Hong Kong Officially Nods For Two Spot Bitcoin & Ethereum ETF

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In a significant move, the Hong Kong Securities and Futures Commission (SFC) has granted approval for two Spot Bitcoin & Ethereum Exchange-Traded Fund (ETF) pairs. Boshi Funds and HashKey Capital Limited, prominent figures in both conventional finance and the digital asset sector, have collaborated to lead this groundbreaking project. Furthermore, ChinaAMC has likewise secured SFC’s approval for its own Bitcoin & Ethereum ETFs.

Hashkey & Boshi’s Spot Bitcoin & Ethereum ETFs Get Greenlight

According to Boshi International, they are thrilled to collaborate with HashKey in launching a new phase for Hong Kong’s virtual asset industry. They believe the approval of these ETFs will provide investors with more choices for their portfolios and strengthen Hong Kong’s reputation as a leading international financial center and hub for virtual assets.

HashKey Capital shared the same viewpoint. They expressed that the green light for virtual asset spot ETFs serves as a bridge for traditional institutions to invest in digital assets, thereby expanding investment opportunities for both mainstream and individual investors. Furthermore, this recent approval signifies an important achievement as Hong Kong becomes the first to authorize an Ethereum ETF, strengthening its status in the crypto industry.

Additionally, both firms place great importance on the subscription method involving holding cryptocurrencies. Boshi International explains that this feature enables investors to “subscribe for ETF shares using Bitcoin and Ethereum directly.” This improvement will make transactions more convenient and easier for investors.

About ChinaAMC ETFs

At the same time, ChinaAMC received approval to debut its Bitcoin and Ethereum ETFs on April 30, 2024. These ETFs, headed by Zhu Haokang, ChinaAMC’s digital asset management head, offer a secure, streamlined, and practical method for investors to invest in digital assets.

Haokang highlighted that the introduction of Asia Spot Bitcoin and Ethereum ETFs serves as an effective and secure method for both retail and institutional investors to invest in digital assets. Additionally, these ETFs are regarded as controlled and easily obtainable substitutes for actual cryptocurrencies. This appeal is particularly strong among investors looking to enter the crypto market via regulated investment vehicles.

In line with Hong Kong’s goal of building a robust Web 3.0 community, China Asset Management has pledged to cater to their clients’ investment demands through inventive approaches.

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2024-04-24 15:58