bitcoin
Bitcoin (BTC) $ 96,699.91
ethereum
Ethereum (ETH) $ 2,722.22
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 711.89
usd-coin
USDC (USDC) $ 1.00
xrp
XRP (XRP) $ 2.47
binance-usd
BUSD (BUSD) $ 0.995319
dogecoin
Dogecoin (DOGE) $ 0.262247
cardano
Cardano (ADA) $ 0.779137
solana
Solana (SOL) $ 195.76
matic-network
Polygon (MATIC) $ 0.32362
polkadot
Polkadot (DOT) $ 5.16
tron
TRON (TRX) $ 0.240208
bitcoin
Bitcoin (BTC) $ 96,699.91
ethereum
Ethereum (ETH) $ 2,722.22
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 711.89
usd-coin
USDC (USDC) $ 1.00
xrp
XRP (XRP) $ 2.47
binance-usd
BUSD (BUSD) $ 0.995319
dogecoin
Dogecoin (DOGE) $ 0.262247
cardano
Cardano (ADA) $ 0.779137
solana
Solana (SOL) $ 195.76
matic-network
Polygon (MATIC) $ 0.32362
polkadot
Polkadot (DOT) $ 5.16
tron
TRON (TRX) $ 0.240208

Hong Kong Poised to Unveil First Spot Bitcoin ETFs on April 15

-

Hong Kong’s securities regulator goals to approve the primary batch of Spot Bitcoin ETFs on April 15.

Nevertheless, their availability is anticipated to begin roughly two weeks after approval, Tencent Information reported Wednesday. Monetary analysts had been quoted as projecting that the primary Spot Bitcoin ETF in Hong Kong may attain a measurement of $20b. This might be smaller than comparable merchandise at present out there within the US.

The SFC reportedly up to date the listing of licensed fund firms forward of the preliminary approval announcement on April 15. It included Chinese language asset managers Harvest International Funding and China Asset Administration on this listing.

This provides them the flexibility to subject crypto-related fund merchandise, together with Spot Bitcoin ETFs. Harvest had utilized for the ETF on Jan. 26. The ETF sponsors have already begun discussing itemizing with the Hong Kong Inventory Change.

Hong Kong Units Requirements for Spot Bitcoin ETF Market

Hong Kong signaled its openness to approving Spot Bitcoin ETFs in December, echoing latest tendencies within the US. The SFC collaborated with the Hong Kong Financial Authority (HKMA). And so they introduced their readiness to simply accept functions for these digital asset merchandise.

Additional, they established clear tips for intermediaries concerned within the distribution of those funds.

They emphasised that spot crypto funding merchandise should adhere to the identical stringent necessities Hong Kong regulators established for conventional mutual funds and different structured funding merchandise.

The SFC additional stipulated that product issuers should display a historical past of sturdy regulatory compliance. Moreover, they have to make use of at the very least one certified workers member with related expertise in managing digital property or comparable merchandise.

See also  Metaplanet Unveils Bitcoin Magazine to Educate 1 Million People About Bitcoin

The regulator additionally stated these merchandise is not going to be allowed to make use of leveraged publicity. Moreover, issuers are mandated to collaborate with pre-approved exchanges for all asset buying and selling and acquisition actions.

10 Fund Managers Eye Spot Bitcoin Launch

Hong Kong’s crypto business leaders view the SFC’s latest actions as a optimistic step towards the introduction of Spot Bitcoin ETFs. Earlier this 12 months, HashKey Group’s COO Livio Weng disclosed that about 10 fund administration firms had been actively making ready to launch Spot Bitcoin ETFs in Hong Kong.

Whereas demonstrating a rising openness to digital property, Hong Kong maintains a popularity for stringent laws inside this sector.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

LATEST POSTS

Most Popular

Sticky BannerSticky Banner×