The Securities Regulatory Commission of Hong Kong (SFC) is said to have fast-tracked the approval process for four exchange-traded funds (ETFs) that track the price of Bitcoin (BTC). Local news outlet Tencent News reported that the first batch of these Bitcoin ETFs is expected to be approved in Hong Kong by April 15. Sources close to the Hong Kong Securities and Futures Commission revealed that the regulator initially intended to approve only four Bitcoin ETFs in the first round. Recent announcements indicate that Boshi Fund and Value Partners Financial are on track for regulatory approval, while Harvest International and China Asset Management have already made progress in leading the way for this cryptocurrency investment advancement. Once the Hong Kong Securities and Futures Commission gives the green light to the initial set of Bitcoin ETFs, the Hong Kong Stock Exchange will need approximately two weeks to finalize the listing procedures and related arrangements. The anticipated approval of these Bitcoin ETFs in Hong Kong presents numerous opportunities for institutional and individual investors. With the introduction of ETFs, retail investors will have access to Bitcoin investments, potentially leading to a significant shift in the investment landscape. Julia Leung, CEO of the SFC, emphasized the responsible use of innovative technologies such as distributed ledger technology and tokenization to enhance efficiency in the financial industry while ensuring investor protection. In a keynote speech at the HSBC Global Investment Summit, she also highlighted efforts to align corporate reporting standards with sustainability disclosure standards and promote informed investment decisions aligned with sustainability goals. This approval in Hong Kong is expected to come approximately three months after the first batch of Bitcoin ETFs was approved in the United States by the Securities and Exchange Commission. Currently, the top 10 Bitcoin ETFs manage around $57 billion in assets, with the three leading ones accounting for over 88% of the total. Traditional institutional investors are showing increasing interest in cryptocurrencies as stock market performance remains lackluster. In an effort to boost the adoption of Web3 technologies, Hong Kong’s ZA Bank recently announced plans to offer specialized banking services for stablecoin issuers, including secure custody for fiat reserves to back digital assets.