Hong Kong to Approve Spot Bitcoin, Ether ETFs Next Week

The imminent approval positions Hong Kong as a major player in the global cryptocurrency market, enhancing its status as a financial hub.

Hong Kong's Securities and Futures Commission is set to greenlight spot Bitcoin and Ether ETFs as early as next Monday.
The approvals are expected to involve major asset managers like HashKey Capital, Harvest Fund Management, and Bosera Asset Management.
This move could significantly increase institutional investors’ access to digital assets in Asia.
Anticipation of the ETFs has already influenced market dynamics, with related cryptocurrencies like VeChain and Neo experiencing price rallies.
The approval could unlock up to $25 billion in demand from Chinese investors through the Southbound Stock Connect program.