Hong Kong could approve the first batch of Bitcoin (BTC) and Ethereum (ETH) spot ETFs as early as April 15th, according to a Bloomberg report citing unnamed sources. If approved, trading could commence by the end of April, pending final negotiations with the Hong Kong Stock Exchange (HKEX).
Key Details:
Potential First Approvals: Initial approvals may include applications from:
- Harvest Global Investments (first reported applicant for Bitcoin spot ETFs).
- A joint offering by Bosera Asset Management (International) and HashKey Capital.
- Unconfirmed Timeline: Approval schedules remain fluid and may change at the last minute.
Market Implications:
- A landmark move for Hong Kong to solidify its position as a leading digital asset hub in Asia.
- Follows the U.S. SEC’s January approval of Bitcoin spot ETFs, which fueled BTC’s rally to $73,000 (¥10.95 million). Notably, the U.S. has yet to greenlight Ethereum ETFs.
👉 Explore the latest ETF developments in crypto
Regulatory Context:
- The Securities and Futures Commission (SFC) declined to comment.
- Harvest, Bosera, HashKey, and HKEX have not responded to inquiries as of press time.
FAQs
1. What are spot Bitcoin and Ethereum ETFs?
Spot ETFs track the real-time price of the underlying asset (BTC or ETH) by holding the actual cryptocurrency, unlike futures-based ETFs.
2. Why is Hong Kong’s ETF approval significant?
It signals regulatory openness, potentially attracting institutional investors and boosting liquidity in Asian markets.
3. How might this impact crypto prices?
Approval could mirror the U.S. ETF effect, driving demand—though market reactions depend on rollout speed and investor uptake.
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