First Bitcoin and Ether ETFs get approved in Hong Kong

Hong Kong has joined the list of countries approving spot exchange-traded funds (ETFs) for Bitcoin (BTC) and Ether (ETH). The Hong Kong Securities and Futures Commission (SFC) has given conditional approval for the first spot BTC and ETH ETFs, with at least three local issuers set to launch their ETFs soon. These issuers include the Hong Kong units of Harvest Fund Management, Bosera Asset Management, and China Asset Management (ChinaAMC). Bosera will collaborate with HashKey Capital to launch its spot crypto ETFs, while OSL Digital Securities will act as the sub-custodian for ChinaAMC and Harvest. The SFC’s approval allows the ETFs to be launched as in-kind ETFs, meaning new shares can be issued using BTC and ETH, a model that enhances market liquidity and trading flows. However, the exact timing of the launch is still uncertain. The Hong Kong Stock Exchange will need approximately two weeks to finalize listing procedures and other arrangements after the SFC’s approval.