Hong Kong Regulator Approves Bitcoin and Ethereum Spot ETFs

The Hong Kong Securities and Futures Commission (SFC) has approved applications from Boshi International, HashKey Capital, China Asset Management, and Harvest Investment to launch spot Bitcoin and Ethereum ETFs.

Breaking: China Asset Management, Bosera Capital, HashKey Capital Limited, etc. announced that their applications for Bitcoin and Ethereum spot ETFs have been approved by the Hong Kong Securities and Futures Commission, allowing investors to directly use Bitcoin and Ethereum to… pic.twitter.com/R6VC9okbG7

— Wu Blockchain (@WuBlockchain) April 15, 2024

On April 12, Bloomberg sources suggested that the special administrative region of China would register the products by April 15. They cautioned that the timeline could change “at the last minute.”

According to Matrixport’s estimates, demand for Bitcoin ETFs in Hong Kong will reach $25 billion.

Bitcoin and Ethereum are responding positively. According to CoinGecko, the daily growth rate of the first asset increased to 2.7%, and the second to 5.3%, offsetting the drop on April 12–13.

Back in November 2023, ForkLog reported that the SFC was considering granting retail investors access to spot Bitcoin ETFs.

Later, a member of the local Legislative Council, Johnny Ng Kit-chong, stated the need for the jurisdiction to “take the initiative” in the implementation of crypto funds.