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Hong Kong expected to approve spot Bitcoin ETFs mid-April – Crypto News

Published

2 years ago

April 10, 2024

Dripp

Hong Kong’s Securities and Futures Commission (SFC) will likely announce the approval of the city’s inaugural spot Bitcoin exchange-traded funds (ETFs) around April 15, according to sources familiar with the matter cited by Reuters.

The announcement is expected to precede the launch of the financial products in April.

The approval will enable both institutional and retail investors to engage in Bitcoin investments via regulated ETFs, with the Hong Kong Stock Exchange reportedly aiming to complete listing processes shortly after approval.

The SFC has recently expanded its list of authorized fund companies, including Harvest Global Investment and China Asset Management, to issue crypto-related fund products.

The SFC and the Hong Kong Monetary Authority (HKMA) have established rigorous guidelines for these virtual asset products, ensuring they meet the same regulatory standards as traditional mutual funds.

The expected sanctioning of spot Bitcoin ETFs in Hong Kong comes after the U.S. Securities and Exchange Commission approved similar products in January.

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