Bitcoin and Ethereum ETFs are predicted to be launched in Hong Kong

Both Bitcoin and Ethereum ETFs are expected to be approved as early as possible

Several issuers have reported the approval of their spot Bitcoin and Ethereum Exchange-Traded Funds (ETFs) applications on April 15, further solidifying Hong Kong's status as a crypto hub. Despite these developments, the Securities and Futures Commission (SFC), Hong Kong’s primary financial regulator, has not issued an official statement on the matter. At present, the SFC has not responded to requests for comment from CryptoSlate. Notably, China Asset Management, one of the issuers, revealed that its Hong Kong entity received regulatory clearance to offer virtual asset management services, paving the way for Spot Bitcoin and Ethereum products. China Asset Management intends to collaborate with OSL Digital Securities for the launch, with BOC International Prudential Trusteeship serving as the custodian.

Similarly, Bosera Capital and Harvest Global Investments announced the approval of their applications for Bitcoin and Ethereum spot ETFs. However, these announcements have been removed as of the latest update. Market observers anticipate that the approved crypto ETFs will attract new investments to the region and transform the market by offering a more efficient and less risky asset management approach through the in-kind creation model. The reported approval of these crypto ETFs further cements Hong Kong's position as a leading crypto hub in Asia. Hong Kong has garnered significant attention and acclaim from the crypto industry over the past year due to its supportive regulatory stance towards cryptocurrencies.