{"id":76049,"date":"2024-04-15T05:50:21","date_gmt":"2024-04-15T09:50:21","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=76049"},"modified":"2024-04-15T05:50:51","modified_gmt":"2024-04-15T09:50:51","slug":"hong-kong-sfc-approves-spot-bitcoin-and-ethereum-etf","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/hong-kong-sfc-approves-spot-bitcoin-and-ethereum-etf\/","title":{"rendered":"Hong Kong SFC Approves Spot Bitcoin and Ethereum ETF"},"content":{"rendered":"\n

Following approval from the SFC, Hong Kong now has the first spot Bitcoin and Ethereum ETF<\/a> offerings from four significant financial firms.<\/p>\n\n\n\n

\"Hong<\/figure>\n\n\n\n

The Hong Kong Securities and Futures Commission (SFC) has authorized the trading of spot Bitcoin ETFs and spot Ethereum ETFs in the region by the anticipated schedule.<\/p>\n\n\n\n

This also establishes Hong Kong as the inaugural jurisdiction to issue a spot Ethereum ETF, a development the US SEC has yet to consider.<\/p>\n\n\n\n

\n

HK etf approval means btc and eth are becoming mainstream assets that even your mother could buy from a bank.

This is a game changer.<\/p>— Joseph Young (@iamjosephyoung) April 15, 2024\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a><\/blockquote>

Top Firms Secure Bitcoin, Ethereum ETF Approval in Hong Kong<\/h2>\n\n\n\n

Several notable financial institutions, such as China Asset Management, Bosera Capital, and HashKey Capital Limited, have obtained authorization from the Hong Kong Securities and Futures Commission to introduce spot exchange-traded funds (ETFs) on Bitcoin and Ethereum, according to a local news source<\/use><\/svg><\/span><\/a>.<\/p>\n\n\n\n

This advancement empowers investors to directly purchase shares of these exchange-traded funds (ETFs) using Bitcoin and Ethereum.<\/p>\n\n\n\n

According to Harvest Global Investments, the Hong Kong Securities and Futures Commission<\/a> has also granted preliminary approval to establish Bitcoin and Ethereum digital asset spot ETFs.<\/p>\n\n\n\n

This development indicates that the digital asset investment landscape will continue to grow.<\/p>\n\n\n\n

Regarding the development, Harvest International's CEO and CIO, Han Tongli, stated:<\/p>\n\n\n\n

\n

“This time, Harvest's investment in two major digital asset spot ETF products has been approved in principle, which not only highlights Hong Kong's competitive advantages in the field of digital assets but also demonstrates Harvest International's drive to promote industry innovation and satisfaction. This is a reflection of our continued leadership and innovation in the field of blockchain assets and AI investment.”<\/p>\n<\/blockquote>\n\n\n\n

Harvest will invest in the two main spot ETF products for digital assets via OSL Digital Securities Co., Ltd., the inaugural digital asset platform in Hong Kong, to obtain licensing and insurance from the HK SFC.<\/p>\n\n\n\n

This will facilitate the resolution of the excessive margin requirements, price premiums, and rollovers that result from the insufficiency of short positions.<\/p>\n\n\n\n

It can resolve issues such as warehouse losses and reflect the real-time value of Bitcoin more precisely.<\/p>\n\n\n\n

Will Mainland Chinese Investors Get Access?<\/h2>\n\n\n\n

At present, the People's Republic of China has implemented a comprehensive prohibition on cryptocurrencies in the area.<\/p>\n\n\n\n

Therefore, at this time, its prospects for gaining entry into Hong Kong-listed Bitcoin and Ethereum ETFs appear remote.<\/p>\n\n\n\n

According to Hong Kong issuers ‘ confirmation, regulations prohibit mainland Chinese funds from investing in cryptocurrency-related ETFs.<\/p>\n\n\n\n

Recent correspondence from ETF issuers based in Hong Kong has effectively resolved any uncertainties concerning the investment capacities of mainland Chinese investors engaged in the Southbound Stock Connect initiative.<\/p>\n\n\n\n

The Southbound Stock Connect program, created to promote cross-border investment between mainland China and Hong Kong, does not include digital currency products due to China's conservative position on cryptocurrency risk.<\/p>\n","protected":false},"excerpt":{"rendered":"

Following approval from the SFC, Hong Kong now has the first spot Bitcoin and Ethereum ETF offerings from four significant financial firms. The Hong Kong Securities and Futures Commission (SFC) has authorized the trading of spot Bitcoin ETFs and spot Ethereum ETFs in the region by the anticipated schedule. This also establishes Hong Kong as […]<\/p>\n","protected":false},"author":56,"featured_media":76068,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21,83,26,23],"tags":[17074,14300,8615,16885],"class_list":["post-76049","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-bitcoin-news","category-cryptocurrencies","category-ethereum-news","tag-hong-kong-securities-and-futures-commission","tag-hong-kong-sfc","tag-spot-bitcoin-etf-2","tag-spot-ethereum-etf"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/04\/Hong-Kong-SFC-Approves-Spot-Bitcoin-and-Ethereum-ETF.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/76049","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\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=76049"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/76049\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/76068"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=76049"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=76049"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=76049"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}