Hong Kong’s financial regulatory bodies, the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA), have announced that they are open to receiving applications for spot crypto exchange-traded funds (ETFs). This comes after a review of their current policy on ETFs, acknowledging the evolving virtual asset environment since 2018.
The SFC and HKMA have updated their policy to reflect the latest market developments, including the authorization of virtual asset futures ETFs and the readiness to accept applications for other funds with exposure to virtual assets, such as virtual asset spot ETFs. The criteria for funds to directly invest in identical spot virtual asset tokens available to the Hong Kong public on SFC-licensed Virtual Asset Trading Platforms (VATPs) have also been specified.
Furthermore, HSBC Hong Kong has expanded its support for Bitcoin and Ethereum futures ETFs, while UBS Group has announced that select clients in Hong Kong will be able to trade crypto-linked ETFs. This follows the anticipation surrounding the approval of the first spot Bitcoin ETF in the US by the Securities and Exchange Commission (SEC). Contenders such as BlackRock, Fidelity, and Grayscale have submitted applications and made amendments to address the SEC’s concerns.
It is important to note that this article is for informational purposes only and should not be considered as legal, tax, investment, financial, or other advice.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Asia |
| Countries | ðŸ‡ðŸ‡° |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | None |
| Companies | HSBC Hong Kong, UBS Group |
| Currencies | Ethereum, Bitcoin |
| Securities | None |
