Official financial reports from the ETFs or statements from Harvest Global, China Asset Management, HashKey, or Bosera International

Hong Kong Approves First Spot Bitcoin, Ethereum ETFs; Major Asset Managers Involved

Apr 15, 2024, 07:58 AM

Hong Kong has conditionally approved the launch of the first batch of spot Bitcoin and Ethereum ETFs, marking a significant development in the cryptocurrency market. These approvals, granted to major asset managers such as Harvest Global, China Asset Management, HashKey, and Bosera International, are expected to facilitate substantial capital inflows and bolster the accessibility of cryptocurrencies in Asia. The ETFs, which will allow in-kind creation and redemption, are distinct from U.S. Bitcoin ETFs and are seen as a bullish signal for the market. Despite the enthusiasm, some analysts, including Bloomberg's Eric Balchunas, caution that the actual capital inflows might be modest compared to the U.S., estimating potential inflows at around $500 million. OSL Digital Securities will provide custody for some of these ETFs.