According to the set schedule, the Hong Kong Securities and Futures Commission (SFC) has granted approval for trading spot Bitcoin and Ethereum ETFs in their market. This designation makes Hong Kong a trailblazer, as it is currently the only region to have approved a spot Ethereum ETF, with the US SEC still in deliberation.
Approval of an HK ETF for Bitcoin and Ethereum signifies that these cryptocurrencies are moving towards mainstream acceptance, making it simple for individuals, including your mother, to purchase them through conventional banking channels.
This is a game changer.
— Joseph Young (@iamjosephyoung) April 15, 2024
Top Firms Secure Bitcoin, Ethereum ETF Approval in Hong Kong
Some notable financial companies, such as China Asset Management, Bosera Capital, and HashKey Capital Limited, have been given the green light by the Hong Kong Securities and Futures Commission to introduce Bitcoin and Ethereum spot exchange-traded funds (ETFs). This means that investors can now buy shares in these ETFs to gain exposure to these cryptocurrencies directly. (Source: local news outlet)
Harvest Global Investments announced that the Hong Kong Securities and Futures Commission has given initial approval for creating Bitcoin and Ethereum spot ETFs (Exchange Traded Funds). This news indicates more growth opportunities in the digital asset investment sector. Han Tongli, Harvest International’s CEO and CIO, commented on this progress.
Harvest’s decision to invest in two significant digital asset ETFs has received preliminary approval this time around. This approval underscores Hong Kong’s edge in the digital asset sector, while also showcasing Harvest International’s commitment to fostering industry progress and customer satisfaction. In essence, it underlines our ongoing role as pioneers in the realm of blockchain assets and artificial intelligence investments.
Harvest intends to invest in two leading digital asset spot ETFs using OSL Digital Securities, Hong Kong’s first licensed and insured digital asset platform overseen by the Securities and Futures Commission. This move will help address issues of excessive margin demands, price discrepancies, and rollovers due to limited short position availability. It also helps prevent warehouse losses and provides a more precise reflection of Bitcoin’s real-time worth.
Will Mainland Chinese Investors Get Access
At present, Mainland China has imposed a strict ban on cryptocurrencies within its jurisdiction. Consequently, it seems unlikely that Hong Kong-traded Bitcoin and Ethereum ETFs will be accessible to Chinese investors at this time. Fund managers in Hong Kong have confirmed that regulatory restrictions prevent Chinese funds from investing in crypto ETFs.
Read More
- LUNC PREDICTION. LUNC cryptocurrency
- SOL PREDICTION. SOL cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- BICO PREDICTION. BICO cryptocurrency
- USD COP PREDICTION
- USD CLP PREDICTION
- USD ZAR PREDICTION
- VANRY PREDICTION. VANRY cryptocurrency
- USD PHP PREDICTION
- BSW PREDICTION. BSW cryptocurrency
2024-04-15 10:02