Spot Bitcoin ETFs in Hong Kong could mark a regional first with April listings

The Hong Kong Securities and Futures Commission (SFC) could approve the first batch of spot Bitcoin Exchange-Traded Funds (ETFs) as soon as April 15.

New reports suggest that the SFC is actively considering the launch of the first batch of spot BTC ETFs as it updated its list of virtual asset management funds earlier today.

How To Get Free Crypto  

The commission plans to approve four spot Bitcoin ETFs for the first stage. This includes funds from China Asset Management, Bosera Funds, Value Partners Financial, and Harvest International.

Meanwhile, as of press time, only China Asset Management and Harvest International are included in the commission’s list. As such, the approval status of Bosera Funds and Value Partners remains uncertain.

Following the eventual approval by April 15, the Hong Kong Stock Exchange market listing is expected to take two weeks. However, the previous planning and communication between the issuers and the stock exchange will reduce the timeline to 10 days. Hence, the products are expected to be listed on the stock exchange from April 25 forward.

Notably, the likely approval comes about three months after the commission began receiving applications. The ETFs, when launched, are expected to bring new investments to Hong Kong and the region as a whole. The approval will also make Hong Kong the first country to allow spot Bitcoin ETF trading in its region.

Coinbase Banner  

Additionally, the incoming approval comes in the wake of the recent success of the spot Bitcoin ETFs in the United States. According to BitMEX Research, the US ETFs have seen about $12bn worth of net inflow from approximately $58bn in total assets. The current figure represents a massive surge from their launch on Jan. 11.

Since the launch of the ETFs in the US, Bitcoin has surged from about $46,000 to as high as $73,000 before returning to just below $69,000 as of press time.

Go to Source
Author: Oluwapelumi Adejumo

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

You May Also Like

More From Author

This site uses Akismet to reduce spam. Learn how your comment data is processed.