Ethereum

Tate

Bitcoin

<div class="finbold">
 <p class="paragraph">The approval of spot exchange-traded funds (ETFs) approval for Bitcoin (BTC) has long been considered a crucial step for its acceptance as a legitimate asset class.&nbsp;</p>
 <p class="paragraph">After the U.S. Securities and Exchange Commission (SEC) finally gave the <a rel="noopener noreferrer nofollow" title="green" href="https://thebittimes.com/tag/green.html">green</a> <a rel="noopener noreferrer nofollow" title="light" href="https://thebittimes.com/tag/light.html">light</a> to the first such ETFs in January, the price of Bitcoin surged in anticipation. This excitement resulted in a brief rise above $49,000 – the highest level since December 2021 – as trading for these groundbreaking products began in the U.S.&nbsp;</p>
 <p class="paragraph">However, it’s important to note that these U.S. ETFs restrict themselves to BTC, leaving Ethereum (ETH), the world’s second-largest cryptocurrency, on the sidelines.</p>
 <div class="border border-red-300 rounded-xl p-6 not-prose mb-6">
  <h3 class="text-2xl font-black mt-0 flex gap-x-3 mb-5">
   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
    </path>
   </svg> Picks for you</h3>
  <div class="grid md:grid-cols-2 gap-x-10 gap-y-3 md:gap-y-5 divide-y divide-gray-300 md:divide-y-0">
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Andrew Tate says this crypto blockchain ‘will be huge’ <span class="self-center text-xs text-slate-500">23 mins ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Short squeeze alert: 2 cryptocurrencies with skyrocketing potential this week <span class="self-center text-xs text-slate-500">15 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Bitcoin aims lower after losing strong support; Key levels to watch <span class="self-center text-xs text-slate-500">17 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    UFC 300 victorious fighter wants the $300,000 bonus in Bitcoin <span class="self-center text-xs text-slate-500">19 hours ago</span>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <p class="paragraph">Now, the Hong Kong Securities and Futures Commission (SFC) has taken the next step by approving the world’s first spot Bitcoin and Ethereum, according to the <em>NikkeiAsia </em>report on April 15.</p>
 <p class="paragraph">This action represents another noteworthy advancement in the institutional recognition of cryptocurrencies, and it could potentially give Hong Kong a considerable advantage over the U.S.&nbsp;</p>
 <p class="paragraph">With Ethereum still lacking a spot ETF in the U.S., Hong Kong’s embrace of both major cryptocurrencies could attract a wider range of investors, particularly those in Asia where Ethereum enjoys strong interest.</p>
 <h2 class="wp-block-heading" id="h-market-challenges-and-strategic-vision">Market challenges and strategic vision</h2>
 <p class="paragraph">Through partnerships with key players like OSL Digital Securities and BOCI International, they aim to address long standing issues that have troubled the cryptocurrency market.&nbsp;</p>
 <p class="paragraph">These hurdles include excessive margin requirements, which can notably increase the cost of entry for investors, and price premiums that can arise due to inefficiencies in traditional crypto exchanges.&nbsp;</p>
 <p class="paragraph">By providing a regulated platform for investors to access cryptocurrencies, Hong Kong seeks to achieve a two-pronged approach.&nbsp;</p>
 <p class="paragraph">Firstly, it aims to solidify its position as a leading international financial center by demonstrating its commitment to innovation and responsible integration of digital assets into the mainstream financial landscape.&nbsp;</p>
 <p class="paragraph">Secondly, it seeks to foster a more robust and innovative financial ecosystem within the region by introducing a secure and transparent avenue for cryptocurrency investment.&nbsp;</p>
 <p class="paragraph">This, in turn, could attract a wider range of investors, both retail and institutional, further boosting the cryptocurrency market.</p>
 <h2 class="wp-block-heading" id="h-hong-kong-s-etf-approval-signals-global-crypto-innovation-potential">Hong Kong’s ETF approval signals global crypto innovation potential</h2>
 <p class="paragraph">In conclusion, with this approval, Hong Kong has the potential to emerge as a global leader in digital asset innovation.&nbsp;</p>
 <p class="paragraph">Expected to launch by the end of April, these ETFs have the potential to trigger a wider cryptocurrency adoption, not just regionally but potentially on a global scale.&nbsp;</p>
 <p class="paragraph">This surge in interest, coupled with investor interest as the ETFs prepare for market launch, could be a big boost for the price of Bitcoin and other cryptocurrencies.</p>
 <p class="paragraph"></p>
 <p class="paragraph"></p>
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/hong-kong-greenlights-bitcoin-and-ethereum-spot-etfs-tbt85371.html">https://thebittimes.com/hong-kong-greenlights-bitcoin-and-ethereum-spot-etfs-tbt85371.html</a></p>

Hong Kong greenlights Bitcoin and Ethereum spot ETFs

Table of Contents

TheBitTimes

Další články publikované 15. 4. 2024

DOJ considering new law firm as monitor for Binance amid FTX ties

Bitcoin Price: Calm After the Storm or More Choppy Waters?

The Expected Happened! Hong Kong Approves Spot Bitcoin and Ethereum ETFs! Here are the Details

Railgun (RAIL) Price Shoots 240% As Vitalik Buterin Confirms Support

Adidas and STEPN Unveil Exclusive NFT Collection to Transform Move-to-Earn Ecosystem

5 Top Altcoins Outperforming Bitcoin This Year

Join our free newsletter for daily crypto updates!