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Hong Kong Approves Multiple Spot Bitcoin and Ethereum ETFs

This positions Hong Kong as the second jurisdiction to launch a spot Bitcoin ETF in 2024, after the U.S. SEC’s approval of 11 spot BTC ETFs, and the first jurisdiction to approve a spot Ethereum ETF, with the U.S. still pending approval for any Ethereum ETFs.

  • Hong Kong SFC approves spot Ethereum and Bitcoin ETFs, enhancing its stature as a major global financial hub.
  • These approvals position Hong Kong as a leader in regulated cryptocurrency investment products, promising to bolster the city's appeal to both retail and institutional investors.

The Hong Kong Securities and Futures Commission (SFC) has approved multiple spot Bitcoin and Ethereum exchange-traded funds (ETFs). Approvals have been granted to China Asset Management, Bosera Capital, and HashKey Capital Limited, among others.

This positions Hong Kong as the second jurisdiction to launch a spot Bitcoin ETF in 2024, after the U.S. Securities and Exchange Commission’s (SEC) landmark approval of 11 spot BTC ETFs. This also makes Hong Kong the first jurisdiction to approve a spot Ethereum ETF, with the U.S. still pending approval for any Ethereum ETFs.

The approval of these ETFs is expected to strengthen Hong Kong’s role as a global financial center and offer regulated, innovative investment options for both retail and institutional investors.

Furthermore, considering that the U.S. spot BTC ETFs led to BTC reaching a new all-time high, it is highly likely that a similar trend will occur following the Hong Kong approvals. As per a report, Bitcoin (BTC) is likely to reach its all-time high again later this month and maintain a bullish trend in the coming weeks.

Moreover, according to crypto journalist Colin Wu, Harvest Global Investments also stated that the Hong Kong SFC has given in-principle approval for their Bitcoin and Ethereum digital asset spot ETFs.


Edited by Harshajit Sarmah

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