Hong Kong regulators on Monday approved the launch of spot bitcoin and ether exchange-traded funds (ETFs), asset managers said.
Hong Kong regulators on Monday approved the launch of spot bitcoin and ether exchange-traded funds , asset managers said.
ChinaAMC, Harvest Global and Bosera International are among those that have been given the green light to issue ETFs. Crypto trading is effectively banned in mainland China after a massive crackdown on the sector in 2021, however, Hong Kong has slowly been trying to make itself a regulated crypto hub.Three ETF providers have been approved by Hong Kong's Securities and Futures Commission .ChinaAMC said that it had received regulatory approval for the provision of"virtual asset management services" and it is"actively deploying resources in the development" of a spot bitcoin and ether ETF.
Hong Kong would be one of the first places in the world to approve an ether ETF. The U.S. Securities and Exchange Commission has not yet approved such a product and asset managers
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