April-end to see launch of spot crypto ETF trading in Hong Kong
Hong Kong is preparing to introduce spot cryptocurrency exchange-traded funds (ETFs) by the end of April, following the trend set by the United States, as the region aims to enhance its position in the market.
Spot ETFs for Bitcoin and Ethereum are on the horizon in Hong Kong and are expected to launch by the end of April, as the city strengthens its focus on cryptocurrencies.
In an interview with Bloomberg, a spokesperson for HashKey, an Asian crypto group, revealed that the firm’s Bosera-HashKey Capital spot products will commence trading on April 30. This move comes after more than a year of concentrated efforts by Hong Kong to establish itself as a tightly regulated center for the virtual asset industry and regain its reputation as a modern financial powerhouse.
In addition to spot crypto ETFs, the city already permits futures crypto ETFs, including CSOP Bitcoin Futures, CSOP Ether Futures, and Samsung Bitcoin Futures. However, these three ETFs have amassed a modest total of approximately $175 million in assets under management thus far. According to Bloomberg Intelligence ETF Analyst Rebecca Sin, Hong Kong’s spot crypto ETFs could accumulate around $1 billion in assets under management by 2026.
As reported by crypto.news last week, Hong Kong’s Securities and Futures Commission (SFC) has approved applications from Boshi International, HashKey Capital, China Asset Management, and Harvest Investment to launch spot Bitcoin and Ethereum ETFs.
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