Published
1 week ago on
April 25, 2024
Hong Kong‘s SFC has approved Bitcoin and Ethereum ETFs, launching on April 30th, marking a significant step in crypto adoption.
ChinaAMC is set to introduce these ETFs swiftly, highlighting the demand for regulated crypto investments. Unlike the U.S., Hong Kong’s ETFs will use an in-kind creation method, allowing new shares with actual Bitcoin and Ethereum.
Thomas Zhu of ChinaAMC sees this feature as attracting more investors. While the U.S. approved Bitcoin ETFs earlier, it’s still pending on Ethereum, reflecting the SEC’s cautious stance.
The upcoming launch in Hong Kong is expected to intensify competition and bridge traditional finance with crypto, offering a regulated investment avenue.
Hong Kong is launching ETFs to strengthen its role as a digital asset hub amid rising global crypto investment interest.
Following the U.S. approval of Bitcoin ETFs in January, crypto prices surged, with Bitcoin reaching US$73,737. Currently, Bitcoin trades at $63,485 (down 4.5%) and Ethereum at $3,122 (down 4.4%), according to CoinGecko.
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Bitcoin, Ethereum ETFs to Launch in Hong Kong: Details
was first posted on April 25, 2024 at 1:53 pm.
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