InfoQuest – CNBC news agency reported citing information from an asset manager that Hong Kong regulators have approved a spot ETF that allows direct investment in two cryptocurrencies. Like Bitcoin and Ether today (April 15).
According to reports, Hong Kong's Securities and Futures Commission (SFC) has issued an order allowing three ETF providers to offer crypto spot ETFs.
China AMC Company (ChinaAMC) revealed that the company has received regulatory approval to offer a “virtual asset management service” currently accelerating the development of spot ETFs to invest in Bitcoin and Ether.
Harvest Global and Bocera International also said they had received permission.
However, the team has not officially announced this yet. This is only a news report from CNBC news at this time.
The move would make Hong Kong the first Asian city to launch a spot bitcoin ETF, much sooner than industry analysts expected. Analysts predict that the fund will be launched this year.
Hong Kong authorities are making efforts to make trade finance more attractive. After Hong Kong's status as a global trading hub was tarnished by restrictions imposed by Hong Kong during the COVID-19 pandemic, China's economy collapsed. and tensions between China and the United States
Such a move has taken place. After the US Securities and Exchange Commission (SEC) launched the Spot Bitcoin ETF in January, BitMEX Research said it attracted approximately US$12 billion in net funding.
The approval of the Spot Bitcoin ETF allows investors who buy the fund to not invest directly in Bitcoin. and receive more attention from institutional investors. This is due to concerns that Bitcoin is an asset that lacks regulatory control from government regulators after previously avoiding investing in Bitcoin.
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