Bitcoin and Ethereum spot ETFs have debuted in Hong Kong, with Ethereum being declared not a security under Hong Kong laws. Three ETFs have started trading, with significant initial offering periods. Despite the US SEC’s scrutiny of Ethereum, both cryptocurrencies are eyeing new all-time highs as investor interest grows.
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Hong Kong Launches Bitcoin and Ethereum Exchange-Traded Funds (ETFs)
Hong Kong launched six spot bitcoin and ether exchange-traded funds (ETFs), marking a historic move for the Asian cryptocurrency market. The ETFs allow mainstream investors to gain exposure to Bitcoin and Ethereum without directly purchasing the coins. Despite a significant drop in Bitcoin prices on the same day, experts anticipate substantial growth potential for Hong Kong’s ETFs, with the market potential estimated to be double the size of that in the U.S. (_blank).
read moreHong Kong Launches Asia’s First Spot Bitcoin and Ethereum ETFs
Hong Kong’s stock exchange now offers spot Bitcoin and the world’s first spot Ethereum ETFs, with 14 new funds listed by three ETF issuers. The market’s reaction has been significant, with Bitcoin hitting an intraday high of $64,555 before the launch and Ethereum experiencing a surge to $3,244. Analysts are closely monitoring the impact of these developments on the crypto market, as Asia leads the way in this emerging sector.
read moreHong Kong Approves First Bitcoin and Ethereum ETFs, Sparking Market Growth
Hong Kong approves first spot Bitcoin and Ethereum ETFs, sparking anticipated fee war among providers. Market reacts positively, with HashKey Exchange completing first cryptocurrency subscription for approved ETFs. U.S. market sees record trading turnover for spot Bitcoin ETFs, influencing global trends.
read moreHong Kong Prepares to Launch Bitcoin and Ethereum ETFs in April
Hong Kong is gearing up to launch its first spot Bitcoin and Ethereum ETFs, set to commence trading on April 30. The in-kind subscription and redemption mechanism of these ETFs is expected to attract crypto natives and market makers, offering greater efficiency and arbitrage opportunities. Despite competition from US-based funds, Hong Kong aims to establish itself as a regulated hub for the virtual asset industry, with potential demand from Chinese wealth and Asia-Pacific market players. However, Bloomberg Intelligence estimates that the Hong Kong Bitcoin ETFs may only accumulate $1 billion in assets under management over two years, lacking the global recognition enjoyed by US industry giants like BlackRock Inc. and Fidelity Investments.
read moreSEC Delays Decision on Franklin Templeton’s Ethereum ETF Application
The U.S. SEC has delayed the decision on Franklin Templeton’s Ethereum ETF application, citing the need for more time to review the proposal. The deadline for the SEC’s final approval of Ethereum spot ETF applications filed by VanEck and ARK/21Shares is May 23, while the Hong Kong Securities and Futures Commission has already approved the launch of spot ETFs based on Ethereum.
read moreHong Kong Crypto Firms Urged to Establish Self-Regulatory Committee
The Hong Kong Securities & Futures Professionals Association recommends the establishment of a self-regulatory committee for crypto firms to monitor compliance. They propose splitting licensing power to industry players while maintaining market conduct supervision. Meanwhile, Hong Kong regulators have been more tolerant of virtual asset firms compared to counterparts in other parts of the world. Lithuania is tightening its crypto regulations due to compliance failures and embezzlement, while the U.S. Securities and Exchange Commission has not yet approved a spot Ether ETF or offered specific licenses for crypto exchanges to register.
read moreHKSFPA Proposes Independent SROs to Oversee Hong Kong Crypto Industry
The Hong Kong Securities and Futures Professionals Association (HKSFPA) is advocating for independent self-regulatory organizations (SROs) to oversee the crypto industry, aiming to balance supervision and innovation. They propose a system where the Securities & Futures Commission (SFC) retains control over market conduct but delegates licensing authority to industry-specific bodies, creating a structured yet adaptable regulatory environment. This proposal comes amidst mixed signals from Hong Kong regulators towards the crypto industry, with recent approvals and warnings reflecting the evolving landscape of digital assets.
read moreHong Kong Advocates Self-Regulatory Committee for Crypto Sector Oversight
The Hong Kong Securities & Futures Professionals Association recommends establishing a self-regulatory committee in the city’s crypto sector to balance oversight and industry growth. They propose delegating licensing authority to industry stakeholders while the Securities & Futures Commission maintains market conduct oversight. This call for self-regulation comes amidst global scrutiny of cryptocurrency oversight, with Hong Kong aiming to strike a balance between regulatory scrutiny and market innovation. The city has shown openness to crypto innovation, but the effectiveness of industry-led oversight will depend on collaboration between stakeholders and regulatory authorities.
read moreHong Kong Crypto Industry Urged to Establish Self-Regulatory Committee
The Hong Kong Securities & Futures Professionals Association recommends the establishment of a self-regulatory committee for crypto firms to monitor compliance. They propose splitting licensing power between the Securities & Futures Commission and industry players to maintain a balanced supervision and development approach. While Hong Kong regulators have been tolerant of virtual asset firms, Lithuania is tightening its crypto regulations due to compliance failures and embezzlement, while the U.S. Securities and Exchange Commission’s outlook for crypto approvals remains grim.
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