Reports say HK's SFC has tentatively approved crypto ETFs.


Cryptocurrency has soared in popularity but lacks official recognition. Recently, rumors suggest some institutions got approval from Hong Kong's Securities and Futures Commission.

Cryptocurrencies have never been broadly listed on official trading institutions, forcing investors to trade through third-party platforms, all of which come with security risks. Even Binance, the world's largest cryptocurrency trading platform, has faced security issues. However, the Securities and Futures Commission (SFC) of Hong Kong seems poised to make a historic step forward.

Recent media reports suggest that the SFC of Hong Kong is expected to approve the first cryptocurrency ETF by the end of April. Prior to this, the U.S. Securities and Exchange Commission had already approved 11 Bitcoin spot ETFs. The SFC of Hong Kong has not directly responded to these rumors, merely stating that investment products recognized by the SFC will be publicly listed on its platform.

Although there has been no direct response from the SFC of Hong Kong, several asset management companies have already eagerly announced that their cryptocurrency spot ETFs have been approved by the SFC, making them the first batch of such ETFs in Hong Kong.

ChinaAMC (Hong Kong) announced that it has received approval from the SFC, allowing them to provide investors with virtual asset management services. They now plan to issue ETFs investing in spot Bitcoin and spot Ethereum, in collaboration with OSL Digital Securities, BOCI UK Prudential Trust, and other institutions.

Harvest Global also announced investments in spot Bitcoin and spot Ethereum, with OSL also partnering with Harvest. Additionally, Bosera Funds (International) and HashKey Capital have announced their virtual asset spot ETFs have been approved by the SFC of Hong Kong.


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Digital Currency

Digital currency is a form of money that exists only in digital form, not controlled by any central authority. It's based on blockchain technology, offering fast, decentralized transactions. However, it also comes with price volatility and security challenges.

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