First-Place Bitcoin ETFs Are Approved In Hong Kong: Law Decoded

Hong Kong

According to reports, Harvest Global Investments, China Asset Management, and a collaboration between HashKey and Bosera Asset Management are the companies behind the new ETFs. According to reports, three spot Bitcoin exchange-traded funds (ETFs) have received approval from the Hong Kong Securities and Futures Commission (SFC). ETFs from China Asset Management, Harvest Global Investments, and a joint venture between HashKey and Bosera Asset Management are on the list.

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The Stock Exchange of Hong Kong will need around two weeks to complete listing processes and associated arrangements after receiving the initial permission. According to Herbert Sim, chief operating officer of cryptocurrency exchange Websea, the licensing of the first spot Bitcoin BTC tickers down $62,695 ETFs in Hong Kong may spark a post-halving surge in Bitcoin, as he told Cointelegraph: There are other things to watch out for in the price action besides the [halving]. but rather Hong Kong’s impending approval of a Bitcoin ETF. All of China’s major banks will need to begin purchasing Bitcoin for themselves. According to the CEO of investing company VanEck, it is doubtful that the spot Ether ETH tickers down $3,046 ETFs will be approved by the US Securities and Exchange Commission (SEC) in May. Jan van Eck stated in a recent interview that his company’s application for a spot in Ether ETF will “probably be rejected.” He mentioned that VanEck and Cathie Wood’s ARK Invest were the first to apply for a spot Ether ETF in the United States; both are expecting final judgments by May 23 and May 24, respectively. In a testimony before the Senate Banking Committee, U.S. Deputy Treasury Secretary Adewale Adeyemo persisted in calling for increased enforcement authority for his organization.