Bloomberg: Hong Kong will approve Bitcoin and Ethereum spot ETFs as early as April 15th

This site (120btC.coM): Since the U.S. SEC approved the Bitcoin spot ETF in January this year, the continued inflow of ETF funds has also pushed Bitcoin to a record high.

As a financial hub in Asia, Hong Kong, which actively embraces Web3, the authorities also stated in December last year that they were ready to accept authorization applications for virtual asset spot ETFs and other related funds.

Bloomberg: Hong Kong may pass Bitcoin and Ethereum spot ETFs as soon as next Monday (15) Two exchange-traded funds, the Bitcoin Spot ETF and the Ethereum Spot ETF, were approved at once.

Informed sources also pointed out that in anticipation of a possible listing, Harvest Fund, a large Chinese asset management company that has been rumored to have submitted an application, is very likely to be the first company to receive such approval, and If the Hong Kong authorities relent on Monday, Hong Kong's first Bitcoin spot ETF will be officially launched as soon as the end of this month.

However, it is still worth noting that the Hong Kong Securities Regulatory Commission has not yet announced a specific timetable. Whether it will be passed on Monday cannot be concluded prematurely.

Bloomberg Analyst: ETF approval is expected to stimulate the scale of asset management

Bloomberg ETF analyst Eric Balchunas previously quoted a report from Bloomberg Intelligence as saying that unlike the United States, which only allows cash creation and Redemption, the Hong Kong Securities Regulatory Commission may allow issuers to issue Bitcoin spot ETFs through physical creation and redemption models, which will help stimulate issuers’ asset management scale.

There are already three crypto futures ETFs in Hong Kong

Currently, the Hong Kong authorities have only approved three crypto futures ETFs, which are:

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