Hong Kong to approve spot bitcoin, ether ETFs as soon as Monday: Bloomberg
Hong Kong regulators are expected to greenlight spot ETFs for both bitcoin and ether as early as Monday, Bloomberg reported, citing sources familiar with the matter.
As part of the approval, a subsidiary of Chinese asset manager Harvest Fund Management Company is expected to clinch approval to operate as an issuer of a bitcoin and an ether fund. In addition, a partnership between Bosera Asset Management (International) Co. and HashKey Capital will likely receive approval to offer both types of spot ETFs. As The Block reported earlier Friday , HashKey's chief executive, Livio Weng, said that a spot ether ETF approval would be forthcoming if the issue of on-chain staking can be resolved.
The first batch of issuers will tentatively launch both types of spot ETFs at the end of April, according to Bloomberg.
The anticipated approvals come after the Hong Kong Securities and Futures Commission signaled it would clear the path to increasing institutional investors’ access to digital asset-based investments. Earlier this month, the SFC gave Harvest and China Asset Management clearance to manage cryptocurrency-based funds, according to Bloomberg.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
SEC Faces Deadline for Grayscale XRP ETF Decision
Ethereum Bulls Remain Unfazed: Analyzing Market Confidence After $232 Million Liquidation
Ethereum’s price is fluctuating around $3,700, influenced by US credit and labor data, with traders cautiously avoiding high leverage. Whale activity indicates limited bearish sentiment, but there is insufficient confidence in a rapid rebound. No warning signals have been observed in the derivatives market, and a recovery will require clearer macroeconomic signals. Summary generated by Mars AI. This summary is produced by the Mars AI model, and the accuracy and completeness of its content are still being iteratively updated.
BNY Mellon Empowers Crypto Ecosystem with Robust Infrastructure
In Brief BNY Mellon enhances its crypto ecosystem role through infrastructure services, not its own coin. The bank supports stablecoin projects instead of launching an altcoin amid positive market conditions. BNY Mellon prioritizes infrastructure over token issuance, promoting collaboration and ecosystem strength.
Crypto Surge Revives Investor Optimism
In Brief The crypto market exhibits signs of recovery post-major liquidations. Ethereum, Dogecoin, Cardano, and XRP have shown significant gains. Technological innovations and ETF expectations contribute to market optimism.
Trending news
MoreCrypto prices
More
