Os exchange-traded funds (ETFs) based on Bitcoin cash may be available to investors in Hong Kong later this month, according to information do The Block.
The Hong Kong Securities and Futures Commission (SFC) on April 15 marked a new chapter for the cryptocurrency market in Asia. In a recent decision, the authority approved the launch of several exchange-traded funds (ETFs) focused on Bitcoin and Ethereum.
Patrick Pan, chairman and CEO of OSL, highlighted that Hong Kong asset managers will soon be allowed to launch their spot Bitcoin ETFs as early as the end of this month.
“Reports suggest a local Bitcoin ETF could start in late April, with a vacant Ethereum ETF soon after,” he said. “All parties are working quickly to complete the process. However, the exact dates have not yet been confirmed.”
The recent movement The approval of ETFs in Hong Kong is seen as a major step forward for the cryptoasset sector in the region, promoting a safer and more regulated integration of these assets into the financial market.
“We see the recent approval, in principle, positively, as it brings the industry closer to the launch of spot crypto ETFs,” highlighted Patrick Pan.
Among those benefiting from the new policy are renowned asset managers such as China Asset Management, Bosera Capital and HashKey Capital Limited. These companies received the green light to operate their spot ETFs, a modality that allows investors to trade fund shares directly with cryptocurrencies. Additionally, Harvest Global Investments has also received in-principle approval to operate its own spot ETFs.
It is worth noting that the new ETFs have strategic partnerships with OSL Digital Securities and BOCI International, highlighting the importance of solid collaboration to ensure the success and security of these products.
