Hong Kong Set to Launch Bitcoin Spot ETFs, Boosting Crypto Access
Hong Kong is set to welcome a significant development in the cryptocurrency market this month. According to two anonymous sources, Bitcoin spot ETFs are expected to be tradable in the region, opening up new investment opportunities.
Several applications for Bitcoin spot ETFs have been submitted to the Hong Kong Stock Exchange. Among the applicants are large asset managers like Harvest Global Investments and Harvest Fund Management. These ETFs will operate using the in-kind method, which could make the investment products more successful and potentially bullish for the Bitcoin price.
Retail investors in Hong Kong have already been able to buy Bitcoin and other cryptocurrencies through fully licensed crypto exchanges. The launch of Bitcoin-backed investment products is also imminent at the London Stock Exchange and in Australia, indicating a global trend towards increased accessibility to Bitcoin for investors.
The Securities and Futures Commission of Hong Kong (SFC) is expected to announce the approval of Bitcoin spot ETFs in the coming week. This move is anticipated to lend greater legitimacy to the asset class and enable institutional capital to flow into Bitcoin through established structures. The launch of Bitcoin spot ETFs in Hong Kong aligns with the broader global efforts to make Bitcoin more accessible to investors.
