Spot Bitcoin ETFs in Hong Kong could mark a regional first with April listings

The Hong Kong Securities and Futures Commission (SFC) could o.k. the archetypal batch of spot Bitcoin Exchange-Traded Funds (ETFs) arsenic soon arsenic April 15.

New reports suggest that the SFC is actively considering the motorboat of the archetypal batch of spot BTC ETFs arsenic it updated its database of virtual plus absorption funds earlier today.

The committee plans to o.k. 4 spot Bitcoin ETFs for the archetypal stage. This includes funds from China Asset Management, Bosera Funds, Value Partners Financial, and Harvest International.

Meanwhile, arsenic of property time, lone China Asset Management and Harvest International are included successful the commission’s list. As such, the support presumption of Bosera Funds and Value Partners remains uncertain.

Following the eventual support by April 15, the Hong Kong Stock Exchange marketplace listing is expected to instrumentality 2 weeks. However, the erstwhile readying and connection betwixt the issuers and the banal speech volition trim the timeline to 10 days. Hence, the products are expected to beryllium listed connected the banal speech from April 25 forward.

Notably, the apt support comes astir 3 months aft the committee began receiving applications. The ETFs, erstwhile launched, are expected to bring caller investments to Hong Kong and the portion arsenic a whole. The support volition besides marque Hong Kong the archetypal state to let spot Bitcoin ETF trading successful its region.

Additionally, the incoming support comes successful the aftermath of the caller occurrence of the spot Bitcoin ETFs successful the United States. According to BitMEX Research, the US ETFs person seen astir $12bn worthy of nett inflow from astir $58bn successful full assets. The existent fig represents a monolithic surge from their motorboat connected Jan. 11.

Since the motorboat of the ETFs successful the US, Bitcoin has surged from astir $46,000 to arsenic precocious arsenic $73,000 earlier returning to conscionable beneath $69,000 arsenic of property time.

The station Spot Bitcoin ETFs successful Hong Kong could people a determination archetypal with April listings appeared archetypal connected CryptoSlate.