Hong Kong is getting in on crypto ETFs.
What’s happening:
- Hong Kong policy makers have approved both spot Bitcoin and Ethereum ETFs to list on their public stock exchanges
- The initial ETFs to be approved are being launched by China Asset Management, Harvest Global, Bosera and Hashkey
Why it matters:
- After the SEC approved spot Bitcoin ETFs to trade on major United States stock exchanges, many other countries have been accelerating their efforts to launch digital asset ETFs to attract institutional capital
- Hong Kong has been making a concentrated push to become a leader in crypto and these new ETF approvals are likely to deepen the amount of liquidity and venture capital available to digital assets as a whole within Hong Kong
Going deeper:
- While regulators in the United States only approved spot Bitcoin ETFs to list, Hong Kong will join Canada as one of the very few countries with an approved spot Ethereum ETF
