the US has not approved Ether ETF products, accepting these spot crypto ETFs would be a significant milestone because spot Bitcoin ETFs were approved in January 2024.
With more institutional investment and a more substantial reputation as a financial hub that welcomes cryptocurrencies, this move has the potential to position Hong Kong as Asia’s preeminent hub for digital assets.
Harvest Global Investments and a product by the joint Bosera Asset Management (International) Co. and HashKey Capital were the first to get a green light for potential approval.
The Securities a
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