Hong Kong Receives First Bitcoin ETF Application
29 Jan, 2024 ● Crypto News
Hong Kong's Securities and Futures Commission (SFC) received an application for a spot Bitcoin ETF from Harvest Hong Kong, as reported by Tencent News on Jan. 26.
This application, following the U.S. SEC's approval of a similar ETF, indicates Hong Kong's increasing interest in cryptocurrency investments.
The SFC is expected to approve multiple spot ETFs to maintain a competitive market. Financial institutions in Hong Kong, including Venture Smart Financial Holdings and Samsung Asset Management, have shown interest in launching spot Bitcoin ETFs.
Hong Kong's regulatory environment has been favorable towards cryptocurrencies, with the SFC introducing crypto-focused regulations in 2023.
This openness has positioned Hong Kong as a key player in the Asian cryptocurrency market.