Hong Kong, renowned for its position as a global financial hub, is contemplating the introduction of exchange-traded funds (ETFs) directly investing in cryptocurrencies.
This initiative is part of Hong Kong’s broader efforts to establish itself as a prominent digital asset hub in the Asia-Pacific region while addressing the repercussions of the JPEX scandal.
Race to Launch Crypto Spot ETFs
Securities and Futures Commission (SFC) CEO Julia Leung revealed that the city is evaluating the possibility of allowing retail investors access to spot ETFs linked to cryptocurrencies, provided regulatory concerns are adequately addressed.
“We welcome proposals using innovative technology that boosts efficiency and customer experience,” Leung stated.
Julia Leung also emphasized the need for a strong regulatory framework, referring to the JPEX incident as a reminder. The SFC has since increased transparency in virtual asset exchange license applications, but Leung did not comment on the ongoing
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