A recent report indicates that spot bitcoin exchange-traded funds (ETFs) are poised to receive approval from Hong Kong regulators as early as this Monday, as stated by “people familiar with the matter.”
Sources Say Hong Kong Set to Approve First Spot Bitcoin ETFs as Early as Monday
This article was published more than a year ago. Some information may no longer be current.
WRITTEN BY
SHARE
Harvest, Hashkey and Bosera ETFs Likely to Debut in Hong Kong Next Week
Following the approval of 11 spot bitcoin ETFs in the U.S., their counterparts in Hong Kong are now anticipated to secure the nod from the country’s Securities and Futures Commission (SFC). Bloomberg reported on Friday that according to insiders, these funds might begin trading on the Hong Kong Stock Exchange (HKSE) by Monday.
According to the report, ETFs managed by Harvest Fund Management Company, Hashkey Capital, and Bosera Asset Management are likely to be approved by the SFC. These firms are reportedly in the final stages of listing arrangements with Hong Kong Exchanges & Clearing Ltd., aiming to launch trading soon. It was further noted that the companies did not immediately respond to inquiries regarding the issue.
Additionally, Bloomberg revealed that on April 9, the SFC granted Harvest and China Asset Management authorization to provide virtual-asset-related fund management services. Many cryptocurrency advocates believe that, similar to the U.S., the demand for bitcoin ( BTC) will likely emanate from Hong Kong and China as well. Since their inception on Jan. 11, 2024, ten U.S. bitcoin ETFs have collectively attracted over 500,000 BTC.
What do you think about the possibility of spot bitcoin ETFs being approved in Hong Kong as early as next week? Share your thoughts and opinions about this subject in the comments section below.
