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Hong Kong Securities and Futures Commission Approval
The Hong Kong Securities and Futures Commission (SFC) has recently approved the first spot Bitcoin and Ethereum exchange-traded funds (ETFs). This marks a significant development in the digital asset investment landscape.
Approved ETF Issuers
- China Asset Management Co. (China AMC)
- Harvest Global Investments
- Bosera International
- HashKey Capital
China AMC’s Bitcoin and Ethereum ETFs
China AMC’s Hong Kong subsidiary has been granted the rights to offer digital asset management services to investors. The firm plans to launch ETF products linked to spot Bitcoin (BTC) and Ethereum (ETH). China AMC will collaborate with OSL Digital Securities and Bank of China International-Prudential Trustee Limited for these offerings.
Harvest Global Investments’ Crypto ETFs
Harvest Global Investments has received in-principle approval from the SFC for two spot crypto ETFs. These ETFs aim to address issues such as high margin requirements and price premiums, providing a more accurate reflection of Bitcoin’s immediate value.
Bosera International and HashKey Capital Partnership
Bosera International and HashKey Capital have also been authorized to offer Bitcoin and Ethereum ETFs. Their strategic cooperation was announced during the 2024 Hong Kong Web3 Festival.
Market Response
Following the ETF approvals, Bitcoin and Ethereum prices have shown positive movements. Bitcoin is currently trading at $66,321, up by 2.4% from the previous day. Ethereum is trading at $3,250, reflecting a 5.2% increase within the last 24 hours.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
