Ethereum

Bitcoin ETF

Spot

The post <a href="https://coinpedia.org/news/hong-kongs-vsfg-eyes-q2-2024-for-spot-ethereum-etf-launch/">Hong Kong’s VSFG Eyes Q2 2024 for Spot Ethereum ETF Launch</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The spot Bitcoin ETF approval created a buzz in the crypto space and has put crypto on the path to mass adoption and Bitcoin as an asset class that can coexist with traditional assets. After US spot Bitcoin ETF approval, spot Ethereum ETF approval is anticipated. Hong Kong, a crypto powerhouse, will launch ETH ETFs in Q2. Here are the specifics and buzz. 
After the acceptance and popularity of spot Bitcoin ETFs, Hong Kong-based Venture Smart Financial Holdings Ltd. (VSFG) is considering a spot Ethereum ETF application. The company is finalizing its spot Bitcoin ETF application to the Hong Kong Securities and Futures Commission and expects clearance and listing in Q2. That is also when the US SEC may approve its first ETH ETF.&nbsp; 
<h2 class="wp-block-heading" id="h-vsfg-chairman-outlines-q2-submission-plans-for-spot-ethereum-etf">VSFG Chairman Outlines Q2 Submission Plans for Spot Ethereum ETF</h2> 
VSFG Chairman Lawrence Chu, in a recent <a href="https://www.theblock.co/post/275718/hong-kong-finance-firm-vsfg-targets-to-apply-for-spot-ethereum-etf-in-q2?utm_source=twitter&amp;utm_medium=social">interview </a>with The Block, said that the firm is eyeing a Q2 submission for a spot Ethereum ETF, based upon the successful approval and launch of its spot Bitcoin ETF. Chu also stressed that there will be a long process of regulatory discussions and preparations before the official submission, and the company is well-prepared. 
He also talked about the complicated part that VSFG plays in how ETFs are changing in Hong Kong. He said that the company is not only competing with other ETF issuers but also wants to help them deal with legal issues and fill in the knowledge gaps in the digital asset space. 
<h2 class="wp-block-heading" id="h-roadblocks">Roadblocks?</h2> 
While noting the challenges, Chu said that in the U.S., many ETF issuers have specialized teams that work with digital assets. In Hong Kong, many ETF issuers do not have these kinds of teams. VSFG sees itself as a service provider that helps ETF makers get into the cryptocurrency ETF market. This way, they can work together instead of competing directly. 
The move comes as big participants, including BlackRock, Inc. (BLK) and Grayscale, file spot Ether ETF applications with the SEC in the US, making room for others to join the league. Like spot Bitcoin ETFs, spot Ethereum ETFs are anticipated to have less selling pressure.&nbsp; 
Since the crypto ETF ecosystem is evolving, VSFG aims for the growth and easy accessibility of crypto-based investment products in Hong Kong. The Q2 application for a spot Ethereum ETF follows the trend of traditional finance firms embracing digital assets in the global investing landscape.

Hong Kong’s VSFG Eyes Q2 2024 for Spot Ethereum ETF Launch

Table of Contents

CoinPedia News

Other articles published on Feb 2, 2024

Bonk DAO Allocates $500,000 for Solana-Based Startups in Landmark Investment

Ripple devs propose updates following recent XRPL AMM approval

Valkyrie Partners With BitGo To Become The First Spot Bitcoin ETF To Diversify BTC Custody

OPNX Exchange Founded by 3AC Co-Founders, is Shutting Down

Apple CEO reveals plans to launch generative AI features in 2024

Ethereum Prepares for Dencun Upgrade to Boost Network Performance

Join our free newsletter for daily crypto updates!