CDS Crypto News Spot Bitcoin and Ethereum ETFs in Hong Kong Now Available for Trading
Crypto News

Spot Bitcoin and Ethereum ETFs in Hong Kong Now Available for Trading

In late 2022, Hong Kong had listed three crypto ETFs based on futures contracts.

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Spot Bitcoin and Ethereum ETFs in Hong Kong Now Available for Trading

Crypto News– Today marks the beginning of a new chapter in Hong Kong’s financial landscape with the launch of spot crypto exchange-traded funds (ETFs). Six spot bitcoin and ether ETFs have officially debuted on the Hong Kong Stock Exchange, underscoring the region’s ongoing efforts to establish itself as a prominent crypto hub.

Spot Bitcoin and Ethereum ETFs in Hong Kong Now Available for Trading

The ETFs, namely: Bosera HashKey Bitcoin ETF (3008.HK), Bosera HashKey Ether ETF (3009.HK), ChinaAMC Bitcoin ETF (3042.HK), ChinaAMC Ether ETF (3046.HK), Harvest Bitcoin Spot ETF (3439.HK), and Harvest Ether Spot ETF (3179.HK), are now listed on the Hong Kong Exchanges and Clearing Ltd. (HKEX), and are open for trading. These ETFs are accessible to investors within Hong Kong and certain qualified investors outside the city, with the exception of those residing in mainland China, who are still subject to restrictions on investing in such products.

Earlier reports from Coinspeaker indicated that Hong Kong had granted approval for ETF applications submitted by several asset management firms.

Hong Kong’s Spot Crypto ETFs Differ Significantly from Their US Counterparts

The emergence of these new institutional investment products is poised to significantly influence the investment landscape not only in Asia but also on a global scale. Notably, Hong Kong has introduced the world’s inaugural spot Ether ETFs, sparking considerable interest and raising pertinent questions about the product’s implications, particularly in light of the undecided classification of ETH as a security by the US SEC.

Despite the mounting concerns, it seems that ETF issuers in Hong Kong are unfazed by the United States’ stance on the matter. During a recent press conference, Wayne Huang, the head of custody firm OSL Digital Securities, emphasized that Hong Kong operates under its own regulatory framework and is not bound by the decisions of the US. Huang’s statement underscores the autonomy of the Hong Kong Securities Regulatory Commission in making independent determinations regarding crypto assets, irrespective of the US classification of Ethereum.

Whether the United States defines Ethereum as a security does not affect the independent decision-making of the Hong Kong Securities Regulatory Commission.

OSL Digital Securities Wayne Huang
Spot Bitcoin and Ethereum ETFs in Hong Kong Now Available for Trading

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