Bermuda

Bitcoin ETF

Bitcoin

Hong Kong’s Securities and Futures Commission is reportedly ready to approve the spot Bitcoin exchange-traded fund, signaling a major breakthrough in the city’s crypto market.
Hong Kong is gearing up to approve the first batch of spot Bitcoin ETFs in the region by Apr. 15, Tencent News <a href="https://new.qq.com/rain/a/20240410A00WH800" target="_blank" rel="noopener noreferrer nofollow">has learned</a>, citing multiple sources close to the Hong Kong Securities and Futures Commission. The report says the Hong Kong regulator initially planned to approve only four spot Bitcoin ETFs in the first batch.
However, the latest changes revealed that at least two applications didn’t meet the requirements for crypto asset management in Hong Kong. The timing and recipients of permission to offer the first spot Bitcoin ETFs in the region remain uncertain.
Currently, several Hong Kong-based companies and proxies from mainland China have signaled their interest in launching spot crypto exchange-traded funds. China Southern Fund as well as Harvest Fund, Jiashi Fund, Huaxia Fund, and Southern Fund have submitted applications via their Hong Kong arms and are awaiting regulatory approval.
You might also like: <a href="https://crypto.news/hong-kongs-crypto-exchange-hashkey-goes-global-with-bermuda-license/" rel="noopener noreferrer nofollow"> Hong Kong’s crypto exchange HashKey goes global with Bermuda license </a>
Once the Securities and Futures Commission of Hong Kong approves the first batch of spot Bitcoin ETFs, the Hong Kong Stock Exchange will need about two weeks to prepare for product listing and other matters.
The potential approval of spot Bitcoin ETFs in Hong Kong could follow three months after the U.S. Securities and Exchange Commission’s <a href="https://crypto.news/sec-approves-spot-bitcoin-etf-on-accelerated-basis/" target="_blank" rel="noopener noreferrer nofollow">approval</a> of the first batch of spot Bitcoin ETFs in the U.S. So far, the top 10 spot Bitcoin ETFs allocated around $57 billion under the management, with the top three accounting for over 88%.
Read more: <a href="https://crypto.news/hong-kongs-largest-futures-bitcoin-etf-surges-500-in-aum/" rel="noopener noreferrer nofollow"> Hong Kong’s largest futures Bitcoin ETF surges 500% in AUM </a>

Hong Kong is reportedly set to approve first spot Bitcoin ETF by mid-April

crypto.news

2024년 4월 10일에 게재된 다른 기사

Bitcoin (BTC) Price Plunging After Crucial CPI Data

Tensor Price Prediction: TNSR Plummets 21% In A Week As Analysts Say This New Solana Meme Coin Mi...

Polkadot Falls More Than 4% In 24 hours

Toncoin (TON) Hits New All-Time High, Knocking Cardano (ADA) Out of Top 10

Dogecoin and Shiba Inu Prices Fall but Traders Are Backing This New Dog Meme Coin To Explode

Top 10 NFT-Related Cryptocurrencies by Development Activity

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!