Hong Kong steps into a new era of cryptocurrency investment as the Securities and Futures Commission approves physical ETFs for Bitcoin and Ethereum.
This pivotal move, in partnership with major financial institutions, promises enhanced market stability and liquidity, especially with the upcoming Bitcoin halving event in 2024.
Explore the full details of these groundbreaking developments in our comprehensive analysis.
SFC Greenlights Three Firms for Cryptocurrency ETFs
The Hong Kong Securities and Futures Commission (SFC) has approved physical Bitcoin (BTC) and Ethereum (ETH) ETFs.
The following three companies have received approval, which will reportedly allow investors to directly use Bitcoin and Ethereum to purchase shares in the corresponding ETFs.
- China Asset Management
- Bosera Capital
- HashKey Capital
China Asset Management announced that it has partnered with OSL Digital Securities, a licensed cryptocurrency exchange operator, and BOC International Prudential Trusteeship, a leading custodian.
These collaborations are aimed at facilitating the provision of physical ETFs for Bitcoin and Ethereum.
The introduction of physical cryptocurrency ETFs in Hong Kong is expected to provide local investors with new opportunities to engage in the cryptocurrency market.
This development is anticipated to enhance the liquidity and stability of the Bitcoin and Ethereum markets. Additionally, the upcoming Bitcoin halving event around April 20, 2024, is expected to positively influence the cryptocurrency market, compounded by the approval of these physical ETFs.
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