Ethereum ETF Nearing Approval on Monday in Hong Kong

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According to reports, Hong Kong is close to reaching a major development in the world of cryptocurrencies. It seems that authorities are on the verge of giving the green light for the trading of spot exchange-funded trusts investing in Bitcoin (BTC) and Ethereum (ETH) directly. Sources familiar with the matter suggest that this approval could be announced as early as Monday, according to Bloomberg.

Some expected organizations planning to debut are Harvest Fund Management’s international branch, a collaboration between Bosera Asset Management and HashKey Capital. Pending regulatory approval from the Securities and Futures Commission (SFC) and arranging listing particulars with Hong Kong Exchange, these entities aim to introduce Bitcoin and Ethereum spot ETFs.

In Hong Kong, there are signs that cryptocurrency exchange-traded funds (ETFs) may soon be approved, following similar trends in the US this year. The launch of Bitcoin spot solutions in the US has generated considerable interest and trading volume.

When Ethereum ETF in US?

Bitcoin ETFs have gained approval in the US, but Ethereum versions are still uncertain. In contrast, neither option is accessible in Hong Kong as of now. However, if rumors prove true, both Bitcoin ETFs and Ethereum solutions may debut in this market simultaneously.

The status of Ethereum ETFs in the US remains uncertain. While the SEC has a deadline of May 23rd to make a decision on the applications, they have yet to provide clarity on the situation. Additionally, the regulator has initiated investigations against the Ethereum Foundation – a significant non-profit organization linked to Ethereum.

Without concrete information, the discourse surrounding Ethereum ETFs in the US market is dominated by diverse views and evaluations from banking industry experts. If we synthesize their perspectives, it appears that the outlook for Ethereum ETFs is not promising at the moment.

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2024-04-12 16:30