Furthering its ambition to become a cryptocurrency hub, Hong Kong approved applications for its first spot Bitcoin and Ether exchange-traded funds (ETFs).
China Asset Management, a major Chinese asset manager, said its Hong Kong unit received in principle approval to offer retail asset management services for spot crypto ETFs. The firm plans to launch Bitcoin and Ether ETFs in collaboration with OSL, a virtual asset trading platform, and BOCI International.
Harvest Global Investments also secured in principle approval for two spot crypto ETFs, which the firm says will address challenges like high margin requirements through its partnership with OSL.
Bosera Asset Management, the Hong Kong unit of another major Chinese asset manager, and HashKey Capital jointly received conditional approval for two spot crypto ETFs, and areplanning to launch a spot Bitcoin ETF, the Bosera HashKey Bitcoin ETF, and a spot Ether ETF, the Bosera Hashkey Ether ETF.
These developments come after Hong Kong officially launched its licensing regime for crypto trading platforms in June 2023, allowing licensed exchanges to offer retail trading services. So far, only HashKey and OSL have been granted licenses.
The approvals, granted by the Securities and Futures Commission (SFC), come after Hong Kong officially launched its licensing regime for cryptocurrency trading platform In June 2023, which started allowing licensed cryptocurrency exchanges to offer retail trading services.
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- Source: https://www.cryptocompare.com/email-updates/daily/2024/apr/15/
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