Breaking News: Bitcoin and Ethereum ETFs Could Be Approved by Hong Kong Monday

Crypto News – By approving Bitcoin and Ethereum ETFs, Hong Kong can make a major push toward the city’s goal of becoming a global hub for cryptocurrency.

Breaking News: Bitcoin and Ethereum ETFs Could Be Approved by Hong Kong Monday

Bloomberg reports that the Securities and Futures Commission (SFC) may approve as early as Monday, citing people with direct knowledge of the situation. This choice, though, could alter at the last minute.

Prominent asset management companies are expected to be the recipients of these permits. It is anticipated that permits to introduce these spot-crypto ETFs will be obtained by a joint venture between Bosera Asset Management (International) and HashKey Capital, as well as by an international division of Harvest Fund Management.

By month’s end, both intend to launch the ETFs, subject to regulatory permission and concluding talks with Hong Kong Exchanges & Clearing Ltd. These developments underscore Hong Kong’s aggressive approach to including cryptocurrencies into its financial infrastructure, after recent regulatory approvals. The SFC gave Harvest and China Asset Management permission to handle funds pertaining to virtual assets earlier in April.