The Hong Kong SEC has officially approved the Spot Bitcoin and Ethereum ETFs, which will begin trading on Tuesday, April 30.
The Hong Kong Securities and Futures Commission (SFC) has approved two Spot Bitcoin & Ethereum ETF pairs in a momentous ruling.
Boshi Funds and HashKey Capital Limited, prominent virtual asset and conventional finance entities, have partnered to lead this undertaking.
Additionally, ChinaAMC has endorsed its Bitcoin and Ethereum exchange-traded funds (ETFs).
Hashkey and Boshi’s Spot Bitcoin and Ethereum ETFs Receive Approval
Boshi International states they are “very pleased to join forces with HashKey to jointly open up a new chapter in Hong Kong’s virtual asset market.”
They perceive the endorsement of these exchange-traded funds (ETFs) as broadening investors’ asset allocation choices and reinforcing Hong Kong’s reputation as “a global financial capital and virtual asset center.”
HashKey Capital echoed this sentiment.
According to them, the approval of virtual asset spot ETFs “has built a bridge for traditional institutions to allocate virtual assets.”
Consequently, this expands accessibility for both institutional and retail investors.
Moreover, by approving the inaugural Ethereum ETF, Hong Kong has further solidified its position, a significant milestone.
Additionally, both organizations place considerable importance on the currency-holding subscription mechanism; Boshi International, for instance, asserts that it “allows investors to directly use Bitcoin and Ethereum to subscribe for corresponding ETF shares.”
It will increase accessibility and convenience for investors.
About ChinaAMC ETFs
Concurrently, ChinaAMC obtained authorization to introduce the ChinaAMC Ethereum ETF and ChinaAMC Bitcoin ETF.
The anticipated listing date for these ETFs is April 30, 2024.
The director of digital asset management at ChinaAMC, Zhu Haokang, emphasized the significance of these ETFs in facilitating the allocation of digital assets in a secure, efficient, and user-friendly manner.
Haokang emphasized, “The issuance of Asia Spot Bitcoin and Ethereum ETFs provides retail and institutional investors with a safe, efficient, and convenient excellent tool to allocate digital assets.”
Furthermore, these ETFs are considered an accessible and regulated substitute for physical cryptocurrencies.
Such products appeal to investors interested in gaining entry into the cryptocurrency market.
Moreover, China Asset Management reaffirmed its dedication to fulfilling client investment requirements via inventive product strategies, which aligns with Hong Kong’s objective of fabricating a robust Web 3.0 ecosystem.
