More

    Breaking News: Hong Kong Poised to Greenlight Bitcoin and Ether ETFs by Monday, Claims Bloomberg Report

    Hong Kong Set to Approve Spot Bitcoin and Ether ETFs,‌ with Possible Trading by End of Month

    In a potential historic move, it is reported that Hong‍ Kong may⁢ give⁤ approval for spot bitcoin (BTC) and ether (ETH) Exchange-Traded Funds (ETFs) as early as Monday,⁣ according ⁣to sources⁤ familiar with the matter. This development is ​seen ⁢as ‍a significant event for the‌ cryptocurrency market and has the potential‌ to establish Hong Kong as Asia’s ⁣primary digital asset hub. ​

    The timeline for approval is ⁢currently uncertain and subject to ‍change, as it could be approved as soon as ⁤Friday or pushed back‍ to a ‌later date, according to sources.

    Once approval is⁤ granted, ⁢if‌ listing details are finalized with Hong Kong Exchanges⁤ & Clearing (HKEX),​ the‌ products could⁣ potentially be ​launched by the end of the month,⁢ providing investors ‍with ​access to spot bitcoin (BTC) and ether (ETH) products.

    Harvest ⁤Global Investments, one of China’s prominent asset-management companies and reportedly ‍the first to apply ​for a spot bitcoin ETF, along with ​Bosera Asset Management (International) Co. and HashKey⁤ Capital, are⁤ among the companies expected to receive approval for their products.

    While the United States approved spot bitcoin ETFs in January, resulting in⁢ a significant price surge that saw bitcoin reach ⁤a record high‍ of $73K, it has yet ⁢to approve ether ETFs. This potential approval by Hong Kong could be a significant move for the cryptocurrency market globally.

    The city’s market regulator, Hong Kong’s⁣ Securities and Futures Commission (SFC), along with Harvest Global Investments, Bosera Asset Management, Hashkey, and HKEX, have not commented on ⁤this development.

    UPDATE (April 12, 2024, 12:35:00 UTC):

    Adds details throughout.

    Article ‍edited⁤ by Sheldon Reback.

    Latest articles

    Related articles

    Leave a reply

    Please enter your comment!
    Please enter your name here