Hong Kong plans to launch crypto Exchange-Traded Funds (ETFs) by the end of April, following the lead of the United States. This move is intended to enhance Hong Kong’s role in the cryptocurrency market.
Bitcoin and Ethereum ETFs backed by cryptocurrencies are anticipated to launch in Hong Kong by the end of April, reflecting the city’s growing interest in this digital asset class.
A HashKey spokesperson announced in an interview with Bloomberg that their Bosera-HashKey Capital’s crypto spot products would start trading on April 30th. This decision follows Hong Kong’s determined attempts over the past year to create a stringently regulated virtual asset market within its borders. The ultimate goal is to restore Hong Kong’s standing as a leading financial hub in today’s world.
The city currently authorizes the trading of crypto futures ETFs, including CSOP Bitcoin Futures, CSOP Ether Futures, and Samsung Bitcoin Futures. Nevertheless, these three funds collectively manage a relatively small amount of funds, around $175 million. Based on Bloomberg Intelligence’s analysis by ETF Analyst Rebecca Sin, it is projected that Hong Kong’s spot crypto ETFs could amass approximately $1 billion in assets under management by the year 2026.
Last week, according to crypto.news, the Hong Kong Securities and Futures Commission (SFC) granted approval for Boshi International, HashKey Capital, China Asset Management, and Harvest Investment to introduce Bitcoin and Ethereum spot ETFs in the market.
Read More
Sorry. No data so far.
2024-04-24 10:16