Hong Kong's financial regulator has officially approved the first batch of spot Bitcoin and Ether ETFs for trading.
The first wave of spot Bitcoin and Ether exchange-traded funds have been officially approved to start trading in Hong Kong on April 30.
The ETFs will offer retail and institutional investors a safer and more convenient way to invest in the underlying digital assets under a regulated framework, according to Thomas Zhu, head of digital assets and head of family office business at ChinaAMC. He wrote in the official announcement: Hong Kong will see the launch of three Bitcoin and three Ether-based spot Bitcoin ETFs on April 30, according to an April 2Unlike the cash-creation model of the United States spot Bitcoin ETFs, Hong Kong aims to offer in-kind creation models for ETFs that enable the creation of new ETF shares by using BTC and ETH.
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