{"id":22278,"date":"2022-03-29T11:04:47","date_gmt":"2022-03-29T10:04:47","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=22278"},"modified":"2022-03-29T11:04:53","modified_gmt":"2022-03-29T10:04:53","slug":"huobi-reportedly-plans-crypto-etf-launch-in-hong-kong","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/huobi-reportedly-plans-crypto-etf-launch-in-hong-kong\/","title":{"rendered":"Huobi reportedly plans crypto ETF launch in Hong Kong"},"content":{"rendered":"\n
Huobi technologies a subsidiary of Huobi Global<\/a> is proposing to develop an exchange-traded fund (ETF) that will track popular cryptocurrencies in Hong Kong.<\/h5>\n\n\n\n
\"Huobi
Huobi reportedly plans crypto ETF launch in Hong Kong<\/figcaption><\/figure><\/div>\n\n\n\n

Huobi has written to the Securities and Futures Commission (SFC) in Hong Kong\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, stating that the ETF will be structured in such a way that it will be accessible to retail investors with total assets of less than HK$8 million ($1 million).<\/p>\n\n\n\n

The move would be Hong Kong's first foray into cryptocurrency for regular investors. At the moment, crypto exchanges in the city are only permitted to serve professional investors.<\/p>\n\n\n\n

Huobi hopes for more lenient crypto laws in Hong Kong<\/h2>\n\n\n\n

According to The South China Morning Post, the fund manager <\/a>is counting on an eventual relaxation of the professionals-only regulation for crypto investment. It's also betting on getting the ETF approved by keeping all of its trading and redemption in the city.<\/p>\n\n\n\n

This is in the face of a planned measure that would prohibit merchants from directly exchanging Bitcoin and other cryptocurrencies, which would be disastrous for the city's crypto uptake.<\/p>\n\n\n\n

However, the SFC recently loosened its professionals-only policy on some ETFs, implying that it may do so for crypto-related products as well. The SFC's principal purpose is to safeguard individual investors from market shocks and volatility, which the crypto market is particularly vulnerable to.<\/p>\n\n\n\n

Huobi already provides professional investors with a number of cryptocurrency-related products<\/a>. It is one of only four fund managers allowed to do so by the SFC.<\/p>\n\n\n\n

While crypto ETFs are currently available in certain American and European markets, retailers in Asia have fewer options for investing in the area. However, more lenient policies in Hong Kong, a key financial centre, may change that perception.<\/p>\n\n\n\n

ETFs<\/a> are also a good way to get additional money into crypto because they allow investors to maintain exposure to the market without having to buy any digital assets directly.<\/p>\n","protected":false},"excerpt":{"rendered":"

Huobi technologies a subsidiary of Huobi Global is proposing to develop an exchange-traded fund (ETF) that will track popular cryptocurrencies in Hong Kong. Huobi has written to the Securities and Futures Commission (SFC) in Hong Kong , stating that the ETF will be structured in such a way that it will be accessible to retail […]<\/p>\n","protected":false},"author":12,"featured_media":22294,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[940,1134,368,1543],"class_list":["post-22278","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-etf","tag-hong-kong","tag-huobi","tag-sfc"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/03\/image-199.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/22278","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=22278"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/22278\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/22294"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=22278"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=22278"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=22278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}