In a monumental decision, the Hong Kong Securities and Futures Commission (SFC) has given the green light for two Spot Bitcoin & Ethereum ETF pairs. Boshi Funds and HashKey Capital Limited, key players in both traditional finance and the virtual asset industries, have joined forces to spearhead this historic endeavor. In addition, ChinaAMC has also joined the fray with approval for its Bitcoin & Ethereum ETFs.

Hashkey & Boshi’s Spot Bitcoin & Ethereum ETFs Get Greenlight

According to Boshi International, they are “very pleased to join forces with HashKey to jointly open up a new chapter in Hong Kong’s virtual asset market.” They see the approval of these ETFs as not only expanding investors’ asset allocation options but also solidifying Hong Kong’s stature as “an international financial center and virtual asset hub.”

HashKey Capital echoed this sentiment. They stated that the approval of virtual asset spot ETFs “has built a bridge for traditional institutions to allocate virtual assets.” Thus, broadening access for mainstream and retail investors alike. In addition, the latest approval marks a major milestone as Hong Kong solidified its position by approving the first-ever Ethereum ETF.

Furthermore, both companies emphasize the significance of the currency-holding subscription mechanism, with Boshi International stating that it “allows investors to directly use Bitcoin and Ethereum to subscribe for corresponding ETF shares.” It’ll enhance convenience and accessibility for investors.

Also Read: Spot Ethereum ETF: Grayscale Files Form S-3 Amid SEC’s Delayed Decision

About ChinaAMC ETFs

In parallel, ChinaAMC also acquired the greenlight for the launch of ChinaAMC Bitcoin ETF and ChinaAMC Ethereum ETF. These ETFs are scheduled to be listed on April 30, 2024. Zhu Haokang, Head of digital asset management ChinaAMC underscored the importance of these ETFs in providing investors with a safe, efficient, and convenient tool for digital asset allocation.

Haokang emphasized, “The issuance of Asia Spot Bitcoin and Ethereum ETFs provides retail and institutional investors with a safe, efficient and convenient excellent tool to allocate digital assets.” Moreover, these ETFs are seen as a regulated and accessible alternative to physical cryptocurrencies. This attracts investors seeking exposure to the crypto market through regulated products.

Furthermore, in alignment with Hong Kong’s vision of developing a strong Web 3.0 ecosystem, China Asset Management reaffirmed its commitment to meeting customer investment needs through innovative product strategies.

Also Read: Bitcoin ETF Inflows Clock $31M, BlackRock & Ark 21Shares Take The Lead

The post Hong Kong Officially Nods For Two Spot Bitcoin & Ethereum ETF appeared first on CoinGape.

---

Filed under: News - @ January 1, 1970 12:00 am