Hong Kong Securities and Futures Commission (SFC) first of its kind to allow spot Bitcoin and Ethereum exchange-traded funds (ETFs). Hong Kong has turned out to be the first of the jurisdictions in the world to allow a spot Ethereum ETF, even as the US sees several filings for the same product.
Some of the approved players include such prominent financial entities as China Asset Management, Bosera Capital, and HashKey Capital Limited. They have received approvals to be able to offer Bitcoin and Ethereum spot ETFs, where the two digital assets will be used by the investors in buying shares of the ETFs directly.
Another product that was given preliminary approval was Harvest Global Investments, who intends to create spot ETFs for Bitcoin and Ethereum digital assets, further deepening a more comprehensive landscape for digital asset investment.
Han Tongli, CEO and CIO of Harvest International, said these ETFs will be very important for reflecting the current value of Bitcoin in a timely fashion, solving problems such as overburdensome margin requirements and price premiums. Current regulatory constraints effectively mean mainland Chinese funds cannot invest in cryptocurrency-related ETFs listed in Hong Kong.
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