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Hong Kong is reportedly nearing a significant milestone on the cryptocurrency market, with indications suggesting the imminent approval of spot exchange-traded funds directly investing in Bitcoin (BTC) and&nbsp;<a href="https://u.today/ethereum-etf-idea-trashed-by-max-keiser-as-sec-keeps-silence" rel="noopener noreferrer nofollow">Ethereum (ETH)</a>. Bloomberg's&nbsp;<a href="https://www.bloomberg.com/news/articles/2024-04-12/hong-kong-bitcoin-ether-etf-approval-expected-as-soon-as-monday" rel="noopener noreferrer nofollow">sources</a> have suggested that regulatory approval could be granted as soon as Monday.
Among the anticipated issuers are the international arm of Chinese asset manager Harvest Fund Management and a partnership between Bosera Asset Management and HashKey Capital. These entities intend to launch spot Bitcoin and Ethereum ETFs pending approval from the SFC and finalizing listing details with Hong Kong Exchange.
The potential approval of crypto-oriented ETFs in Hong Kong mirrors recent developments in the United States, where the introduction of spot&nbsp;<a href="https://u.today/peter-schiff-takes-jab-at-bitcoins-lack-of-utility" rel="noopener noreferrer nofollow">Bitcoin</a> solutions earlier this year has garnered significant attention and market activity.
<h2 dir="ltr" id="when-ethereum-etf-in-us">When Ethereum ETF in US?</h2>
Interestingly however, while&nbsp;<a href="https://u.today/rich-dad-poor-dad-author-i-will-never-buy-bitcoin-etfs" rel="noopener noreferrer nofollow">Bitcoin ETFs</a> have been approved in the US, solutions for&nbsp;<a href="https://u.today/ethereum-update-here-are-3-crucial-new-features" rel="noopener noreferrer nofollow">Ethereum</a> are still very much a question there. In Hong Kong, however, neither of these instruments is available yet, but if rumors become facts, both solutions will be presented on this market at once.
The situation with Ethereum ETFs in America is in an unclear state. It is known that the deadline for the SEC to make a decision on the applications is set for May 23. However, not only does the regulator not comment on the whole situation, but it also initiates investigations against the Ethereum Foundation - a key nonprofit organization associated with the altcoin.
In the absence of specifics, the discussion field is full of the opinions and assessments of various experts from the banking sector. If we gather some consensus from them, the picture for Ethereum ETFs on the U.S. market does not look favorable so far.

Ethereum ETF Nearing Approval on Monday in Hong Kong

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