The Hong Kong Securities and Futures Commission (SFC) has officially approved a number of Spot Bitcoin and Ethereum exchange traded funds (ETFs) in the region.
According to , ChinaAMC, Harvest, and Bosera HashKey Bitcoin and Ether ETFs have been approved. SFC official website. Vocera Asset Management’s ETF is joint management Because we are affiliated with HashKey Capital, the names of both companies are combined in the list.
Earlier this month, securities regulators granted conditional approval, and with this formal approval, the trading date has been set for April 30, China AMC confirmed in a release shared. Decryption.
“Bitcoin and Ether Spot ETFs provide retail and institutional investors with a safe, efficient and convenient means to invest in virtual assets in a regulated framework.” ChinaAMC Digital Asset Responsibility Mr. Thomas Zhu, CEO and Head of Family Office Business, said: press release“With the increasing adoption of ETFs in institutional asset allocation and retail trading in Hong Kong, we expect solid demand for our products.”
It was previously confirmed that China AMC and harvest global investment The ETF will use digital asset platform OSL as a “sub-custodian partner.” OSL said Decryption He said the conditional approval already indicates “substantial completion of the regulatory review process” and that the company is working “intensively” towards launch.
It has yet to be confirmed whether mainland Chinese investors will be able to buy these ETFs, which could result in up to $25 billion flowing into the market. However, veteran crypto analyst Markus Thielen said: Decryptionthis is unlikely to happen for at least 6 months unless there are significant regulatory changes.
China has a long and troubled history with cryptocurrencies, effectively banning them multiple times. However, OSL CEO Patrick Pan said: Decryption Approval of spot ETFs in Hong Kong could lead to “more progressive” regulations in China, causing ripple effects across the region.
Decryption has reached out to HashKey and OSL for comment and will update this article if we receive a response.
