Three asset managers plan to start trading Bitcoin and Ethereum spot exchange-traded funds in Hong Kong on April 30, Reuters reported yesterday.
This will make Hong Kong the first Asian financial center to offer crypto-based products as a general investment tool.
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The Securities and Futures Commission has officially approved these products, according to the watchdog’s website.
Despite cryptocurrencies being banned in China, Hong Kong has positioned itself as a global hub for digital assets in an effort to boost its status as a financial center.
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Many major international crypto exchanges and funds have operated in Hong Kong in the past, but some have left due to regulatory requirements.
Источник: ru.ihodl.com
