- The Securities and Futures Commission (SFC) has not yet given its regulatory permission.
- Public statements on the subject have been non-existent from either Harvest or the SFC.
Hong Kong could approve Bitcoin and Ethereum ETFs as soon as next Monday, which would be a huge deal for the crypto community. Bloomberg broke the news, and the crypto world is ecstatic, particularly in light of the phenomenal performance of Spot Bitcoin ETFs in the US. Furthermore, the report highlights Hong Kong’s determination to further establish itself as a premier center for digital assets.
Bloomberg has reported that the Hong Kong government is considering approving Spot ETFs that invest directly in Ethereum and Bitcoin, two of the most popular cryptocurrencies. Worldwide organizations such as Harvest Fund Management Co. and a partnership between Bosera Asset Management (International) Co. and HashKey Capital are said to be in the running to establish spot-crypto ETFs, should the rumors pan out.
Still Open to Last Minute Adjustments
The Securities and Futures Commission (SFC) has not yet given its regulatory permission, but these ETFs in Hong Kong are expected to be launched by the end of the month if listing formalities are finalized with the Hong Kong Exchanges & Clearing Ltd.
Earlier reports had suggested that Harvest Fund Management Co. was close to obtaining the necessary approvals to launch a Spot Bitcoin ETF in Hong Kong, so this latest clearance comes as no surprise. Nonetheless, public statements on the subject have been non-existent from either Harvest or the SFC.
Furthermore, individuals informed of the situation have said that the schedule is still open to possible last-minute adjustments, despite the excitement surrounding the approvals. Furthermore, it was previously revealed that Hong Kong had intended to launch the Ethereum ETF ahead of the United States.
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