Ethereum

Bitcoin ETF

Bitcoin

<h2 id="key-points">Key Points</h2>
<ul>
 <li>HashKey, a Hong Kong-based crypto exchange, has prepared infrastructure for possible spot Bitcoin ETFs.</li>
 <li>There’s anticipation that Hong Kong regulators may approve Bitcoin ETFs as early as next week.</li>
</ul>
<p>Hong Kong licensed crypto exchange, HashKey, has completed the development of product features and relevant infrastructure services for potential spot <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> exchange-traded funds (ETFs).</p>
<p>This comes as reports suggest that Hong Kong could approve such an ETF in the coming week.</p>
<h2 id="preparation-for-bitcoin-etfs">Preparation for Bitcoin ETFs</h2>
<p>Livio Weng, HashKey Exchange’s CEO, stated that the fund issuers, in cooperation with HashKey, have finalized the development of their spot Bitcoin ETFs.</p>
<p>HashKey plans to provide infrastructure support for the ETFs and is currently in the “integration and functional testing” phase.</p>
<p>“As an ETF applicant in Hong Kong, HashKey provides underlying infrastructure support, encompassing trading, custody, and SSA facets,” Weng explained.</p>
<p>He also noted that HashKey’s custody business has been operating stably for over a year, with assets under custody exceeding HK$2.2 billion ($280.7 million).</p>
<p>HashKey hasn’t revealed the asset managers it’s collaborating with.</p>
<h2 id="anticipated-approval">Anticipated Approval</h2>
<p>According to insiders, Hong Kong regulators might approve the first batch of spot Bitcoin ETFs as soon as next week.</p>
<p>The approval process has reportedly been expedited.</p>
<p>At least four asset managers, including those from mainland China and Hong Kong, have submitted their applications to launch such ETFs.</p>
<p>Unlike mainland China’s broader crackdown on cryptocurrency trading and mining, Hong Kong welcomed crypto firms last year.</p>
<p>In June 2023, Hong Kong officially started its crypto licensing regime for crypto trading platforms, granting licenses to HashKey and OSL.</p>
<p>Weng also hinted at the possibility of launching spot <a href="https://crypto.ro/en/cryptocurrencies/ethereum/" rel="noopener noreferrer nofollow">Ethereum</a> ETFs in the near future, particularly if the issue of on-chain staking can be resolved.</p>
<p>He suggested that this could attract more large institutional investors to choose this type of ‘yield-bearing asset,’ which might be more appealing than spot Bitcoin ETFs.</p>

HashKey Preps for Expected Bitcoin ETF Approval with Completed Infrastructure

Inhaltsverzeichnis

crypto.ro global

Weitere Artikel, die am 12. Apr. 2024 veröffentlicht wurden

Community Buzzing: BlastUP (BLP) Is Ready for Gains With Its Launch in June, Echoing Success Stor...

A Look at Today’s Crypto Scene: Ethereum (ETH), Solana (SOL), and Furrever Token Analysis

Tech Whitepaper Launch: BlockDAG’s 30,000x ROI Potential Overshadows Shiba Inu’s Supply Instabili...

Ripple’s XRP Climbs as Legal Developments and Tech Updates Emerge

Ethena Crypto (ENA) Nears ATH: Is There Room To Grow Beyond?

JP Morgan Kicks Off Earnings Season, Intel And AMD China Problem, Potential Iranian Attack

Abonniere unseren kostenlosen Newsletter und erhalte tägliche Krypto-Updates!