Hong Kong to Launch Spot Ethereum ETF Before the US Amid Burgeoning Crypto Market and Regulatory Approval
Hong Kong is looking to launch a spot Ethereum ETF before the United States, taking advantage of the growing crypto market and regulatory support. While spot Bitcoin ETF applications are being processed in Hong Kong, the industry is calling for swift action on spot ETF approvals, particularly for spot Ethereum ETFs. The US SEC recently delayed BlackRock and Fidelity's spot Ether ETF applications, with experts anticipating approval at the end of May. Backed by demand from spot Bitcoin ETFs in the US and Bitcoin ETPs and ETNs in Europe, Bitcoin price hit a new all-time high of $70,000 last week.
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