Shift

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<p>The post <a href="https://coinpedia.org/news/shifting-interest-from-the-us-to-hongkong-as-leaders-urged-to-file-xrp-spot-etf/" rel="noopener noreferrer nofollow">Shifting Interest from the US to HongKong as Leaders Urged To File XRP Spot ETF</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>The XRP community is abuzz with anticipation as the possibility of an XRP spot exchange-traded fund (ETF) takes center stage in the vibrant Asian market. Notably</p>
<p>Yassin Mobarak, the founder of Dizer Capital, is inviting crypto industry leaders to consider launching an XRP ETF in Hong Kong, especially with recent regulatory changes.&nbsp;</p>
<h2 class="wp-block-heading" id="h-regulatory-shift-in-hong-kong">Regulatory Shift in Hong Kong</h2>
<p>Hong Kong’s regulatory landscape is undergoing a transformation. As per the recent <a href="https://apps.sfc.hk/edistributionWeb/gateway/EN/circular/doc?refNo=23EC67" rel="noopener noreferrer nofollow">joint circular</a>, the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) revealed a recalibration of their approach to intermediaries involved in crypto-related activities.&nbsp;</p>
<p>Meanwhile, the revised stance opens the door to crypto spot ETFs, reflecting the SFC’s green light for crypto futures ETFs. This means they are open to more funds that involve cryptocurrencies, including “virtual asset spot exchange-traded funds (VA spot ETFs).”</p>
<h2 class="wp-block-heading" id="h-call-to-action-for-xrp-spot-etf">Call to Action for XRP Spot ETF</h2>
<p>Yassin Mobarak’s call for action has resonated within the XRP community, with the founder of Dizer Capital encouraging other industry participants to seize the opportunity and submit applications for an XRP ETF in Hong Kong.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr">Someone should file an <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$XRP</a> spot ETF application in Hong Kong. <a href="https://t.co/tswtJ4xpH8" rel="noopener noreferrer nofollow">https://t.co/tswtJ4xpH8</a></p>— Yassin Mobarak <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1fa9d.png" alt="🪝" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@Dizer_YM) <a href="https://twitter.com/Dizer_YM/status/1738228041829216436?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 22, 2023</a>
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<p>However, the sentiment has garnered support from local XRP enthusiasts, emphasizing the potential impact of such a move.</p>
<p>Along with Yassin Mobarak, another crypto enthusiast Luo Boren, heading securities product development at the Hong Kong Stock Exchange, is ready to ride the wave of regulatory change.&nbsp;</p>
<p>He <a href="https://cn.investing.com/news/stock-market-news/article-2277443" rel="noopener noreferrer nofollow">underscores</a> the exchange’s commitment to collaboration, pledging to work closely with issuers and stakeholders to introduce crypto spot ETFs into the Hong Kong ETF market.</p>
<h2 class="wp-block-heading" id="h-xrp-etf-situation-in-the-us">XRP ETF Situation in the US</h2>
<p>While the United States has clear rules for XRP, the idea of having an XRP spot ETF there is still uncertain. People in the industry are questioning why big companies, like BlackRock, are not taking steps to create an XRP ETF despite the clarity in regulations.</p>

Shifting Interest from the US to HongKong as Leaders Urged To File XRP Spot ETF

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