Hong Kong Approves First Set of Spot Bitcoin and Ether ETFs

Hong Kong has bolstered its bid to become a regional crypto hub with the approval of applications of several spot bitcoin and ether exchange-traded funds.

The Hong Kong unit of China Asset Management, has confirmed the receipt of an approval in principle from the Hong Kong Securities and Futures Commission (SFC) to offer retail asset management services related to spot crypto ETFs.

Harvest Global Investments’ two spot crypto ETFs applications have also received in-principle approval from the SFC.

Bosera Asset Management and HashKey Capital have also seen their two crypto ETFs granted conditional approval, The Block reports.

Bosera and HashKey are working together to launch a spot bitcoin ETF, the Bosera HashKey Bitcoin ETF, and a spot ether ETF, the Bosera HashKey Ether ETF. The two ETFs are expected to allow investors to subscribe for ETF shares using bitcoin and ether directly.

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