Hong Kong will be expected to approve Bitcoin You can also find out more about the following: Ethereum According to reports, exchange-traded fund (ETFs ) could be available as early as this Monday. Bloomberg.
According to sources with knowledge of the subject, issuers that are likely to get approval for spot crypto ETFs include an international division of Chinese asset manager Harvest Fund Management Co. as well as a partnership between Bosera Asset Management International Co.
These firms intend to launch their respective ETFs by the end of the month, following final approval from the Securities and Futures Commission (SFC) and completion of listing details with Hong Kong Exchanges & Clearing Ltd. (HKEX).
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Hong Kong can wave ETF green Flag on Monday
This week, reports indicated that Harvest had received permission from the SFC to launch a Bitcoin ETF spot in Hong Kong. On April 9, the SFC granted Harvest and China Asset Management permission to offer virtual asset related fund management.
In the United States, spot Bitcoin ETFs were introduced on 11 January. This has led to an increase in cryptocurrency market activity this year.
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Hong Kong actively works to establish itself as a digital asset hub. Hong Kong has implemented in June 2023 a regulatory system for providers of digital asset services.
HashKey Group, OSL Digital Securities and other platforms have been approved by the city. Hong Kong allowed the launch of crypto-ETFs based on futures before the expected approval of spot-crypto. The combined assets of the three products CSOP Bitcoin Futures (CSOP Ether Futures), Samsung Bitcoin Futures and CSOP Ether Futures are around $170,000,000.
This report is released at a moment when industry participants are anticipating a Bitcoin halving. Only a few Bitcoins remain. seven days to go for the halvingHong Kong has some good news for Bitcoin lovers.
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Source: watcher.guru