Hong Kong approves first batch of spot bitcoin, ether ETFs in drive to become crypto hub
Hong Kong approved several spot bitcoin ETFs and spot ether ETFs managed by China Asset Management, Bosera and HashKey on Monday. The asset managers did not disclose the timeline of the launch.
China Asset Management, a major Chinese asset manager, said that its Hong Kong unit has received approval from the Hong Kong Securities and Futures Commission to offer retail asset management services related to spot crypto ETFs. It plans to issue spot bitcoin and ether ETFs in collaboration with OSL and BOCI International.
Bosera Asset Management, a Hong Kong unit of a major Chinese asset manager, and HashKey also told The Block on Monday that the regulator has given conditional approval for two spot crypto ETFs jointly managed by the pair.
Bosera and HashKey told The Block that the pair will work together to launch a spot bitcoin ETF, the Bosera HashKey Bitcoin BTC +2.04% ETF, and a spot ether ETF, the Bosera HashKey Ether ETF. The two ETFs are expected to allow investors to subscribe for ETF shares using bitcoin and ether directly. They did not disclose the timeline of the launch.
"The introduction of the Virtual Asset Spot ETFs not only provides investors with new asset allocation opportunities but also reinforces Hong Kong's status as an international financial center and a hub for virtual assets,” Bosera said in a statement.
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