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Bitcoin Has Been Expected: Chinese Companies Have Been Given the Green Light - Coin Bulletin
Hong Kong approves applications for exchange-traded funds (ETFs) for spot Bitcoin and Ethereum.
According to a statement by China-based asset management firm China Asset Management, the company's Hong Kong branch has received approval from the Securities and Futures Commission to establish cryptocurrency-focused ETFs.
China Asset Management plans to work with OSL and BOCI International to establish spot Bitcoin and Ethereum ETFs.
Harvest Global Investments has also received regulatory approval for two ETFs that will invest in spot cryptocurrencies.
Bosera Asset Management, another Chinese asset management firm, has also received conditional approval for two cryptocurrency ETFs it is preparing to establish with HashKey Capital.
According to Matrixport analysis, ETFs to be established in Hong Kong could attract up to $25 billion in demand to the market.