Spot crypto exchange-traded funds (ETFs) are expected to launch in Hong Kong next week, according to Reuters.
Bitcoin and Ethereum ETFs
Three asset managers, China Asset Management, Harvest Fund Management, and Bosera Asset Management, have received regulatory approval from the Securities and Futures Commission (SFC) to offer Bitcoin (BTC) and Ethereum (ETH) ETFs. Trading is expected to begin by April 30th.
Hong Kong’s Acceptance
Hong Kong’s approval of spot market ETFs comes shortly after the U.S. Securities and Exchange Commission (SEC) approved similar ETFs.
SEC’s History with Spot ETFs
The SEC initially rejected spot BTC ETFs several times but eventually approved them after a judge ruled that the agency must reconsider its stance. The SEC has delayed a decision on spot Ethereum ETFs, which is now expected in May.
