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<div class="intro-text">
 At least three asset managers are set to introduce the crypto spot ETFs to Hong Kong financial markets in the coming weeks and months following the approval of their applications by the city’s securities regulator, according to <a style="color: #0000ff;" href="https://www.reuters.com/markets/currencies/hong-kong-gives-initial-approval-first-bitcoin-ether-spot-etfs-say-funds-2024-04-15/" rel="noopener noreferrer nofollow">Reuters</a>.&nbsp;
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Bosera Capital, China’s Asset Management (China AMC), and Harvest Global Investments are reportedly the asset managers whose applications for crypto spot ETFs have been approved by Hong Kong’s Securities and Futures Commission (SFC).
Notably, China AMC released a <a style="color: #0000ff;" href="https://mp.weixin.qq.com/s/L41jvBB5hthR4mXRoL1G2Q" rel="noopener noreferrer nofollow">brief statement</a> on April 15, 2024, stating that it had obtained permission to offer crypto asset management services in Hong Kong and that it plans to issue its crypto ETFs (both spot Bitcoin and spot Ethereum) in partnership with OSL and BOCI International.&nbsp;
Harvest Global Investments, which filed two applications for spot crypto ETFs, has also <a style="color: #0000ff;" href="https://mp.weixin.qq.com/s/RXXt9vxETtk8NZrdffa1iQ" rel="noopener noreferrer nofollow">announced</a> that it had acquired in-principle approvals for its applications. The investment firm stated that it would partner with OSL to issue these two spot crypto ETFs.&nbsp;
According to <a style="color: #0000ff;" href="https://www.reuters.com/markets/currencies/hong-kong-gives-initial-approval-first-bitcoin-ether-spot-etfs-say-funds-2024-04-15/" rel="noopener noreferrer nofollow">Reuters</a>, Bosera is partnering with HashKey Capital to launch its ETFs.
This development positions Hong Kong as Asia’s first to embrace cryptocurrencies as a mainstream investment tool, aligning with its ambition to <a href="https://defi-planet.com/2023/10/hong-kong-retains-position-as-top-cryptocurrency-hub-despite-regulatory-challenges/" rel="noopener noreferrer nofollow">become a global hub for digital assets.</a> It also follows <a style="color: #0000ff;" href="https://defi-planet.com/2024/03/stakeholders-in-hong-kong-crypto-industry-calls-for-expedited-launch-of-spot-etfs-amid-global-demand-surge/" rel="noopener noreferrer nofollow">calls from the stakeholders in the region for an expedited process</a> for the approval of the funds.&nbsp;
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ALSO READ: <a style="color: #0000ff;" href="https://defi-planet.com/2023/06/hong-kongs-financial-secretary-reaffirms-commitment-to-digital-innovation-and-blockchain-technology/" rel="noopener noreferrer nofollow">Hong Kong’s Financial Secretary Reaffirms Commitment to Digital Innovation and Blockchain Technology</a>
However, the SFC has not yet confirmed this development, and some social media posts and announcements regarding it have been taken down.&nbsp;
Meanwhile, OSL has also <a style="color: #0000ff;" href="https://osl.com/press-release/osl-appointed-first-exchange-sub-custodian-china-amc-spot-btc-eth-etf-hong-kong/" rel="noopener noreferrer nofollow">issued</a> a press release declaring itself the “first digital asset trading and sub-custodian partner” of the China AMC for its new spot Bitcoin and Ethereum ETFs. The asset management firm noted that its infrastructure will enable a safe trading environment crucial for the ETF’s operations but didn’t state whether the regulator approved the products.
Notably, none of the three firms revealed a timeline for introducing the ETFs to the public for trading.&nbsp;
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The post <a href="https://defi-planet.com/2024/04/hong-kong-set-to-welcome-crypto-spot-etfs-as-three-issuers-secure-regulatory-approvals/" rel="noopener noreferrer nofollow">Hong Kong Set to Welcome Crypto Spot ETFs as Three Issuers Secure Regulatory Approvals</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

Hong Kong Set to Welcome Crypto Spot ETFs as Three Issuers Secure Regulatory Approvals

DeFi Planet

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