The Securities and Futures Commission (SFC) in Hong Kong has approved the first spot Bitcoin and Ethereum exchange-traded funds (ETFs). China Asset Management Co. (China AMC), Harvest Global Investments, Bosera International, and HashKey Capital are among the companies that have received approval from the SFC to launch ETF products linked to spot Bitcoin and Ethereum. China AMC’s Hong Kong subsidiary has been granted the rights to provide digital asset management services to investors and will partner with OSL Digital Securities and Bank of China International-Prudential Trustee Limited to introduce the ETFs. Harvest Global Investments has also received in-principle approval for two spot crypto ETFs and will collaborate with OSL to issue the products. Bosera International and HashKey Capital have also been approved to offer Bitcoin and Ethereum ETFs.
The new ETF products are expected to address issues such as high margin requirements, price premiums caused by the absence of short sellers, and losses from rolling positions. This will help in accurately reflecting the immediate value of Bitcoin and Ethereum. The approvals have had a positive impact on the prices of Bitcoin and Ethereum, with Bitcoin trading at $66,321 and Ethereum trading at $3,250 at the time of writing. Bitcoin price has rebounded by 2.4% from yesterday, while Ethereum price has increased by 5.2% within the past 24 hours following the announcements.
China AMC, Harvest Global Investments, Bosera International, and HashKey Capital are among the first companies in Hong Kong to receive approval for spot Bitcoin and Ethereum ETFs from the SFC. The partnerships with OSL Digital Securities and Bank of China International-Prudential Trustee Limited will facilitate the launch of the ETF products linked to digital assets. The new ETFs are expected to provide investors with more accurate representation of the value of Bitcoin and Ethereum, addressing issues such as high margin requirements and price premiums.
The approval of spot Bitcoin and Ethereum ETFs by the Securities and Futures Commission in Hong Kong marks a significant development in the digital asset space. China AMC, Harvest Global Investments, Bosera International, and HashKey Capital will be among the first to offer ETF products linked to Bitcoin and Ethereum. The partnerships with OSL Digital Securities and Bank of China International-Prudential Trustee Limited will enable the companies to introduce the ETFs, providing investors with more opportunities to invest in digital assets.
The announcements of the approvals for spot Bitcoin and Ethereum ETFs have had a positive impact on the prices of Bitcoin and Ethereum. Following the approvals, Bitcoin price has rebounded and is currently trading at $66,321, while Ethereum price has also increased. The new ETF products are expected to address issues such as high margin requirements and price premiums, providing investors with a more accurate reflection of the value of Bitcoin and Ethereum. The partnerships between China AMC, Harvest Global Investments, Bosera International, HashKey Capital, OSL Digital Securities, and Bank of China International-Prudential Trustee Limited will facilitate the launch of the ETFs, marking a significant development in the digital asset space in Hong Kong.
